DiamondRock Hospitality (NYSE:DRH) Receives $10.25 Average Target Price from Brokerages

Shares of DiamondRock Hospitality (NYSE:DRH - Get Free Report) have been given a consensus recommendation of "Hold" by the four ratings firms that are currently covering the company, Marketbeat reports. Three equities research analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 12 month price objective among analysts that have covered the stock in the last year is $10.25.

A number of brokerages have recently issued reports on DRH. Evercore ISI cut shares of DiamondRock Hospitality from an "outperform" rating to an "inline" rating and set a $10.50 price objective for the company. in a research note on Friday, November 15th. Wells Fargo & Company upped their price target on shares of DiamondRock Hospitality from $10.00 to $10.50 and gave the company an "equal weight" rating in a research report on Monday, December 9th. Stifel Nicolaus downgraded DiamondRock Hospitality from a "buy" rating to a "hold" rating and decreased their price objective for the stock from $10.75 to $10.25 in a report on Friday, November 22nd. Finally, StockNews.com upgraded DiamondRock Hospitality from a "sell" rating to a "hold" rating in a report on Tuesday, November 12th.

Institutional Trading of DiamondRock Hospitality

Several large investors have recently modified their holdings of the business. Mercer Global Advisors Inc. ADV lifted its holdings in DiamondRock Hospitality by 32.9% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 63,610 shares of the real estate investment trust's stock worth $574,000 after buying an additional 15,748 shares during the period. Northern Trust Corp raised its holdings in shares of DiamondRock Hospitality by 15.6% during the fourth quarter. Northern Trust Corp now owns 3,250,978 shares of the real estate investment trust's stock valued at $29,356,000 after acquiring an additional 438,310 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in DiamondRock Hospitality by 16.2% in the fourth quarter. The Manufacturers Life Insurance Company now owns 134,256 shares of the real estate investment trust's stock worth $1,212,000 after acquiring an additional 18,751 shares during the period. H 2 Credit Manager LP boosted its holdings in DiamondRock Hospitality by 36.5% in the fourth quarter. H 2 Credit Manager LP now owns 3,741,445 shares of the real estate investment trust's stock valued at $33,785,000 after acquiring an additional 1,000,000 shares in the last quarter. Finally, Boothbay Fund Management LLC purchased a new position in DiamondRock Hospitality during the 4th quarter valued at $1,846,000.

DiamondRock Hospitality Price Performance

NYSE:DRH traded up $0.05 during mid-day trading on Thursday, reaching $8.59. The stock had a trading volume of 1,144,423 shares, compared to its average volume of 1,435,823. DiamondRock Hospitality has a one year low of $7.74 and a one year high of $10.00. 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 firm has a 50 day moving average price of $9.02 and a two-hundred day moving average price of $8.85. The stock has a market capitalization of $1.78 billion, a P/E ratio of 30.66, a P/E/G ratio of 4.88 and a beta of 1.57.

DiamondRock Hospitality Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 14th. Stockholders of record on Tuesday, December 31st were paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 14.91%. This is an increase from DiamondRock Hospitality's previous quarterly dividend of $0.03. The ex-dividend date of this dividend was Tuesday, December 31st. DiamondRock Hospitality's dividend payout ratio is 42.86%.

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.