DiamondRock Hospitality (NYSE:DRH) Downgraded to Sell Rating by StockNews.com

StockNews.com cut shares of DiamondRock Hospitality (NYSE:DRH) from a hold rating to a sell rating in a research report released on Monday.

A number of other research firms have also recently commented on DRH. Compass Point upgraded 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. Wells Fargo & Company lowered their price target on DiamondRock Hospitality from $9.50 to $9.00 and set an “equal weight” rating for the company in a report on Friday, September 13th. Finally, Truist Financial cut their price objective on DiamondRock Hospitality from $11.00 to $10.00 and set a “hold” rating on the stock in a report on Wednesday, September 4th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $9.92.

DiamondRock Hospitality Stock Up 1.2 %

Shares of NYSE:DRH opened at $8.70 on Monday. The company has a 50 day moving average price of $8.75 and a two-hundred day moving average price of $8.53. The company has a debt-to-equity ratio of 0.71, a quick ratio of 2.03 and a current ratio of 2.03. The company has a market capitalization of $1.80 billion, a PE ratio of 30.00, a PEG ratio of 5.04 and a beta of 1.60. DiamondRock Hospitality has a 52 week low of $7.74 and a 52 week high of $9.99.

DiamondRock Hospitality Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Monday, September 30th were paid a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 1.38%. The ex-dividend date was Monday, September 30th. DiamondRock Hospitality’s dividend payout ratio is 41.38%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Evergreen Capital Management LLC lifted its stake in DiamondRock Hospitality by 14.4% in the 2nd quarter. Evergreen Capital Management LLC now owns 14,372 shares of the real estate investment trust’s stock valued at $122,000 after acquiring an additional 1,810 shares in the last quarter. Louisiana State Employees Retirement System raised its holdings in shares of DiamondRock Hospitality by 1.8% in the second quarter. Louisiana State Employees Retirement System now owns 105,700 shares of the real estate investment trust’s stock valued at $893,000 after purchasing an additional 1,900 shares during the last quarter. Van ECK Associates Corp raised its holdings in shares of DiamondRock Hospitality by 6.7% in the second quarter. Van ECK Associates Corp now owns 32,191 shares of the real estate investment trust’s stock valued at $272,000 after purchasing an additional 2,028 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of DiamondRock Hospitality by 35.1% in 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 purchasing an additional 2,116 shares in the last quarter. Finally, ProShare Advisors LLC boosted its holdings in DiamondRock Hospitality by 7.4% during the first quarter. ProShare Advisors LLC now owns 42,394 shares of the real estate investment trust’s stock worth $407,000 after purchasing an additional 2,916 shares during the last quarter.

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.