DiamondRock Hospitality (NYSE:DRH) Receives Consensus Rating of “Hold” from Analysts

DiamondRock Hospitality (NYSE:DRH) has earned a consensus recommendation of “Hold” from the five ratings firms that are presently covering the company, MarketBeat.com reports. Three analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $10.30.

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

DiamondRock Hospitality Stock Performance

Shares of DRH opened at $8.09 on Friday. The firm has a market cap of $1.70 billion, a price-to-earnings ratio of 22.47, a price-to-earnings-growth ratio of 4.75 and a beta of 1.60. The company’s fifty day moving average is $8.33 and its 200-day moving average is $8.88. 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.

DiamondRock Hospitality Dividend Announcement

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

Institutional Investors Weigh In On DiamondRock Hospitality

A number of hedge funds have recently bought and sold shares of DRH. Mirae Asset Global Investments Co. Ltd. boosted its stake in DiamondRock Hospitality by 6.8% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 99,903 shares of the real estate investment trust’s stock valued at $938,000 after purchasing an additional 6,396 shares during the period. Custom Index Systems LLC bought a new position in DiamondRock Hospitality during the fourth quarter worth $258,000. Louisiana State Employees Retirement System bought a new position in DiamondRock Hospitality during the fourth quarter worth $985,000. New York State Common Retirement Fund raised its stake in DiamondRock Hospitality by 4.3% during the 4th quarter. New York State Common Retirement Fund now owns 129,727 shares of the real estate investment trust’s stock valued at $1,218,000 after purchasing an additional 5,348 shares during the last quarter. Finally, Wolverine Asset Management LLC bought a new stake in DiamondRock Hospitality in the 4th quarter valued at $516,000.

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.