DiamondRock Hospitality (NYSE:DRH) Given Average Rating of “Hold” by Brokerages

DiamondRock Hospitality (NYSE:DRH) has been assigned an average recommendation of “Hold” from the four analysts that are presently covering the firm, Marketbeat.com reports. Three investment analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $10.05.

Several research firms have recently issued reports on DRH. Wells Fargo & Company decreased their price objective on shares of DiamondRock Hospitality from $10.50 to $9.50 and set an “equal weight” rating for the company in a research report on Tuesday. StockNews.com raised shares of DiamondRock Hospitality from a “sell” rating to a “hold” rating in a research report on Tuesday, November 12th. Stifel Nicolaus cut shares of DiamondRock Hospitality from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $10.75 to $10.25 in a research report on Friday, November 22nd. Finally, Evercore ISI cut shares of DiamondRock Hospitality from an “outperform” rating to an “inline” rating and set a $10.50 price objective for the company. in a research report on Friday, November 15th.

DiamondRock Hospitality Stock Performance

Shares of DRH stock opened at $8.68 on Thursday. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.66. DiamondRock Hospitality has a 52 week low of $7.74 and a 52 week high of $10.00. The stock has a market capitalization of $1.80 billion, a PE ratio of 30.98, a P/E/G ratio of 4.79 and a beta of 1.57. The firm has a 50 day moving average of $8.95 and a two-hundred day moving average of $8.86.

DiamondRock Hospitality Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 14th. Shareholders of record on Tuesday, December 31st were paid a $0.32 dividend. The ex-dividend date was Tuesday, December 31st. This is a positive change from DiamondRock Hospitality’s previous quarterly dividend of $0.03. This represents a $1.28 dividend on an annualized basis and a yield of 14.76%. DiamondRock Hospitality’s payout ratio is currently 42.86%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of DRH. Rush Island Management LP acquired a new position in DiamondRock Hospitality in the third quarter valued at $51,726,000. Bank of America Corp DE increased its stake in DiamondRock Hospitality by 78.8% in the fourth quarter. Bank of America Corp DE now owns 6,953,022 shares of the real estate investment trust’s stock valued at $62,786,000 after purchasing an additional 3,064,117 shares during the period. Cbre Investment Management Listed Real Assets LLC acquired a new position in DiamondRock Hospitality in the fourth quarter valued at $14,889,000. Alyeska Investment Group L.P. increased its stake in DiamondRock Hospitality by 16.3% in the fourth quarter. Alyeska Investment Group L.P. now owns 8,576,077 shares of the real estate investment trust’s stock valued at $77,442,000 after purchasing an additional 1,201,955 shares during the period. Finally, Lasalle Investment Management Securities LLC acquired a new position in DiamondRock Hospitality in the fourth quarter valued at $9,982,000.

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.