DiamondRock Hospitality (NYSE:DRH) Receives Consensus Recommendation of “Hold” from Analysts

Shares of DiamondRock Hospitality (NYSE:DRH) have received a consensus rating of “Hold” from the four research firms that are currently covering the stock, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $10.05.

DRH has been the topic of several recent research reports. Wells Fargo & Company cut their price target on DiamondRock Hospitality from $10.50 to $9.50 and set an “equal weight” rating on the stock in a research note on Tuesday, February 18th. StockNews.com upgraded DiamondRock Hospitality from a “sell” rating to a “hold” rating in a research note on Tuesday, November 12th. Evercore ISI lowered DiamondRock Hospitality from an “outperform” rating to an “inline” rating and set a $10.50 price objective for the company. in a research report on Friday, November 15th. Finally, Stifel Nicolaus lowered DiamondRock Hospitality from a “buy” rating to a “hold” rating and dropped their price target for the stock from $10.75 to $10.25 in a research report on Friday, November 22nd.

Institutional Trading of DiamondRock Hospitality

A number of hedge funds have recently bought and sold shares of DRH. Rush Island Management LP acquired a new stake in shares of DiamondRock Hospitality during the 3rd quarter worth approximately $51,726,000. Bank of America Corp DE boosted its position in DiamondRock Hospitality by 78.8% in the 4th quarter. Bank of America Corp DE now owns 6,953,022 shares of the real estate investment trust’s stock valued at $62,786,000 after buying an additional 3,064,117 shares during the period. Cbre Investment Management Listed Real Assets LLC purchased a new stake in shares of DiamondRock Hospitality during the 4th quarter worth $14,889,000. Alyeska Investment Group L.P. lifted its position in shares of DiamondRock Hospitality by 16.3% during the 4th quarter. Alyeska Investment Group L.P. now owns 8,576,077 shares of the real estate investment trust’s stock worth $77,442,000 after purchasing an additional 1,201,955 shares during the last quarter. Finally, Lasalle Investment Management Securities LLC purchased a new stake in shares of DiamondRock Hospitality during the 4th quarter worth $9,982,000.

DiamondRock Hospitality Trading Up 4.2 %

NYSE DRH opened at $8.55 on Monday. The stock has a 50-day moving average of $8.68 and a 200-day moving average of $8.88. The firm has a market cap of $1.78 billion, a PE ratio of 30.52, a price-to-earnings-growth ratio of 2.06 and a beta of 1.63. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.66. DiamondRock Hospitality has a 1-year low of $7.74 and a 1-year high of $10.00.

DiamondRock Hospitality Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be paid a $0.08 dividend. The ex-dividend date of this dividend is Friday, March 28th. This is a positive change from DiamondRock Hospitality’s previous quarterly dividend of $0.03. This represents a $0.32 dividend on an annualized basis and a yield of 3.74%. DiamondRock Hospitality’s dividend payout ratio (DPR) is currently 188.24%.

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.