Analysts Set DiamondRock Hospitality (NYSE:DRH) Price Target at $10.05

Shares of DiamondRock Hospitality (NYSE:DRH) have been assigned a consensus rating of “Hold” from the four brokerages that are covering the firm, Marketbeat.com reports. Three investment analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $10.05.

DRH has been the topic of a number of analyst reports. Wells Fargo & Company dropped their price target on 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. Stifel Nicolaus cut DiamondRock Hospitality from a “buy” rating to a “hold” rating and dropped their price target for the stock from $10.75 to $10.25 in a research report on Friday, November 22nd.

DiamondRock Hospitality Stock Performance

Shares of DRH opened at $7.91 on Monday. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.66. The business’s 50 day moving average price is $8.57 and its 200-day moving average price is $8.86. DiamondRock Hospitality has a 52 week low of $7.69 and a 52 week high of $10.00. The stock has a market cap 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.

DiamondRock Hospitality Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be issued a $0.08 dividend. This is a positive change 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 of this dividend is Friday, March 28th. DiamondRock Hospitality’s payout ratio is presently 188.24%.

Hedge Funds Weigh In On DiamondRock Hospitality

A number of hedge funds have recently added to or reduced their stakes in DRH. Rush Island Management LP purchased a new position in DiamondRock Hospitality in the 3rd quarter worth approximately $51,726,000. Bank of America Corp DE raised its stake in DiamondRock Hospitality by 78.8% during the 4th quarter. Bank of America Corp DE now owns 6,953,022 shares of the real estate investment trust’s stock valued at $62,786,000 after buying an additional 3,064,117 shares during the last quarter. Cbre Investment Management Listed Real Assets LLC purchased a new stake in DiamondRock Hospitality during the 4th quarter valued at $14,889,000. Alyeska Investment Group L.P. raised its stake in DiamondRock Hospitality by 16.3% during the 4th quarter. Alyeska Investment Group L.P. now owns 8,576,077 shares of the real estate investment trust’s stock valued at $77,442,000 after buying an additional 1,201,955 shares during the last quarter. Finally, Lasalle Investment Management Securities LLC purchased a new stake in DiamondRock Hospitality during the 4th quarter valued at $9,982,000.

DiamondRock Hospitality Company Profile

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.