DiamondRock Hospitality (NYSE:DRH) Downgraded to “Hold” Rating by Stifel Nicolaus

Stifel Nicolaus cut shares of DiamondRock Hospitality (NYSE:DRH) from a buy rating to a hold rating in a report published on Friday morning, Marketbeat reports. The firm currently has $10.25 price target on the real estate investment trust’s stock, down from their previous price target of $10.75.

DRH has been the topic of several other research reports. Wells Fargo & Company cut their target price on DiamondRock Hospitality from $9.50 to $9.00 and set an “equal weight” rating on the stock in a research note on Friday, September 13th. Evercore ISI cut shares of DiamondRock Hospitality from an “outperform” rating to an “inline” rating and set a $10.50 target price for the company. in a report on Friday, November 15th. Compass Point raised shares of DiamondRock Hospitality from a “neutral” rating to a “buy” rating and set a $10.00 target price for the company in a research report on Monday, August 5th. Truist Financial cut their price target on shares of DiamondRock Hospitality from $11.00 to $10.00 and set a “hold” rating on the stock in a research report on Wednesday, September 4th. Finally, StockNews.com upgraded DiamondRock Hospitality from a “sell” rating to a “hold” rating in a report on Tuesday, November 12th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $10.13.

DiamondRock Hospitality Trading Up 0.3 %

Shares of NYSE:DRH opened at $9.17 on Friday. The firm has a market cap of $1.90 billion, a price-to-earnings ratio of 32.73, a PEG ratio of 5.54 and a beta of 1.60. DiamondRock Hospitality has a 12 month low of $7.74 and a 12 month high of $9.99. The company’s fifty day simple moving average is $8.90 and its 200 day simple moving average is $8.55. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.66.

DiamondRock Hospitality Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Monday, September 30th were paid a dividend of $0.03 per share. The ex-dividend date was Monday, September 30th. This represents a $0.12 annualized dividend and a dividend yield of 1.31%. DiamondRock Hospitality’s dividend payout ratio is presently 42.86%.

Institutional Investors Weigh In On DiamondRock Hospitality

Several hedge funds have recently bought and sold shares of the company. Quarry LP raised its stake in DiamondRock Hospitality by 2,093.9% in the second quarter. Quarry LP now owns 3,949 shares of the real estate investment trust’s stock valued at $33,000 after buying an additional 3,769 shares during the period. Headlands Technologies LLC acquired a new position in shares of DiamondRock Hospitality during the 2nd quarter worth approximately $42,000. Mirae Asset Global Investments Co. Ltd. raised its stake 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 valued at $73,000 after acquiring an additional 2,116 shares during the period. Harbor Capital Advisors Inc. acquired a new stake in DiamondRock Hospitality during the 3rd quarter valued at $74,000. Finally, Choreo LLC bought a new position in DiamondRock Hospitality during the second quarter worth $89,000.

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.