DiamondRock Hospitality (NYSE:DRH) Receives $10.30 Consensus PT from Analysts

Shares of DiamondRock Hospitality (NYSE:DRH) have received a consensus recommendation of “Hold” from the five analysts that are currently covering the stock, MarketBeat reports. Three investment analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $10.30.

A number of analysts have recently issued reports on DRH shares. StockNews.com raised shares of DiamondRock Hospitality from a “sell” rating to a “hold” rating in a research report on Friday, May 3rd. Truist Financial increased their target price on shares of DiamondRock Hospitality from $10.00 to $11.00 and gave the stock a “hold” rating in a research report on Thursday, March 14th.

Institutional Investors Weigh In On DiamondRock Hospitality

Institutional investors and hedge funds have recently modified their holdings of the business. Centersquare Investment Management LLC increased its position in DiamondRock Hospitality by 40.3% during the first quarter. Centersquare Investment Management LLC now owns 6,303,698 shares of the real estate investment trust’s stock worth $56,103,000 after buying an additional 1,810,788 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of DiamondRock Hospitality by 4.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,516,452 shares of the real estate investment trust’s stock valued at $42,409,000 after acquiring an additional 190,136 shares during the last quarter. Northern Trust Corp raised its stake in shares of DiamondRock Hospitality by 2.3% in the 3rd quarter. Northern Trust Corp now owns 3,291,311 shares of the real estate investment trust’s stock valued at $26,429,000 after acquiring an additional 73,745 shares in the last quarter. Norges Bank acquired a new stake in DiamondRock Hospitality in the 4th quarter worth approximately $13,301,000. Finally, Panagora Asset Management Inc. boosted its position in DiamondRock Hospitality by 3.0% during the fourth quarter. Panagora Asset Management Inc. now owns 1,164,692 shares of the real estate investment trust’s stock worth $10,936,000 after purchasing an additional 33,645 shares during the period.

DiamondRock Hospitality Stock Down 0.3 %

Shares of DiamondRock Hospitality stock opened at $8.21 on Wednesday. DiamondRock Hospitality has a 1 year low of $7.33 and a 1 year high of $9.99. The company has a market cap of $1.72 billion, a P/E ratio of 22.79, a P/E/G ratio of 6.03 and a beta of 1.60. The company has a current ratio of 2.04, a quick ratio of 2.04 and a debt-to-equity ratio of 0.71. The stock has a 50-day moving average price of $8.42 and a 200 day moving average price of $9.02.

DiamondRock Hospitality Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 12th. Stockholders of record on Friday, June 28th will be paid a dividend of $0.03 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $0.12 annualized dividend and a dividend yield of 1.46%. DiamondRock Hospitality’s dividend payout ratio (DPR) is 33.33%.

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.