DiamondRock Hospitality (NYSE:DRH) Rating Lowered to Hold at Stifel Nicolaus

Stifel Nicolaus cut shares of DiamondRock Hospitality (NYSE:DRH) from a buy rating to a hold rating in a research note issued to investors on Friday, Marketbeat Ratings reports. Stifel Nicolaus currently has $10.25 target price on the real estate investment trust’s stock, down from their previous target price of $10.75.

DRH has been the topic of a number of other research reports. Wells Fargo & Company dropped their price objective on DiamondRock Hospitality from $9.50 to $9.00 and set an “equal weight” rating on the stock in a research note on Friday, September 13th. StockNews.com raised shares of DiamondRock Hospitality from a “sell” rating to a “hold” rating in a report on Tuesday, November 12th. Evercore ISI cut shares of DiamondRock Hospitality from an “outperform” rating to an “inline” rating and set a $10.50 price objective on the stock. in a research note on Friday, November 15th. Truist Financial cut their target price on shares of DiamondRock Hospitality from $11.00 to $10.00 and set a “hold” rating for the company in a research note on Wednesday, September 4th. Finally, Compass Point upgraded shares of DiamondRock Hospitality from a “neutral” rating to a “buy” rating and set a $10.00 price target on the stock in a research report on Monday, August 5th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $10.13.

DiamondRock Hospitality Trading Up 2.1 %

DiamondRock Hospitality stock opened at $9.35 on Friday. DiamondRock Hospitality has a 12-month low of $7.74 and a 12-month high of $9.99. 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 stock has a market capitalization of $1.94 billion, a PE ratio of 33.18, a price-to-earnings-growth ratio of 5.56 and a beta of 1.60. The firm has a 50 day simple moving average of $8.92 and a 200-day simple moving average of $8.55.

DiamondRock Hospitality Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Monday, September 30th were issued a dividend of $0.03 per share. The ex-dividend date was Monday, September 30th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.28%. DiamondRock Hospitality’s dividend payout ratio is currently 42.86%.

Institutional Trading of DiamondRock Hospitality

Hedge funds have recently modified their holdings of the business. Orion Portfolio Solutions LLC grew its holdings in shares of DiamondRock Hospitality by 1.6% during the third quarter. Orion Portfolio Solutions LLC now owns 104,965 shares of the real estate investment trust’s stock valued at $916,000 after buying an additional 1,652 shares in the last quarter. Evergreen Capital Management LLC grew its stake in DiamondRock Hospitality by 14.4% during the 2nd quarter. Evergreen Capital Management LLC now owns 14,372 shares of the real estate investment trust’s stock valued at $122,000 after acquiring an additional 1,810 shares in the last quarter. Louisiana State Employees Retirement System increased its holdings in shares of DiamondRock Hospitality by 1.8% in the 2nd quarter. Louisiana State Employees Retirement System now owns 105,700 shares of the real estate investment trust’s stock valued at $893,000 after purchasing an additional 1,900 shares during the period. Van ECK Associates Corp lifted its position in shares of DiamondRock Hospitality by 6.7% in the second quarter. Van ECK Associates Corp now owns 32,191 shares of the real estate investment trust’s stock worth $272,000 after purchasing an additional 2,028 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of DiamondRock Hospitality by 35.1% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,153 shares of the real estate investment trust’s stock worth $73,000 after purchasing an additional 2,116 shares during the period.

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.