DiamondRock Hospitality (NYSE:DRH) Downgraded by Stifel Nicolaus to Hold

Stifel Nicolaus cut shares of DiamondRock Hospitality (NYSE:DRH) from a buy rating to a hold rating in a research note issued to investors on Friday, Marketbeat.com reports. The firm currently has $10.25 target price on the real estate investment trust’s stock, down from their previous target price of $10.75.

Other equities research analysts have also recently issued research reports about the company. StockNews.com raised DiamondRock Hospitality from a “sell” rating to a “hold” rating in a report on Tuesday, November 12th. Wells Fargo & Company cut their price objective 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. Evercore ISI lowered DiamondRock Hospitality from an “outperform” rating to an “inline” rating and set a $10.50 target price on the stock. in a report on Friday, November 15th. Truist Financial dropped their price target on shares of DiamondRock Hospitality from $11.00 to $10.00 and set a “hold” rating on the stock in a research 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 price objective for the company in a research report on Monday, August 5th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $10.13.

DiamondRock Hospitality Stock Performance

Shares of DRH stock opened at $9.16 on Friday. DiamondRock Hospitality has a 12-month low of $7.74 and a 12-month high of $9.99. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.73 and a quick ratio of 1.73. The firm has a market capitalization of $1.90 billion, a price-to-earnings ratio of 32.71, a price-to-earnings-growth ratio of 5.54 and a beta of 1.60. The business has a 50 day simple moving average of $8.92 and a 200 day simple moving average of $8.55.

DiamondRock Hospitality Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Monday, September 30th were issued a dividend of $0.03 per share. The ex-dividend date was Monday, September 30th. This represents a $0.12 annualized dividend and a dividend yield of 1.31%. DiamondRock Hospitality’s dividend payout ratio is 42.86%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Rush Island Management LP bought a new stake in shares of DiamondRock Hospitality during the 3rd quarter worth about $51,726,000. Millennium Management LLC bought a new stake in DiamondRock Hospitality during the second quarter worth approximately $15,118,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of DiamondRock Hospitality by 326.6% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,235,728 shares of the real estate investment trust’s stock valued at $10,788,000 after purchasing an additional 946,073 shares during the period. Hotchkis & Wiley Capital Management LLC bought a new position in shares of DiamondRock Hospitality in the third quarter valued at approximately $6,442,000. Finally, Wellington Management Group LLP lifted its stake in shares of DiamondRock Hospitality by 15.6% in the third quarter. Wellington Management Group LLP now owns 4,925,093 shares of the real estate investment trust’s stock worth $42,996,000 after buying an additional 663,529 shares during the last quarter.

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.