DiamondRock Hospitality (NYSE:DRH) Sets New 12-Month Low – What’s Next?

DiamondRock Hospitality (NYSE:DRH)’s share price reached a new 52-week low on Thursday . The company traded as low as $7.12 and last traded at $7.34, with a volume of 546 shares trading hands. The stock had previously closed at $7.88.

Analyst Ratings Changes

Separately, Wells Fargo & Company lowered their price objective on DiamondRock Hospitality from $10.50 to $9.50 and set an “equal weight” rating for the company in a research report on Tuesday, February 18th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $10.05.

DiamondRock Hospitality Price Performance

The company has a debt-to-equity ratio of 0.66, a current ratio of 1.73 and a quick ratio of 1.73. The firm has a market cap of $1.46 billion, a price-to-earnings ratio of 25.02, a PEG ratio of 2.06 and a beta of 1.63. The stock has a 50-day moving average price of $8.24 and a 200 day moving average price of $8.78.

DiamondRock Hospitality Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be given a dividend of $0.08 per share. This is a positive change from DiamondRock Hospitality’s previous quarterly dividend of $0.03. The ex-dividend date of this dividend is Friday, March 28th. This represents a $0.32 annualized dividend and a yield of 4.57%. DiamondRock Hospitality’s payout ratio is 188.24%.

Hedge Funds Weigh In On DiamondRock Hospitality

Hedge funds have recently modified their holdings of the business. Versant Capital Management Inc boosted its stake in DiamondRock Hospitality by 156.3% during the 1st quarter. Versant Capital Management Inc now owns 3,699 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 2,256 shares during the period. GF Fund Management CO. LTD. acquired a new stake in shares of DiamondRock Hospitality during the fourth quarter worth about $34,000. State of Wyoming purchased a new position in shares of DiamondRock Hospitality during the fourth quarter worth about $54,000. FIL Ltd acquired a new position in DiamondRock Hospitality in the 4th quarter valued at about $60,000. Finally, Smartleaf Asset Management LLC raised its stake in DiamondRock Hospitality by 278.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 9,769 shares of the real estate investment trust’s stock valued at $89,000 after acquiring an additional 7,189 shares during the last quarter.

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.