DiamondRock Hospitality (DRH) to Issue None Dividend of $0.06 on January 12th

DiamondRock Hospitality (NYSE:DRHGet Rating) announced a None dividend on Wednesday, December 7th, Zacks reports. Investors of record on Friday, December 30th will be paid a dividend of 0.06 per share by the real estate investment trust on Thursday, January 12th. This represents a yield of 1.3%. The ex-dividend date of this dividend is Thursday, December 29th.

DiamondRock Hospitality has a dividend payout ratio of 20.7% meaning its dividend is sufficiently covered by earnings. Analysts expect DiamondRock Hospitality to earn $1.06 per share next year, which means the company should continue to be able to cover its $0.12 annual dividend with an expected future payout ratio of 11.3%.

DiamondRock Hospitality Stock Up 2.0 %

DRH opened at $9.06 on Friday. DiamondRock Hospitality has a fifty-two week low of $7.18 and a fifty-two week high of $11.15. The business has a 50-day moving average of $8.73 and a 200-day moving average of $8.90. The company has a debt-to-equity ratio of 0.85, a current ratio of 3.29 and a quick ratio of 3.29. The company has a market capitalization of $1.91 billion, a PE ratio of 25.17 and a beta of 1.62.

Analyst Upgrades and Downgrades

DRH has been the topic of a number of analyst reports. StockNews.com initiated coverage on DiamondRock Hospitality in a report on Wednesday, October 12th. They set a “hold” rating on the stock. Citigroup increased their price objective on DiamondRock Hospitality to $10.00 in a report on Monday, August 22nd. Wells Fargo & Company lowered DiamondRock Hospitality from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $11.00 to $10.00 in a report on Monday, August 29th. Evercore ISI raised DiamondRock Hospitality from an “in-line” rating to an “outperform” rating in a report on Tuesday, October 18th. Finally, Compass Point lowered their target price on DiamondRock Hospitality to $11.00 in a report on Tuesday, November 15th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $10.60.

Hedge Funds Weigh In On DiamondRock Hospitality

Hedge funds and other institutional investors have recently modified their holdings of the stock. 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 valued at $277,647,000 after purchasing an additional 1,162,193 shares during the last quarter. State Street Corp grew its stake in shares of DiamondRock Hospitality by 0.5% during the second 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. Invesco Ltd. grew its stake in DiamondRock Hospitality by 2.2% in the first quarter. Invesco Ltd. now owns 5,238,273 shares of the real estate investment trust’s stock valued at $52,906,000 after acquiring an additional 114,309 shares during the period. Charles Schwab Investment Management Inc. grew its stake in DiamondRock Hospitality by 2.2% in the first quarter. Charles Schwab Investment Management Inc. now owns 3,634,751 shares of the real estate investment trust’s stock valued at $36,711,000 after acquiring an additional 79,534 shares during the period. Finally, Balyasny Asset Management LLC grew its stake in DiamondRock Hospitality by 7.6% in the third quarter. Balyasny Asset Management LLC now owns 3,432,111 shares of the real estate investment trust’s stock valued at $25,775,000 after acquiring an additional 243,261 shares during the period.

DiamondRock Hospitality Company Profile

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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 top gateway markets and destination resort locations. The Company owns 31 premium quality hotels with over 10,000 rooms. The Company has strategically positioned its hotels to be operated both under leading global brand families as well as unique boutique hotels in the lifestyle segment.

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Dividend History for DiamondRock Hospitality (NYSE:DRH)

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