DiamondRock Hospitality (NYSE:DRH) Given New $8.00 Price Target at Stifel Nicolaus

DiamondRock Hospitality (NYSE:DRH) had its price objective decreased by Stifel Nicolaus from $9.75 to $8.00 in a research note released on Wednesday,Benzinga reports. Stifel Nicolaus currently has a hold rating on the real estate investment trust’s stock.

Separately, 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 analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $9.60.

DiamondRock Hospitality Stock Performance

NYSE:DRH opened at $6.97 on Wednesday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.73 and a current ratio of 1.73. DiamondRock Hospitality has a fifty-two week low of $6.19 and a fifty-two week high of $10.00. The firm has a market cap of $1.45 billion, a PE ratio of 24.88, a price-to-earnings-growth ratio of 2.06 and a beta of 1.38. The business has a 50 day moving average price of $7.80 and a 200-day moving average price of $8.61.

DiamondRock Hospitality Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Friday, March 28th were given a dividend of $0.08 per share. 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 4.59%. The ex-dividend date was Friday, March 28th. DiamondRock Hospitality’s payout ratio is presently 188.24%.

Institutional Investors Weigh In On DiamondRock Hospitality

Several institutional investors and hedge funds have recently modified their holdings of DRH. Jane Street Group LLC raised its stake in DiamondRock Hospitality by 73.0% in the third quarter. Jane Street Group LLC now owns 302,757 shares of the real estate investment trust’s stock worth $2,643,000 after buying an additional 127,717 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of DiamondRock Hospitality by 18.7% in the 4th quarter. JPMorgan Chase & Co. now owns 5,716,469 shares of the real estate investment trust’s stock worth $51,620,000 after acquiring an additional 901,600 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of DiamondRock Hospitality by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 5,350,283 shares of the real estate investment trust’s stock valued at $46,716,000 after purchasing an additional 28,391 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of DiamondRock Hospitality by 45.2% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 138,327 shares of the real estate investment trust’s stock valued at $1,249,000 after purchasing an additional 43,088 shares in the last quarter. Finally, Cbre Investment Management Listed Real Assets LLC purchased a new stake in DiamondRock Hospitality in the fourth quarter worth $14,889,000.

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.