DiamondRock Hospitality (NYSE:DRH) Downgraded by StockNews.com to Sell

StockNews.com downgraded shares of DiamondRock Hospitality (NYSE:DRH) from a hold rating to a sell rating in a research report released on Monday.

A number of other analysts have also commented on DRH. Wells Fargo & Company reduced their target price on DiamondRock Hospitality from $9.50 to $9.00 and set an “equal weight” rating for the company in a report on Friday, September 13th. Truist Financial reduced their price objective on DiamondRock Hospitality from $11.00 to $10.00 and set a “hold” rating for the company in a report on Wednesday, September 4th. Finally, Compass Point upgraded shares of DiamondRock Hospitality from a “neutral” rating to a “buy” rating and set a $10.00 target price on the stock in a research note on Monday, August 5th. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, DiamondRock Hospitality presently has an average rating of “Hold” and an average price target of $10.10.

DiamondRock Hospitality Trading Down 0.5 %

NYSE:DRH opened at $9.25 on Monday. The stock has a market cap of $1.92 billion, a price-to-earnings ratio of 31.90, a PEG ratio of 5.10 and a beta of 1.60. The company has a quick ratio of 2.03, a current ratio of 2.03 and a debt-to-equity ratio of 0.71. The company’s 50 day moving average price is $8.78 and its 200-day moving average price is $8.54. DiamondRock Hospitality has a 52 week low of $7.74 and a 52 week high of $9.99.

DiamondRock Hospitality Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Monday, September 30th were issued a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 1.30%. The ex-dividend date of this dividend was Monday, September 30th. DiamondRock Hospitality’s dividend payout ratio is 41.38%.

Institutional Investors Weigh In On DiamondRock Hospitality

A number of large investors have recently made changes to their positions in DRH. Allspring Global Investments Holdings LLC boosted its holdings in shares of DiamondRock Hospitality by 9.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 46,240 shares of the real estate investment trust’s stock worth $444,000 after buying an additional 3,897 shares during the last quarter. BNP Paribas Financial Markets increased its stake in shares of DiamondRock Hospitality by 13.1% in the 1st quarter. BNP Paribas Financial Markets now owns 105,115 shares of the real estate investment trust’s stock worth $1,010,000 after purchasing an additional 12,194 shares in the last quarter. Daiwa Securities Group Inc. raised its holdings in DiamondRock Hospitality by 7.0% in the 1st quarter. Daiwa Securities Group Inc. now owns 68,151 shares of the real estate investment trust’s stock worth $655,000 after purchasing an additional 4,475 shares during the period. Texas Permanent School Fund Corp lifted its position in DiamondRock Hospitality by 7.1% during the first quarter. Texas Permanent School Fund Corp now owns 183,463 shares of the real estate investment trust’s stock valued at $1,763,000 after purchasing an additional 12,143 shares in the last quarter. Finally, Quantbot Technologies LP purchased a new position in DiamondRock Hospitality during the first quarter valued at $294,000.

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.