DiamondRock Hospitality (NYSE:DRH) Given Consensus Recommendation of “Hold” by Brokerages

Shares of DiamondRock Hospitality (NYSE:DRH) have earned an average rating of “Hold” from the five ratings firms that are presently covering the stock, Marketbeat reports. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $10.30.

A number of research analysts have recently commented on the stock. StockNews.com cut shares of DiamondRock Hospitality from a “hold” rating to a “sell” rating in a research report on Saturday, February 3rd. Stifel Nicolaus lifted their price target on shares of DiamondRock Hospitality from $10.00 to $10.50 and gave the stock a “buy” rating in a research note on Friday, February 23rd. Wolfe Research initiated coverage on shares of DiamondRock Hospitality in a research note on Wednesday, January 10th. They issued an “outperform” rating and a $11.00 price target for the company. Wells Fargo & Company lifted their price target on shares of DiamondRock Hospitality from $9.00 to $10.00 and gave the stock an “equal weight” rating in a research note on Friday, December 22nd. Finally, Truist Financial lifted their price target on shares of DiamondRock Hospitality from $10.00 to $11.00 and gave the stock a “hold” rating in a research note on Thursday, March 14th.

DiamondRock Hospitality Stock Performance

NYSE DRH opened at $8.78 on Friday. The company’s fifty day simple moving average is $9.38 and its 200-day simple moving average is $8.93. DiamondRock Hospitality has a 52 week low of $7.33 and a 52 week high of $9.99. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 0.71. The stock has a market cap of $1.85 billion, a P/E ratio of 24.39 and a beta of 1.60.

DiamondRock Hospitality (NYSE:DRH) last posted its earnings results on Friday, February 23rd. The real estate investment trust reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.14). DiamondRock Hospitality had a return on equity of 5.29% and a net margin of 8.03%. The firm had revenue of $263.50 million for the quarter, compared to analyst estimates of $261.45 million. During the same period in the previous year, the firm posted $0.23 earnings per share. The company’s revenue for the quarter was up 3.3% on a year-over-year basis. Equities research analysts predict that DiamondRock Hospitality will post 0.96 EPS for the current fiscal year.

DiamondRock Hospitality Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Friday, March 29th were paid a dividend of $0.03 per share. The ex-dividend date was Wednesday, March 27th. This represents a $0.12 annualized dividend and a yield of 1.37%. DiamondRock Hospitality’s payout ratio is 33.33%.

Institutional Trading of DiamondRock Hospitality

Institutional investors have recently added to or reduced their stakes in the business. Parallel Advisors LLC increased its stake in DiamondRock Hospitality by 313.5% during the fourth quarter. Parallel Advisors LLC now owns 3,196 shares of the real estate investment trust’s stock valued at $30,000 after purchasing an additional 2,423 shares during the last quarter. Quadrant Capital Group LLC increased its stake in DiamondRock Hospitality by 195.7% during the fourth quarter. Quadrant Capital Group LLC now owns 3,330 shares of the real estate investment trust’s stock valued at $31,000 after purchasing an additional 2,204 shares during the last quarter. National Bank of Canada FI bought a new position in shares of DiamondRock Hospitality during the third quarter worth about $30,000. Tower Research Capital LLC TRC grew its position in shares of DiamondRock Hospitality by 711.7% during the first quarter. Tower Research Capital LLC TRC now owns 7,119 shares of the real estate investment trust’s stock worth $58,000 after acquiring an additional 6,242 shares during the last quarter. Finally, Advisor Partners II LLC bought a new position in shares of DiamondRock Hospitality during the first quarter worth about $83,000.

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.