DiamondRock Hospitality (NYSE:DRH - Get Free Report) has been given a consensus rating of "Moderate Buy" by the six ratings firms that are covering the stock, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $9.92.
A number of equities analysts recently commented on DRH shares. Truist Financial lowered their price target on shares of DiamondRock Hospitality from $11.00 to $10.00 and set a "hold" rating on the stock in a research report on Wednesday, September 4th. Compass Point raised shares of DiamondRock Hospitality from a "neutral" rating to a "buy" rating and set a $10.00 target price on the stock in a report on Monday, August 5th. Wells Fargo & Company cut their price target on DiamondRock Hospitality from $9.50 to $9.00 and set an "equal weight" rating for the company in a research note on Friday, September 13th. Finally, StockNews.com lowered DiamondRock Hospitality from a "hold" rating to a "sell" rating in a research note on Monday.
View Our Latest Report on DiamondRock Hospitality
Several institutional investors and hedge funds have recently modified their holdings of the business. Allspring Global Investments Holdings LLC raised its stake in DiamondRock Hospitality by 9.2% during the first quarter. Allspring Global Investments Holdings LLC now owns 46,240 shares of the real estate investment trust's stock worth $444,000 after acquiring an additional 3,897 shares in the last quarter. BNP Paribas Financial Markets lifted its stake in DiamondRock Hospitality by 13.1% in the 1st quarter. BNP Paribas Financial Markets now owns 105,115 shares of the real estate investment trust's stock valued at $1,010,000 after purchasing an additional 12,194 shares during the last quarter. Daiwa Securities Group Inc. boosted its position in DiamondRock Hospitality by 7.0% in the first quarter. Daiwa Securities Group Inc. now owns 68,151 shares of the real estate investment trust's stock valued at $655,000 after buying an additional 4,475 shares in the last quarter. Texas Permanent School Fund Corp grew its stake in shares of DiamondRock Hospitality by 7.1% during the first quarter. Texas Permanent School Fund Corp now owns 183,463 shares of the real estate investment trust's stock worth $1,763,000 after buying an additional 12,143 shares during the last quarter. Finally, Quantbot Technologies LP acquired a new position in shares of DiamondRock Hospitality during the first quarter worth $294,000.
DRH opened at $8.70 on Tuesday. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.03 and a quick ratio of 2.03. The business has a fifty day simple moving average of $8.75 and a 200 day simple moving average of $8.53. DiamondRock Hospitality has a 1 year low of $7.74 and a 1 year high of $9.99. The company has a market capitalization of $1.80 billion, a PE ratio of 30.00, a price-to-earnings-growth ratio of 5.03 and a beta of 1.60.
The firm also recently declared a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Monday, September 30th were paid a $0.03 dividend. The ex-dividend date was Monday, September 30th. This represents a $0.12 annualized dividend and a dividend yield of 1.38%. DiamondRock Hospitality's payout ratio is 41.38%.
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.
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