DiamondRock Hospitality (NYSE:DRH) Receives Average Recommendation of “Hold” from Brokerages

DiamondRock Hospitality (NYSE:DRH) has received a consensus rating of “Hold” from the five research firms that are presently covering the company, Marketbeat.com reports. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $10.30.

Separately, StockNews.com downgraded DiamondRock Hospitality from a “hold” rating to a “sell” rating in a report on Friday.

Institutional Trading of DiamondRock Hospitality

Several hedge funds have recently added to or reduced their stakes in the company. Parallel Advisors LLC increased its position in DiamondRock Hospitality by 313.5% during the 4th quarter. Parallel Advisors LLC now owns 3,196 shares of the real estate investment trust’s stock worth $30,000 after buying an additional 2,423 shares during the period. Quadrant Capital Group LLC raised its stake in DiamondRock Hospitality by 195.7% in the 4th quarter. Quadrant Capital Group LLC now owns 3,330 shares of the real estate investment trust’s stock worth $31,000 after purchasing an additional 2,204 shares in the last quarter. LDR Capital Management LLC boosted its holdings in DiamondRock Hospitality by 25.5% in the 1st quarter. LDR Capital Management LLC now owns 13,244 shares of the real estate investment trust’s stock valued at $127,000 after purchasing an additional 2,692 shares during the period. Metis Global Partners LLC grew its position in shares of DiamondRock Hospitality by 19.4% during the 4th quarter. Metis Global Partners LLC now owns 14,309 shares of the real estate investment trust’s stock worth $134,000 after purchasing an additional 2,324 shares in the last quarter. Finally, First Trust Direct Indexing L.P. increased its holdings in shares of DiamondRock Hospitality by 8.8% during the fourth quarter. First Trust Direct Indexing L.P. now owns 14,660 shares of the real estate investment trust’s stock worth $138,000 after purchasing an additional 1,181 shares during the period.

DiamondRock Hospitality Stock Performance

DRH opened at $8.09 on Friday. The company has a quick ratio of 2.04, a current ratio of 2.04 and a debt-to-equity ratio of 0.71. DiamondRock Hospitality has a 12-month low of $7.33 and a 12-month high of $9.99. The business has a 50 day moving average of $8.33 and a 200-day moving average of $8.88. The stock has a market cap of $1.70 billion, a price-to-earnings ratio of 22.47, a PEG ratio of 4.75 and a beta of 1.60.

DiamondRock Hospitality Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 12th. Stockholders of record on Friday, June 28th were given a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 1.48%. The ex-dividend date of this dividend was Friday, June 28th. DiamondRock Hospitality’s payout ratio is 33.33%.

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.