DiamondRock Hospitality (NYSE:DRH) Upgraded by StockNews.com to Hold Rating

StockNews.com upgraded shares of DiamondRock Hospitality (NYSE:DRH) from a sell rating to a hold rating in a research note released on Tuesday morning.

Several other research analysts also recently weighed in on DRH. Truist Financial cut their target price on shares of DiamondRock Hospitality from $11.00 to $10.00 and set a “hold” rating for the company in a research note on Wednesday, September 4th. Compass Point raised shares of DiamondRock Hospitality from a “neutral” rating to a “buy” rating and set a $10.00 price objective on the stock in a research note on Monday, August 5th. Finally, Wells Fargo & Company lowered their price objective on DiamondRock Hospitality from $9.50 to $9.00 and set an “equal weight” rating for the company in a research report on Friday, September 13th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $10.10.

DiamondRock Hospitality Price Performance

Shares of NYSE:DRH opened at $9.16 on Tuesday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 2.03 and a current ratio of 1.73. The business’s fifty day moving average price is $8.80 and its two-hundred day moving average price is $8.54. The stock has a market cap of $1.90 billion, a PE ratio of 32.71, a price-to-earnings-growth ratio of 5.38 and a beta of 1.60. DiamondRock Hospitality has a one year low of $7.74 and a one year high of $9.99.

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 issued a $0.03 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.31%. DiamondRock Hospitality’s dividend payout ratio (DPR) is 42.86%.

Institutional Trading of DiamondRock Hospitality

Institutional investors have recently modified their holdings of the company. Quarry LP raised its position 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 purchasing an additional 3,769 shares during the period. Headlands Technologies LLC purchased a new position in DiamondRock Hospitality in the 2nd quarter worth approximately $42,000. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of DiamondRock Hospitality by 35.1% during the third 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 purchasing an additional 2,116 shares during the period. Harbor Capital Advisors Inc. purchased a new position in shares of DiamondRock Hospitality in the third quarter valued at $74,000. Finally, Choreo LLC purchased a new position in shares of DiamondRock Hospitality in the second quarter valued at $89,000.

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.