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

Shares of DiamondRock Hospitality Company (NYSE:DRH) have been assigned a consensus rating of “Hold” from the ten brokerages that are currently covering the firm, MarketBeat reports. Seven analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $11.65.

DRH has been the topic of a number of research analyst reports. Morgan Stanley boosted their price target 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 boosted their price target 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. Stifel Nicolaus set a $12.25 price target on shares of DiamondRock Hospitality in a report on Thursday, June 4th. Citigroup boosted their price target 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. Finally, LADENBURG THALM/SH SH boosted their price target on shares of DiamondRock Hospitality from $13.00 to $14.00 and gave the stock a “buy” rating in a report on Thursday, June 18th.

DiamondRock Hospitality Price Performance

DRH opened at $12.47 on Friday. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.64 and a quick ratio of 1.64. The company has a market capitalization of $2.55 billion, a price-to-earnings ratio of 49.86, a P/E/G ratio of 4.50 and a beta of 1.00. The firm’s fifty day moving average price is $11.08 and its two-hundred day moving average price is $10.04. DiamondRock Hospitality has a 1 year low of $7.45 and a 1 year high of $12.54.

DiamondRock Hospitality Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 14th. Investors of record on Tuesday, June 30th will be issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend is Tuesday, June 30th. DiamondRock Hospitality’s payout ratio is 76.60%.

Insider Activity

In other DiamondRock Hospitality news, Director Michael A. Hartmeier sold 20,000 shares of the company’s stock in a transaction dated 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 directly owned 95,354 shares of the company’s stock, valued at $997,402.84. This represents a 17.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Kathleen Merrill sold 20,000 shares of the company’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $11.88, for a total transaction of $237,600.00. Following the sale, the director directly owned 84,335 shares in the company, valued at approximately $1,001,899.80. This trade represents a 19.17% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On DiamondRock Hospitality

Several institutional investors have recently added to or reduced their stakes in the business. State Street Corp lifted its holdings in DiamondRock Hospitality by 0.8% during the second quarter. State Street Corp now owns 12,587,578 shares of the real estate investment trust’s stock valued at $97,400,000 after purchasing an additional 93,929 shares during the last quarter. Bank of America Corp DE lifted its holdings in DiamondRock Hospitality by 17.5% during the second quarter. Bank of America Corp DE now owns 9,231,991 shares of the real estate investment trust’s stock valued at $70,717,000 after purchasing an additional 1,377,897 shares during the last quarter. Alyeska Investment Group L.P. lifted its holdings in DiamondRock Hospitality by 5.5% during the third quarter. Alyeska Investment Group L.P. now owns 9,152,343 shares of the real estate investment trust’s stock valued at $72,853,000 after purchasing an additional 475,611 shares during the last quarter. Centersquare Investment Management LLC lifted its holdings in DiamondRock Hospitality by 3.2% during the fourth quarter. Centersquare Investment Management LLC now owns 7,780,988 shares of the real estate investment trust’s stock valued at $69,718,000 after purchasing an additional 244,013 shares during the last quarter. Finally, Cohen & Steers Inc. purchased a new stake in DiamondRock Hospitality during the fourth quarter valued at about $59,231,000.

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.