Analysts Set DiamondRock Hospitality (NYSE:DRH) PT at $9.92

DiamondRock Hospitality (NYSE:DRH - Get Free Report) has earned an average rating of "Moderate Buy" from the six brokerages that are covering the stock, Marketbeat Ratings reports. Three analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $9.92.

Several analysts have recently commented on the stock. Compass Point raised shares of DiamondRock Hospitality from a "neutral" rating to a "buy" rating and set a $10.00 price objective for the company in a research report on Monday, August 5th. StockNews.com downgraded shares of DiamondRock Hospitality from a "hold" rating to a "sell" rating in a research report on Monday. Wells Fargo & Company reduced their price objective on shares of DiamondRock Hospitality from $9.50 to $9.00 and set an "equal weight" rating for the company in a research report on Friday, September 13th. Finally, Truist Financial reduced their price objective on shares of DiamondRock Hospitality from $11.00 to $10.00 and set a "hold" rating for the company in a research report on Wednesday, September 4th.

Hedge Funds Weigh In On DiamondRock Hospitality

Large investors have recently bought and sold shares of the stock. Natixis bought a new position in DiamondRock Hospitality during the 1st quarter valued at $728,000. Centersquare Investment Management LLC increased its position in shares of DiamondRock Hospitality by 40.3% during the 1st quarter. Centersquare Investment Management LLC now owns 6,303,698 shares of the real estate investment trust's stock valued at $56,103,000 after purchasing an additional 1,810,788 shares during the last quarter. Russell Investments Group Ltd. increased its position in shares of DiamondRock Hospitality by 19.9% during the 1st quarter. Russell Investments Group Ltd. now owns 562,844 shares of the real estate investment trust's stock valued at $5,409,000 after purchasing an additional 93,381 shares during the last quarter. MQS Management LLC purchased a new stake in shares of DiamondRock Hospitality during the 2nd quarter valued at $480,000. Finally, Millennium Management LLC purchased a new stake in shares of DiamondRock Hospitality during the 2nd quarter valued at $15,118,000.

DiamondRock Hospitality Trading Up 0.6 %

NYSE:DRH traded up $0.05 on Tuesday, reaching $8.75. 1,236,642 shares of the stock traded hands, compared to its average volume of 1,862,905. The firm has a market capitalization of $1.81 billion, a price-to-earnings ratio of 30.00, a price-to-earnings-growth ratio of 5.04 and a beta of 1.60. The company's 50 day moving average is $8.75 and its 200-day moving average is $8.53. The company has a current ratio of 2.03, a quick ratio of 2.03 and a debt-to-equity ratio of 0.71. DiamondRock Hospitality has a 1-year low of $7.74 and a 1-year high of $9.99.

DiamondRock Hospitality Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Monday, September 30th were paid a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 1.37%. The ex-dividend date was Monday, September 30th. DiamondRock Hospitality's dividend payout ratio (DPR) is presently 41.38%.

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.