DiamondRock Hospitality (NYSE:DRH) Earns Hold Rating from Analysts at StockNews.com

StockNews.com initiated coverage on shares of DiamondRock Hospitality (NYSE:DRH – Get Rating) in a report published on Thursday morning. The brokerage issued a hold rating on the real estate investment trust’s stock.

Other research analysts also recently issued reports about the stock. Morgan Stanley raised their price target on shares of DiamondRock Hospitality from $9.00 to $9.50 and gave the company an equal weight rating in a report on Tuesday, February 7th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of DiamondRock Hospitality from $12.00 to $11.00 in a report on Wednesday, February 22nd. Finally, Wells Fargo & Company lifted their price objective on shares of DiamondRock Hospitality from $10.00 to $10.50 and gave the stock an equal weight rating in a report on Thursday, February 2nd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of Hold and a consensus target price of $10.50.

DiamondRock Hospitality Stock Down 4.0 %

Shares of NYSE:DRH opened at $7.76 on Thursday. The firm has a fifty day moving average price of $8.92 and a two-hundred day moving average price of $8.71. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.70 and a quick ratio of 1.70. DiamondRock Hospitality has a one year low of $7.18 and a one year high of $11.15. The company has a market cap of $1.63 billion, a price-to-earnings ratio of 16.87 and a beta of 1.66.

DiamondRock Hospitality Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 12th. Investors of record on Friday, March 31st will be given a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 1.55%. The ex-dividend date of this dividend is Thursday, March 30th. DiamondRock Hospitality’s payout ratio is presently 26.09%.

Hedge Funds Weigh In On DiamondRock Hospitality

A number of large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in DiamondRock Hospitality by 3.2% in the 3rd quarter. Vanguard Group Inc. now owns 36,970,154 shares of the real estate investment trust’s stock worth $277,647,000 after purchasing an additional 1,162,193 shares during the period. State Street Corp raised its position in DiamondRock Hospitality by 0.5% in the 2nd quarter. State Street Corp now owns 13,603,078 shares of the real estate investment trust’s stock worth $111,681,000 after purchasing an additional 64,600 shares during the period. FMR LLC raised its position in DiamondRock Hospitality by 7.8% in the 2nd quarter. FMR LLC now owns 13,319,480 shares of the real estate investment trust’s stock worth $109,353,000 after purchasing an additional 958,454 shares during the period. Macquarie Group Ltd. raised its position in DiamondRock Hospitality by 2.2% in the 4th quarter. Macquarie Group Ltd. now owns 6,738,918 shares of the real estate investment trust’s stock worth $55,138,000 after purchasing an additional 147,096 shares during the period. Finally, Pzena Investment Management LLC increased its position in shares of DiamondRock Hospitality by 1.2% in the third quarter. Pzena Investment Management LLC now owns 6,489,126 shares of the real estate investment trust’s stock valued at $48,733,000 after acquiring an additional 75,713 shares during the period.

DiamondRock Hospitality Company Profile

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DiamondRock Hospitality Co is a real estate investment trust which focuses on lodging properties. It engages in the acquisition, ownership, asset management, and renovation of hotels and resorts. Its brands include Autograph Collection Hotels, Courtyard Marriott, Hilton Garden Inn, Hilton Hotels & Resorts, JW Marriott, and Kimpton Hotels & Restaurants.