DiamondRock Hospitality (NYSE:DRH) Given New $9.00 Price Target at Morgan Stanley

DiamondRock Hospitality (NYSE:DRH) had its target price hoisted by Morgan Stanley from $8.50 to $9.00 in a research report report published on Tuesday morning, Benzinga reports. They currently have an equal weight rating on the real estate investment trust’s stock.

A number of other research analysts have also recently issued reports on the stock. Truist Financial decreased their price objective on shares of DiamondRock Hospitality from $11.00 to $10.00 and set a hold rating for the company in a report on Friday, September 15th. Wells Fargo & Company boosted their price objective on shares of DiamondRock Hospitality from $9.00 to $10.00 in a report on Wednesday, July 12th. Finally, StockNews.com started coverage on shares of DiamondRock Hospitality in a report on Thursday, October 5th. They set a sell rating for the company. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, DiamondRock Hospitality currently has a consensus rating of Hold and a consensus target price of $9.83.

DiamondRock Hospitality Stock Down 0.5 %

Shares of NYSE DRH opened at $8.29 on Tuesday. The stock has a market cap of $1.74 billion, a P/E ratio of 21.24 and a beta of 1.62. The firm has a 50 day moving average price of $7.99 and a 200 day moving average price of $8.03. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.88 and a current ratio of 1.82. DiamondRock Hospitality has a 52-week low of $7.14 and a 52-week high of $10.02.

DiamondRock Hospitality Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, October 12th. Stockholders of record on Friday, September 29th were issued a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 1.45%. The ex-dividend date was Thursday, September 28th. DiamondRock Hospitality’s dividend payout ratio (DPR) is presently 30.77%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in DRH. PNC Financial Services Group Inc. raised its position in shares of DiamondRock Hospitality by 9.4% in the first quarter. PNC Financial Services Group Inc. now owns 13,193 shares of the real estate investment trust’s stock valued at $133,000 after purchasing an additional 1,130 shares during the period. LPL Financial LLC raised its position in shares of DiamondRock Hospitality by 10.2% in the second quarter. LPL Financial LLC now owns 13,698 shares of the real estate investment trust’s stock valued at $110,000 after purchasing an additional 1,266 shares during the period. Mackenzie Financial Corp raised its position in shares of DiamondRock Hospitality by 10.8% in the first quarter. Mackenzie Financial Corp now owns 13,036 shares of the real estate investment trust’s stock valued at $132,000 after purchasing an additional 1,272 shares during the period. Price T Rowe Associates Inc. MD raised its position in shares of DiamondRock Hospitality by 1.2% in the second quarter. Price T Rowe Associates Inc. MD now owns 127,027 shares of the real estate investment trust’s stock valued at $1,043,000 after purchasing an additional 1,485 shares during the period. Finally, Harbor Investment Advisory LLC raised its position in shares of DiamondRock Hospitality by 33.5% in the second quarter. Harbor Investment Advisory LLC now owns 6,449 shares of the real estate investment trust’s stock valued at $52,000 after purchasing an additional 1,620 shares during the period.

About DiamondRock Hospitality

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.