DiamondRock Hospitality (NYSE:DRH) Hits New 52-Week Low - What's Next?

DiamondRock Hospitality (NYSE:DRH - Get Free Report)'s stock price hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $7.69 and last traded at $7.70, with a volume of 2556709 shares trading hands. The stock had previously closed at $7.95.

Wall Street Analysts Forecast Growth

DRH has been the subject of several research analyst reports. Stifel Nicolaus cut DiamondRock Hospitality from a "buy" rating to a "hold" rating and cut their price objective for the stock from $10.75 to $10.25 in a research report on Friday, November 22nd. Wells Fargo & Company cut their price target on DiamondRock Hospitality from $10.50 to $9.50 and set an "equal weight" rating for the company in a report on Tuesday, February 18th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $10.05.

DiamondRock Hospitality Price Performance

The stock has a 50-day simple moving average of $8.57 and a 200 day simple moving average of $8.86. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.73 and a current ratio of 1.73. The company has a market cap of $1.67 billion, a P/E ratio of 28.70, a P/E/G ratio of 2.06 and a beta of 1.63.

DiamondRock Hospitality Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be paid a $0.08 dividend. This is a positive change from DiamondRock Hospitality's previous quarterly dividend of $0.03. This represents a $0.32 annualized dividend and a dividend yield of 3.98%. The ex-dividend date of this dividend is Friday, March 28th. DiamondRock Hospitality's dividend payout ratio is currently 188.24%.

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Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. GF Fund Management CO. LTD. bought a new stake in shares of DiamondRock Hospitality in the 4th quarter worth about $34,000. State of Wyoming acquired a new position in DiamondRock Hospitality in the fourth quarter valued at about $54,000. FIL Ltd acquired a new stake in shares of DiamondRock Hospitality during the fourth quarter worth approximately $60,000. Smartleaf Asset Management LLC raised its stake in shares of DiamondRock Hospitality by 278.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 9,769 shares of the real estate investment trust's stock valued at $89,000 after acquiring an additional 7,189 shares during the last quarter. Finally, Caxton Associates LP acquired a new position in shares of DiamondRock Hospitality in the 4th quarter worth approximately $92,000.

DiamondRock Hospitality Company Profile

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.