DiamondRock Hospitality (NYSE:DRH) Hits New 12-Month Low – Should You Sell?

Shares of DiamondRock Hospitality (NYSE:DRH) reached a new 52-week low during mid-day trading on Thursday . The company traded as low as $7.69 and last traded at $7.70, with a volume of 2556709 shares trading hands. The stock had previously closed at $7.95.

Analysts Set New Price Targets

A number of research firms have issued reports on DRH. Evercore ISI cut shares of DiamondRock Hospitality from an “outperform” rating to an “inline” rating and set a $10.50 price objective on the stock. in a research report on Friday, November 15th. Stifel Nicolaus cut shares of DiamondRock Hospitality from a “buy” rating to a “hold” rating and decreased their price objective for the company from $10.75 to $10.25 in a research report on Friday, November 22nd. Finally, Wells Fargo & Company decreased their price objective on shares of DiamondRock Hospitality from $10.50 to $9.50 and set an “equal weight” rating on the stock in a research report on Tuesday, February 18th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $10.05.

DiamondRock Hospitality Trading Up 2.4 %

The company has a market capitalization of $1.64 billion, a P/E ratio of 28.23, a P/E/G ratio of 2.06 and a beta of 1.63. The stock’s 50 day moving average is $8.57 and its 200-day moving average is $8.85. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.73 and a quick ratio of 1.73.

DiamondRock Hospitality Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be paid a $0.08 dividend. This is an increase from DiamondRock Hospitality’s previous quarterly dividend of $0.03. This represents a $0.32 dividend on an annualized basis and a yield of 4.05%. The ex-dividend date is Friday, March 28th. DiamondRock Hospitality’s dividend payout ratio is presently 188.24%.

Institutional Investors Weigh In On DiamondRock Hospitality

Hedge funds and other institutional investors have recently bought and sold shares of the business. GF Fund Management CO. LTD. purchased a new stake in DiamondRock Hospitality in the fourth quarter worth about $34,000. State of Wyoming purchased a new stake in DiamondRock Hospitality in the fourth quarter worth about $54,000. FIL Ltd purchased a new stake in DiamondRock Hospitality in the fourth quarter worth about $60,000. Smartleaf Asset Management LLC grew its holdings in shares of DiamondRock Hospitality by 278.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 9,769 shares of the real estate investment trust’s stock valued at $89,000 after buying an additional 7,189 shares during the last quarter. Finally, Caxton Associates LP purchased a new stake in shares of DiamondRock Hospitality during the fourth quarter valued at approximately $92,000.

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.