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 research report report published on Thursday. The firm issued a hold rating on the real estate investment trust’s stock.

Several other equities research analysts have also issued reports on DRH. Morgan Stanley raised their target price on shares of DiamondRock Hospitality from $9.00 to $9.50 and gave the stock an equal weight rating in a report on Tuesday, February 7th. Wells Fargo & Company raised their price target on shares of DiamondRock Hospitality from $10.00 to $10.50 and gave the stock an equal weight rating in a research note on Thursday, February 2nd. Finally, Deutsche Bank Aktiengesellschaft cut their target price on shares of DiamondRock Hospitality from $12.00 to $11.00 in a research report on Wednesday, February 22nd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, DiamondRock Hospitality has a consensus rating of Hold and an average price target of $10.50.

DiamondRock Hospitality Price Performance

DRH stock opened at $7.76 on Thursday. DiamondRock Hospitality has a 52 week low of $7.18 and a 52 week high of $11.15. The company has a quick ratio of 1.70, a current ratio of 1.70 and a debt-to-equity ratio of 0.74. The company has a fifty day simple moving average of $8.92 and a two-hundred day simple moving average of $8.71. The firm has a market capitalization of $1.63 billion, a P/E ratio of 16.87 and a beta of 1.66.

DiamondRock Hospitality Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 12th. Investors of record on Friday, March 31st will be issued a $0.03 dividend. This represents a $0.12 annualized dividend 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%.

Institutional Investors Weigh In On DiamondRock Hospitality

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Voya Investment Management LLC grew its holdings in shares of DiamondRock Hospitality by 108.1% during the fourth quarter. Voya Investment Management LLC now owns 169,746 shares of the real estate investment trust’s stock worth $1,390,000 after buying an additional 88,181 shares in the last quarter. Natixis purchased a new stake in shares of DiamondRock Hospitality during the fourth quarter worth $936,000. Macquarie Group Ltd. grew its holdings in shares of DiamondRock Hospitality by 2.2% during the fourth quarter. Macquarie Group Ltd. now owns 6,738,918 shares of the real estate investment trust’s stock worth $55,138,000 after buying an additional 147,096 shares in the last quarter. Truist Financial Corp grew its holdings in shares of DiamondRock Hospitality by 252.0% during the fourth quarter. Truist Financial Corp now owns 76,941 shares of the real estate investment trust’s stock worth $630,000 after buying an additional 55,082 shares in the last quarter. Finally, Alliancebernstein L.P. grew its holdings in shares of DiamondRock Hospitality by 57.1% during the fourth quarter. Alliancebernstein L.P. now owns 563,226 shares of the real estate investment trust’s stock worth $4,613,000 after buying an additional 204,604 shares in the last quarter.

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.