DiamondRock Hospitality (NYSE:DRH) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of DiamondRock Hospitality (NYSE:DRHGet Free Report) have received a consensus rating of “Hold” from the five analysts that are covering the firm, Marketbeat reports. Four equities research analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $9.83.

A number of equities analysts have recently weighed in on the company. Wolfe Research assumed coverage on DiamondRock Hospitality in a research report on Wednesday, January 10th. They set an “outperform” rating and a $11.00 target price on the stock. StockNews.com lowered DiamondRock Hospitality from a “hold” rating to a “sell” rating in a research report on Saturday, February 3rd. Morgan Stanley upped their target price on DiamondRock Hospitality from $8.50 to $9.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 7th. Finally, Wells Fargo & Company upped their target price on DiamondRock Hospitality from $9.00 to $10.00 and gave the stock an “equal weight” rating in a research report on Friday, December 22nd.

View Our Latest Report on DiamondRock Hospitality

DiamondRock Hospitality Price Performance

DiamondRock Hospitality stock opened at $9.27 on Friday. The stock has a market capitalization of $1.94 billion, a price-to-earnings ratio of 23.76 and a beta of 1.61. DiamondRock Hospitality has a 52-week low of $7.14 and a 52-week high of $9.75. The stock’s 50 day moving average price is $9.20 and its two-hundred day moving average price is $8.44. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.82 and a current ratio of 1.82.

DiamondRock Hospitality Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, January 11th. Investors of record on Friday, December 29th were given a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 1.30%. The ex-dividend date was Thursday, December 28th. DiamondRock Hospitality’s payout ratio is currently 30.77%.

Institutional Investors Weigh In On DiamondRock Hospitality

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Centersquare Investment Management LLC increased its position in shares of DiamondRock Hospitality by 166.0% during the 2nd quarter. Centersquare Investment Management LLC now owns 6,699,705 shares of the real estate investment trust’s stock valued at $53,665,000 after purchasing an additional 4,181,147 shares during the last quarter. Pzena Investment Management LLC grew its stake in shares of DiamondRock Hospitality by 45.0% during the 2nd quarter. Pzena Investment Management LLC now owns 8,909,183 shares of the real estate investment trust’s stock worth $71,363,000 after acquiring an additional 2,766,782 shares during the period. JPMorgan Chase & Co. grew its stake in shares of DiamondRock Hospitality by 133.3% during the 1st quarter. JPMorgan Chase & Co. now owns 4,720,222 shares of the real estate investment trust’s stock worth $38,376,000 after acquiring an additional 2,697,132 shares during the period. Norges Bank bought a new position in shares of DiamondRock Hospitality during the 4th quarter worth $16,550,000. Finally, Goldman Sachs Group Inc. grew its stake in shares of DiamondRock Hospitality by 92.6% during the 2nd quarter. Goldman Sachs Group Inc. now owns 4,072,464 shares of the real estate investment trust’s stock worth $32,620,000 after acquiring an additional 1,957,524 shares during the period.

DiamondRock Hospitality Company Profile

(Get Free Report

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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Analyst Recommendations for DiamondRock Hospitality (NYSE:DRH)

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