DiamondRock Hospitality (NYSE:DRH) Given Average Recommendation of “Hold” by Brokerages

DiamondRock Hospitality (NYSE:DRH) has been given an average recommendation of “Hold” by the five analysts that are currently covering the firm, Marketbeat reports. Three research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $10.13.

Several research firms have recently issued reports on DRH. Compass Point raised DiamondRock Hospitality from a “neutral” rating to a “buy” rating and set a $10.00 price target for the company in a research note on Monday, August 5th. Truist Financial reduced their target price on DiamondRock Hospitality from $11.00 to $10.00 and set a “hold” rating for the company in a report on Wednesday, September 4th. StockNews.com upgraded shares of DiamondRock Hospitality from a “sell” rating to a “hold” rating in a research report on Tuesday, November 12th. Evercore ISI lowered shares of DiamondRock Hospitality from an “outperform” rating to an “inline” rating and set a $10.50 price target for the company. in a research report on Friday, November 15th. Finally, Wells Fargo & Company reduced their price objective on DiamondRock Hospitality from $9.50 to $9.00 and set an “equal weight” rating for the company in a research report on Friday, September 13th.

DiamondRock Hospitality Stock Performance

Shares of NYSE DRH opened at $9.29 on Friday. The stock has a market capitalization of $1.93 billion, a P/E ratio of 33.16, a P/E/G ratio of 5.36 and a beta of 1.60. DiamondRock Hospitality has a 52-week low of $7.74 and a 52-week high of $9.99. 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 firm’s 50-day moving average price is $8.97 and its two-hundred day moving average price is $8.58.

DiamondRock Hospitality Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Monday, September 30th were issued a $0.03 dividend. The ex-dividend date was Monday, September 30th. This represents a $0.12 annualized dividend and a yield of 1.29%. DiamondRock Hospitality’s dividend payout ratio (DPR) is presently 42.86%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Geode Capital Management LLC raised its holdings in DiamondRock Hospitality by 0.5% in 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. Barclays PLC boosted its position in DiamondRock Hospitality by 37.6% in the third quarter. Barclays PLC now owns 368,616 shares of the real estate investment trust’s stock valued at $3,219,000 after buying an additional 100,805 shares in the last quarter. Orion Portfolio Solutions LLC grew its position in DiamondRock Hospitality by 1.6% during the 3rd quarter. Orion Portfolio Solutions LLC now owns 104,965 shares of the real estate investment trust’s stock worth $916,000 after acquiring an additional 1,652 shares during the last quarter. Jane Street Group LLC grew its holdings in shares of DiamondRock Hospitality by 73.0% during 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. Finally, Wellington Management Group LLP increased its position in DiamondRock Hospitality by 15.6% in the 3rd quarter. Wellington Management Group LLP now owns 4,925,093 shares of the real estate investment trust’s stock valued at $42,996,000 after acquiring an additional 663,529 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.