DiamondRock Hospitality (NYSE:DRH) Stock Price Passes Above 200 Day Moving Average – Time to Sell?

Shares of DiamondRock Hospitality (NYSE:DRH) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $8.82 and traded as high as $9.08. DiamondRock Hospitality shares last traded at $9.03, with a volume of 1,452,192 shares trading hands.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. StockNews.com raised DiamondRock Hospitality from a “sell” rating to a “hold” rating in a report on Tuesday, November 12th. Stifel Nicolaus cut DiamondRock Hospitality from a “buy” rating to a “hold” rating and reduced their price target for the stock from $10.75 to $10.25 in a report on Friday, November 22nd. Evercore ISI cut DiamondRock Hospitality from an “outperform” rating to an “inline” rating and set a $10.50 price target for the company. in a report on Friday, November 15th. Finally, Wells Fargo & Company upped their price target on DiamondRock Hospitality from $10.00 to $10.50 and gave the stock an “equal weight” rating in a report on Monday, December 9th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $10.25.

DiamondRock Hospitality Stock Up 1.8 %

The company has a debt-to-equity ratio of 0.66, a current ratio of 1.73 and a quick ratio of 1.73. The business has a 50 day simple moving average of $9.19 and a 200 day simple moving average of $8.82. The company has a market capitalization of $1.87 billion, a price-to-earnings ratio of 32.25, a PEG ratio of 4.94 and a beta of 1.59.

DiamondRock Hospitality Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 14th. Stockholders of record on Tuesday, December 31st were paid a $0.32 dividend. This is a boost from DiamondRock Hospitality’s previous quarterly dividend of $0.03. This represents a $1.28 annualized dividend and a dividend yield of 14.17%. The ex-dividend date was Tuesday, December 31st. DiamondRock Hospitality’s dividend payout ratio (DPR) is presently 42.86%.

Institutional Trading of DiamondRock Hospitality

Several hedge funds have recently modified their holdings of DRH. Quarry LP boosted its holdings in DiamondRock Hospitality by 2,093.9% in the second quarter. Quarry LP now owns 3,949 shares of the real estate investment trust’s stock valued at $33,000 after purchasing an additional 3,769 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in DiamondRock Hospitality by 35.1% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,153 shares of the real estate investment trust’s stock valued at $73,000 after purchasing an additional 2,116 shares in the last quarter. Harbor Capital Advisors Inc. acquired a new position in DiamondRock Hospitality in the third quarter valued at approximately $74,000. KBC Group NV boosted its holdings in DiamondRock Hospitality by 55.9% in the fourth quarter. KBC Group NV now owns 10,436 shares of the real estate investment trust’s stock valued at $94,000 after purchasing an additional 3,744 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new stake in shares of DiamondRock Hospitality in the third quarter valued at approximately $100,000.

About DiamondRock Hospitality

DiamondRock Hospitality Company is a self-advised real estate investment trust (REIT) that is an owner of a leading portfolio of geographically diversified hotels concentrated in leisure destinations and top gateway markets. The Company currently owns 36 premium quality hotels with over 9,700 rooms. The Company has strategically positioned its portfolio to be operated both under leading global brand families as well as independent boutique hotels in the lifestyle segment.