Brokerages Set DiamondRock Hospitality Company (NYSE:DRH) Target Price at $12.03

DiamondRock Hospitality Company (NYSE:DRH) has earned an average recommendation of “Hold” from the eleven brokerages that are presently covering the stock, Marketbeat.com reports. Seven research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12-month price target among brokerages that have covered the stock in the last year is $12.1250.

DRH has been the subject of a number of research analyst reports. Barclays increased their target price on DiamondRock Hospitality from $10.00 to $12.00 and gave the company an “equal weight” rating in a report on Monday, June 1st. Wells Fargo & Company lifted their price target on DiamondRock Hospitality from $12.00 to $13.00 and gave the company an “equal weight” rating in a report on Thursday. Morgan Stanley upped their price target on DiamondRock Hospitality from $9.60 to $10.00 and gave the company an “equal weight” rating in a research report on Friday, July 17th. Stifel Nicolaus set a $12.25 price objective on DiamondRock Hospitality in a research note on Thursday, June 4th. Finally, Bank of America raised their price objective on DiamondRock Hospitality from $12.50 to $13.00 and gave the stock a “buy” rating in a research report on Monday, July 20th.

Insider Buying and Selling

In related news, Director Kathleen Merrill sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $11.88, for a total transaction of $237,600.00. Following the transaction, the director directly owned 84,335 shares of the company’s stock, valued at approximately $1,001,899.80. The trade was a 19.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Michael A. Hartmeier sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $10.46, for a total transaction of $209,200.00. Following the transaction, the director directly owned 95,354 shares in the company, valued at $997,402.84. The trade was a 17.34% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On DiamondRock Hospitality

Institutional investors have recently modified their holdings of the stock. AQR Capital Management LLC increased its stake in shares of DiamondRock Hospitality by 223.2% in the first quarter. AQR Capital Management LLC now owns 65,376 shares of the real estate investment trust’s stock worth $505,000 after acquiring an additional 45,146 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of DiamondRock Hospitality by 5.1% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 123,672 shares of the real estate investment trust’s stock worth $955,000 after acquiring an additional 5,971 shares in the last quarter. United Services Automobile Association acquired a new stake in DiamondRock Hospitality during the first quarter valued at $91,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in DiamondRock Hospitality by 3.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,327,841 shares of the real estate investment trust’s stock valued at $10,251,000 after purchasing an additional 48,558 shares during the last quarter. Finally, Creative Planning purchased a new position in DiamondRock Hospitality in the second quarter valued at about $99,000.

DiamondRock Hospitality Trading Up 1.4%

NYSE DRH opened at $12.85 on Thursday. DiamondRock Hospitality has a twelve month low of $7.45 and a twelve month high of $13.05. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.64 and a current ratio of 1.64. The stock has a market cap of $2.63 billion, a price-to-earnings ratio of 51.40, a PEG ratio of 4.50 and a beta of 0.98. The firm’s 50 day moving average price is $11.81 and its two-hundred day moving average price is $10.48.

DiamondRock Hospitality Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 14th. Stockholders of record on Tuesday, June 30th were issued a $0.09 dividend. The ex-dividend date was Tuesday, June 30th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 2.8%. DiamondRock Hospitality’s dividend payout ratio is currently 76.60%.

DiamondRock Hospitality Company Profile

DiamondRock Hospitality Company is a real estate investment trust (REIT) that acquires, owns and manages a diversified portfolio of upscale, full-service hotels in urban gateway markets across the United States. Established in 2004 and headquartered in Bethesda, Maryland, the company focuses on investing in high-quality lodging properties that cater to both business and leisure travelers. Its assets are positioned in key metropolitan areas, enabling DiamondRock to benefit from strong demand drivers such as corporate travel, group conventions and resort leisure stays.

The company’s portfolio includes full-service hotels offering a broad range of amenities, including guest rooms, on-site food and beverage outlets, meeting and event space, fitness centers and spa services.