DiamondRock Hospitality (NYSE:DRH) Receives $10.25 Average PT from Analysts

Shares of DiamondRock Hospitality (NYSE:DRH - Get Free Report) have received a consensus recommendation of "Hold" from the four ratings firms that are presently covering the company, Marketbeat.com reports. Three analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $10.25.

DRH has been the subject of several recent research reports. Wells Fargo & Company increased their price target on DiamondRock Hospitality from $10.00 to $10.50 and gave the company an "equal weight" rating in a report on Monday, December 9th. Evercore ISI lowered DiamondRock Hospitality from an "outperform" rating to an "inline" rating and set a $10.50 price target on the stock. in a report on Friday, November 15th. StockNews.com raised shares of DiamondRock Hospitality from a "sell" rating to a "hold" rating in a research report on Tuesday, November 12th. Finally, Stifel Nicolaus cut shares of 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.

Institutional Investors Weigh In On DiamondRock Hospitality

A number of institutional investors and hedge funds have recently made changes to their positions in DRH. Quarry LP increased its holdings in DiamondRock Hospitality by 2,093.9% in the 2nd quarter. Quarry LP now owns 3,949 shares of the real estate investment trust's stock valued at $33,000 after purchasing an additional 3,769 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of DiamondRock Hospitality by 35.1% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,153 shares of the real estate investment trust's stock worth $73,000 after buying an additional 2,116 shares during the period. Harbor Capital Advisors Inc. acquired a new stake in shares of DiamondRock Hospitality in the third quarter valued at $74,000. Choreo LLC purchased a new stake in shares of DiamondRock Hospitality in the 2nd quarter valued at $89,000. Finally, SG Americas Securities LLC acquired a new position in DiamondRock Hospitality during the 3rd quarter worth about $100,000.

DiamondRock Hospitality Price Performance

DRH stock traded down $0.06 during mid-day trading on Friday, reaching $8.93. The company's stock had a trading volume of 1,073,679 shares, compared to its average volume of 1,722,925. 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 company's 50 day moving average is $9.20 and its two-hundred day moving average is $8.79. DiamondRock Hospitality has a fifty-two week low of $7.74 and a fifty-two week high of $10.00. The stock has a market cap of $1.85 billion, a PE ratio of 31.91, a P/E/G ratio of 4.88 and a beta of 1.59.

DiamondRock Hospitality Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 14th. Investors of record on Tuesday, December 31st were given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 14.33%. This is an increase from DiamondRock Hospitality's previous quarterly dividend of $0.03. The ex-dividend date was Tuesday, December 31st. DiamondRock Hospitality's dividend payout ratio (DPR) is presently 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.