DiamondRock Hospitality (NYSE:DRH) Receives $10.05 Consensus Price Target from Brokerages

Shares of DiamondRock Hospitality (NYSE:DRH) have been assigned an average rating of “Hold” from the four research firms that are currently covering the company, MarketBeat.com reports. Three investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $10.05.

A number of equities research analysts have weighed in on DRH shares. Stifel Nicolaus downgraded DiamondRock Hospitality from a “buy” rating to a “hold” rating and lowered their price target for the company from $10.75 to $10.25 in a research report on Friday, November 22nd. Wells Fargo & Company lowered their price target on DiamondRock Hospitality from $10.50 to $9.50 and set an “equal weight” rating on the stock in a research report on Tuesday, February 18th.

DiamondRock Hospitality Trading Up 2.4 %

NYSE DRH opened at $7.91 on Monday. The stock’s 50-day simple moving average is $8.57 and its two-hundred day simple moving average is $8.86. DiamondRock Hospitality has a twelve month low of $7.69 and a twelve month high of $10.00. 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 capitalization of $1.64 billion, a price-to-earnings ratio of 28.23, a PEG ratio of 2.06 and a beta of 1.63.

DiamondRock Hospitality Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be issued a $0.08 dividend. The ex-dividend date is Friday, March 28th. This represents a $0.32 annualized dividend and a dividend yield of 4.05%. This is an increase from DiamondRock Hospitality’s previous quarterly dividend of $0.03. DiamondRock Hospitality’s payout ratio is currently 188.24%.

Institutional Trading of DiamondRock Hospitality

Large investors have recently modified their holdings of the business. Wellington Management Group LLP grew its stake in shares of DiamondRock Hospitality by 15.6% in the third quarter. Wellington Management Group LLP now owns 4,925,093 shares of the real estate investment trust’s stock worth $42,996,000 after purchasing an additional 663,529 shares during the last quarter. Jane Street Group LLC grew its stake in shares of DiamondRock Hospitality by 73.0% in the third quarter. Jane Street Group LLC now owns 302,757 shares of the real estate investment trust’s stock worth $2,643,000 after purchasing an additional 127,717 shares during the last quarter. Geode Capital Management LLC boosted its position in DiamondRock Hospitality by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 5,350,283 shares of the real estate investment trust’s stock valued at $46,716,000 after acquiring an additional 28,391 shares in the last quarter. Cbre Investment Management Listed Real Assets LLC bought a new stake in DiamondRock Hospitality during the 4th quarter valued at approximately $14,889,000. Finally, Barclays PLC boosted its position in DiamondRock Hospitality by 37.6% during the 3rd 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 in the last quarter.

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.