DiamondRock Hospitality (NYSE:DRH) Reaches New 52-Week Low - Time to Sell?

Shares of DiamondRock Hospitality (NYSE:DRH - Get Free Report) reached a new 52-week low on Friday . The company traded as low as $7.58 and last traded at $7.62, with a volume of 194989 shares. The stock had previously closed at $7.71.

Analyst Upgrades and Downgrades

Separately, Wells Fargo & Company decreased their price target 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. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $10.05.

DiamondRock Hospitality Stock Performance

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 stock has a 50 day moving average price of $8.36 and a two-hundred day moving average price of $8.81. The company has a market cap of $1.60 billion, a price-to-earnings ratio of 27.52, a P/E/G ratio of 2.06 and a beta of 1.63.

DiamondRock Hospitality Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be issued a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, March 28th. This represents a $0.32 dividend on an annualized basis and a yield of 4.15%. This is a boost from DiamondRock Hospitality's previous quarterly dividend of $0.03. DiamondRock Hospitality's dividend payout ratio (DPR) is 188.24%.

Institutional Trading of DiamondRock Hospitality

A number of hedge funds have recently modified their holdings of DRH. GF Fund Management CO. LTD. acquired a new position in DiamondRock Hospitality during the fourth quarter valued at approximately $34,000. GTS Securities LLC bought a new position in DiamondRock Hospitality during the fourth quarter worth about $105,000. PharVision Advisers LLC acquired a new position in DiamondRock Hospitality in the fourth quarter valued at about $98,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of DiamondRock Hospitality by 3.5% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,279,283 shares of the real estate investment trust's stock worth $11,552,000 after acquiring an additional 43,555 shares in the last quarter. Finally, Voloridge Investment Management LLC acquired a new stake in shares of DiamondRock Hospitality during the fourth quarter worth about $604,000.

About DiamondRock Hospitality

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.