DiamondRock Hospitality (NYSE:DRH) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of DiamondRock Hospitality (NYSE:DRH) from a sell rating to a hold rating in a report released on Tuesday morning.

A number of other analysts also recently commented on DRH. Compass Point upgraded DiamondRock Hospitality from a “neutral” rating to a “buy” rating and set a $10.00 price objective for the company in a 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 research 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. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $10.17.

DiamondRock Hospitality Price Performance

DiamondRock Hospitality stock opened at $9.08 on Tuesday. DiamondRock Hospitality has a 1 year low of $7.74 and a 1 year high of $9.99. The company has a debt-to-equity ratio of 0.66, a quick ratio of 2.03 and a current ratio of 1.73. The firm has a 50 day moving average price of $8.83 and a 200 day moving average price of $8.54. The company has a market cap of $1.88 billion, a price-to-earnings ratio of 32.30, a PEG ratio of 5.38 and a beta of 1.60.

DiamondRock Hospitality Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Monday, September 30th were issued a $0.03 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.12 annualized dividend and a yield of 1.32%. DiamondRock Hospitality’s dividend payout ratio is currently 42.86%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of DRH. Quarry LP lifted its position in shares of DiamondRock Hospitality by 2,093.9% during the second quarter. Quarry LP now owns 3,949 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 3,769 shares in the last quarter. Headlands Technologies LLC purchased a new stake in DiamondRock Hospitality during the 2nd quarter worth $42,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in DiamondRock Hospitality by 35.1% in the 3rd 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 in the last quarter. Harbor Capital Advisors Inc. purchased a new position in DiamondRock Hospitality in the 3rd quarter valued at about $74,000. Finally, Choreo LLC acquired a new stake in shares of DiamondRock Hospitality during the second quarter valued at about $89,000.

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.