DiamondRock Hospitality Company (NYSE:DRH) Given Average Rating of “Hold” by Analysts

Shares of DiamondRock Hospitality Company (NYSE:DRH) have received a consensus rating of “Hold” from the nine ratings firms that are currently covering the firm, MarketBeat.com reports. Six investment analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $9.9063.

Several brokerages have recently weighed in on DRH. Wells Fargo & Company raised their price target on DiamondRock Hospitality from $9.00 to $10.00 and gave the company an “equal weight” rating in a report on Monday, December 1st. Barclays assumed coverage on shares of DiamondRock Hospitality in a research note on Tuesday, January 6th. They set an “equal weight” rating and a $10.00 price objective for the company. Evercore upped their target price on shares of DiamondRock Hospitality from $9.00 to $10.00 and gave the stock an “in-line” rating in a research note on Thursday, November 20th. Deutsche Bank Aktiengesellschaft upgraded shares of DiamondRock Hospitality from a “hold” rating to a “buy” rating and increased their price target for the company from $10.00 to $12.00 in a report on Tuesday, January 13th. Finally, Truist Financial upgraded shares of DiamondRock Hospitality from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $10.00 to $11.00 in a report on Friday, January 9th.

Institutional Trading of DiamondRock Hospitality

Large investors have recently added to or reduced their stakes in the business. Cohen & Steers Inc. bought a new stake in DiamondRock Hospitality in the fourth quarter worth about $59,231,000. JPMorgan Chase & Co. raised its holdings in shares of DiamondRock Hospitality by 106.3% in the second quarter. JPMorgan Chase & Co. now owns 5,412,002 shares of the real estate investment trust’s stock worth $41,456,000 after buying an additional 2,788,022 shares during the period. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in shares of DiamondRock Hospitality by 907.2% during the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,292,360 shares of the real estate investment trust’s stock worth $20,540,000 after acquiring an additional 2,064,760 shares during the last quarter. SG Americas Securities LLC lifted its stake in shares of DiamondRock Hospitality by 881.7% during the 4th quarter. SG Americas Securities LLC now owns 2,024,790 shares of the real estate investment trust’s stock worth $18,142,000 after acquiring an additional 1,818,527 shares during the last quarter. Finally, Qube Research & Technologies Ltd grew its position in DiamondRock Hospitality by 469.0% in the 3rd quarter. Qube Research & Technologies Ltd now owns 2,002,863 shares of the real estate investment trust’s stock valued at $15,943,000 after acquiring an additional 1,650,871 shares during the last quarter.

DiamondRock Hospitality Stock Performance

Shares of DiamondRock Hospitality stock opened at $9.93 on Monday. DiamondRock Hospitality has a 12 month low of $6.18 and a 12 month high of $10.24. The firm has a market capitalization of $2.02 billion, a P/E ratio of 39.72, a P/E/G ratio of 4.50 and a beta of 1.03. The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 0.70. The business has a fifty day simple moving average of $9.39 and a two-hundred day simple moving average of $8.69.

DiamondRock Hospitality Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 14th. Shareholders of record on Wednesday, December 31st were paid a dividend of $0.08 per share. The ex-dividend date was Wednesday, December 31st. This represents a $0.32 dividend on an annualized basis and a yield of 3.2%. DiamondRock Hospitality’s payout ratio is currently 128.00%.

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.