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

Shares of DiamondRock Hospitality Company (NYSE:DRH) have been given a consensus rating of “Hold” by the ten analysts that are covering the stock, Marketbeat reports. Seven investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12 month price target among analysts that have covered the stock in the last year is $11.4278.

A number of equities research analysts have weighed in on the stock. Citigroup upped their price objective on shares of DiamondRock Hospitality from $9.50 to $11.00 and gave the stock a “neutral” rating in a report on Wednesday, May 6th. Truist Financial upped their price objective on shares of DiamondRock Hospitality from $11.00 to $12.00 and gave the stock a “buy” rating in a report on Tuesday, May 26th. Morgan Stanley upped their price objective on shares of DiamondRock Hospitality from $9.50 to $9.60 and gave the stock an “equal weight” rating in a report on Tuesday, May 12th. Wells Fargo & Company upped their price objective on shares of DiamondRock Hospitality from $11.00 to $12.00 and gave the stock an “equal weight” rating in a report on Monday, June 1st. Finally, LADENBURG THALM/SH SH began coverage on shares of DiamondRock Hospitality in a report on Thursday, March 26th. They set a “buy” rating and a $12.00 price target on the stock.

Insider Activity at DiamondRock Hospitality

In other news, Director Michael A. Hartmeier sold 20,000 shares of the 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 sale, the director owned 95,354 shares in the company, valued at $997,402.84. This represents a 17.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On DiamondRock Hospitality

Institutional investors have recently made changes to their positions in the company. Allworth Financial LP grew its holdings in shares of DiamondRock Hospitality by 146.0% during the fourth quarter. Allworth Financial LP now owns 2,859 shares of the real estate investment trust’s stock valued at $26,000 after buying an additional 1,697 shares during the last quarter. First Horizon Corp grew its holdings in shares of DiamondRock Hospitality by 54.9% during the fourth quarter. First Horizon Corp now owns 3,214 shares of the real estate investment trust’s stock valued at $29,000 after buying an additional 1,139 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of DiamondRock Hospitality by 77.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 3,436 shares of the real estate investment trust’s stock valued at $31,000 after buying an additional 1,498 shares during the last quarter. Global Retirement Partners LLC grew its holdings in shares of DiamondRock Hospitality by 12,114.7% during the fourth quarter. Global Retirement Partners LLC now owns 4,153 shares of the real estate investment trust’s stock valued at $37,000 after buying an additional 4,119 shares during the last quarter. Finally, Danske Bank A S purchased a new stake in shares of DiamondRock Hospitality during the third quarter valued at approximately $33,000.

DiamondRock Hospitality Price Performance

Shares of DRH opened at $11.61 on Wednesday. The stock has a market cap of $2.37 billion, a PE ratio of 46.44, a price-to-earnings-growth ratio of 4.50 and a beta of 1.00. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.64 and a current ratio of 1.64. DiamondRock Hospitality has a fifty-two week low of $7.44 and a fifty-two week high of $11.70. The firm’s 50-day simple moving average is $10.38 and its two-hundred day simple moving average is $9.72.

DiamondRock Hospitality Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 14th. Stockholders of record on Tuesday, June 30th will be issued a dividend of $0.09 per share. The ex-dividend date is Tuesday, June 30th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 3.1%. DiamondRock Hospitality’s dividend payout ratio is presently 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.