DiamondRock Hospitality (NYSE:DRH) Hits New 1-Year Low - What's Next?

DiamondRock Hospitality (NYSE:DRH - Get Free Report) shares reached a new 52-week low on Thursday . The stock traded as low as $7.12 and last traded at $7.34, with a volume of 546 shares traded. The stock had previously closed at $7.88.

Wall Street Analysts Forecast Growth

Separately, Wells Fargo & Company cut their price target on shares of 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 equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $10.05.

DiamondRock Hospitality Stock Performance

The stock's 50 day simple moving average is $8.19 and its two-hundred day simple moving average is $8.76. The company has a market capitalization of $1.37 billion, a P/E ratio of 23.35, a P/E/G ratio of 2.06 and a beta of 1.38. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.73 and a quick ratio of 1.73.

DiamondRock Hospitality Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be given a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 4.87%. The ex-dividend date of this dividend is Friday, March 28th. This is a boost from DiamondRock Hospitality's previous quarterly dividend of $0.03. DiamondRock Hospitality's payout ratio is 188.24%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Bank of America Corp DE lifted its stake in shares of DiamondRock Hospitality by 78.8% during the fourth quarter. Bank of America Corp DE now owns 6,953,022 shares of the real estate investment trust's stock valued at $62,786,000 after acquiring an additional 3,064,117 shares during the period. Cbre Investment Management Listed Real Assets LLC bought a new stake in DiamondRock Hospitality during the 4th quarter worth about $14,889,000. Alyeska Investment Group L.P. lifted its position in DiamondRock Hospitality by 16.3% during the 4th quarter. Alyeska Investment Group L.P. now owns 8,576,077 shares of the real estate investment trust's stock valued at $77,442,000 after purchasing an additional 1,201,955 shares during the period. Lasalle Investment Management Securities LLC bought a new position in shares of DiamondRock Hospitality in the 4th quarter valued at about $9,982,000. Finally, GRS Advisors LLC acquired a new stake in shares of DiamondRock Hospitality during the 4th quarter worth approximately $9,919,000.

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.