DiamondRock Hospitality (NYSE:DRH - Get Free Report) declared a quarterly dividend on Thursday, February 27th, Wall Street Journal reports. Shareholders of record on Friday, March 28th will be paid a dividend of 0.08 per share by the real estate investment trust on Friday, April 11th. This represents a $0.32 dividend on an annualized basis and a yield of 3.89%. The ex-dividend date is Friday, March 28th. This is a boost from DiamondRock Hospitality's previous quarterly dividend of $0.03.
DiamondRock Hospitality has a payout ratio of 191.7% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect DiamondRock Hospitality to earn $1.02 per share next year, which means the company should continue to be able to cover its $0.92 annual dividend with an expected future payout ratio of 90.2%.
DiamondRock Hospitality Price Performance
Shares of NYSE:DRH traded down $0.01 during trading on Monday, hitting $8.22. 2,972,516 shares of the stock were exchanged, compared to its average volume of 1,881,582. The company has a market cap of $1.71 billion, a PE ratio of 29.36, a P/E/G ratio of 2.06 and a beta of 1.57. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.66. The company has a fifty day moving average price of $8.78 and a two-hundred day moving average price of $8.88. DiamondRock Hospitality has a 12-month low of $7.74 and a 12-month high of $10.00.
Wall Street Analyst Weigh In
Several analysts have weighed in on the company. Wells Fargo & Company lowered their target price on DiamondRock Hospitality from $10.50 to $9.50 and set an "equal weight" rating on the stock in a report on Tuesday, February 18th. Stifel Nicolaus cut shares of DiamondRock Hospitality from a "buy" rating to a "hold" rating and lowered their price objective for the company from $10.75 to $10.25 in a research note on Friday, November 22nd. Evercore ISI cut shares of DiamondRock Hospitality from an "outperform" rating to an "inline" rating and set a $10.50 target price for the company. in a research report on Friday, November 15th. Finally, StockNews.com upgraded shares of DiamondRock Hospitality from a "sell" rating to a "hold" rating in a research report on Tuesday, November 12th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $10.05.
Read Our Latest Analysis on DRH
About DiamondRock Hospitality
(
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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