DiamondRock Hospitality (NYSE:DRH) Receives $10.05 Average PT from Brokerages

Shares of DiamondRock Hospitality (NYSE:DRH - Get Free Report) have received a consensus rating of "Hold" from the four brokerages that are presently covering the company, MarketBeat reports. Three investment analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 12-month target price among analysts that have covered the stock in the last year is $10.05.

Separately, Wells Fargo & Company lowered their target price on shares of DiamondRock Hospitality from $10.50 to $9.50 and set an "equal weight" rating for the company in a research note on Tuesday, February 18th.

DiamondRock Hospitality Stock Up 0.4 %

Shares of DRH stock traded up $0.03 during mid-day trading on Friday, hitting $6.75. 448,996 shares of the stock traded hands, compared to its average volume of 2,210,916. DiamondRock Hospitality has a 52-week low of $6.44 and a 52-week high of $10.00. The stock has a market cap of $1.40 billion, a P/E ratio of 24.09, 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. The stock's fifty day moving average is $8.19 and its two-hundred day moving average is $8.76.

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 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 4.74%. The ex-dividend date of this dividend is Friday, March 28th. DiamondRock Hospitality's dividend payout ratio (DPR) is presently 188.24%.

Institutional Trading of DiamondRock Hospitality

Several large investors have recently bought and sold shares of DRH. Wellington Management Group LLP lifted its stake in shares of DiamondRock Hospitality by 15.6% during the third quarter. Wellington Management Group LLP now owns 4,925,093 shares of the real estate investment trust's stock worth $42,996,000 after buying an additional 663,529 shares during the period. Jane Street Group LLC raised its stake in DiamondRock Hospitality by 73.0% in the 3rd quarter. Jane Street Group LLC now owns 302,757 shares of the real estate investment trust's stock worth $2,643,000 after acquiring an additional 127,717 shares during the last quarter. Geode Capital Management LLC lifted its position in DiamondRock Hospitality by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 5,350,283 shares of the real estate investment trust's stock worth $46,716,000 after acquiring an additional 28,391 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in DiamondRock Hospitality by 45.2% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 138,327 shares of the real estate investment trust's stock valued at $1,249,000 after purchasing an additional 43,088 shares during the last quarter. Finally, Cbre Investment Management Listed Real Assets LLC acquired a new position in shares of DiamondRock Hospitality in the fourth quarter valued at about $14,889,000.

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.