DiamondRock Hospitality (NYSE:DRH) Receives $10.25 Consensus Target Price from Brokerages

Shares of DiamondRock Hospitality (NYSE:DRH) have been assigned a consensus recommendation of “Hold” from the four brokerages that are currently covering the company, MarketBeat.com reports. Three investment analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $10.25.

A number of analysts recently commented on DRH shares. StockNews.com upgraded shares of DiamondRock Hospitality from a “sell” rating to a “hold” rating in a research note on Tuesday, November 12th. Evercore ISI downgraded DiamondRock Hospitality from an “outperform” rating to an “inline” rating and set a $10.50 target price on the stock. in a research report on Friday, November 15th. Stifel Nicolaus lowered DiamondRock Hospitality from a “buy” rating to a “hold” rating and cut their price target for the stock from $10.75 to $10.25 in a report on Friday, November 22nd. Finally, Wells Fargo & Company boosted their price objective on DiamondRock Hospitality from $10.00 to $10.50 and gave the company an “equal weight” rating in a research note on Monday, December 9th.

Institutional Investors Weigh In On DiamondRock Hospitality

A number of institutional investors and hedge funds have recently made changes to their positions in DRH. Wellington Management Group LLP grew its stake in DiamondRock Hospitality by 15.6% in the 3rd quarter. Wellington Management Group LLP now owns 4,925,093 shares of the real estate investment trust’s stock worth $42,996,000 after buying an additional 663,529 shares in the last quarter. Jane Street Group LLC lifted its holdings in shares of DiamondRock Hospitality by 73.0% during the 3rd quarter. Jane Street Group LLC now owns 302,757 shares of the real estate investment trust’s stock worth $2,643,000 after acquiring an additional 127,717 shares during the last quarter. Geode Capital Management LLC grew its position in DiamondRock Hospitality by 0.5% in the third quarter. Geode Capital Management LLC now owns 5,350,283 shares of the real estate investment trust’s stock worth $46,716,000 after acquiring an additional 28,391 shares in the last quarter. Barclays PLC increased its stake in DiamondRock Hospitality by 37.6% in the third quarter. Barclays PLC now owns 368,616 shares of the real estate investment trust’s stock valued at $3,219,000 after acquiring an additional 100,805 shares during the last quarter. Finally, Holocene Advisors LP purchased a new stake in DiamondRock Hospitality during the third quarter valued at about $568,000.

DiamondRock Hospitality Price Performance

NYSE DRH opened at $8.97 on Friday. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.66. The company has a market cap of $1.86 billion, a PE ratio of 32.05, a price-to-earnings-growth ratio of 4.99 and a beta of 1.59. DiamondRock Hospitality has a 52 week low of $7.74 and a 52 week high of $10.00. The firm’s 50-day simple moving average is $9.19 and its two-hundred day simple moving average is $8.80.

DiamondRock Hospitality Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, January 14th. Stockholders of record on Tuesday, December 31st were given a dividend of $0.32 per share. This is a positive change from DiamondRock Hospitality’s previous quarterly dividend of $0.03. This represents a $1.28 dividend on an annualized basis and a dividend yield of 14.26%. The ex-dividend date of this dividend was Tuesday, December 31st. DiamondRock Hospitality’s payout ratio is 42.86%.

DiamondRock Hospitality Company Profile

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.