Analysts Set DiamondRock Hospitality (NYSE:DRH) Target Price at $10.05

DiamondRock Hospitality (NYSE:DRH) has been assigned an average recommendation of “Hold” from the four analysts that are currently covering the stock, Marketbeat.com reports. Three equities research 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.

DRH has been the subject of several recent research reports. Wells Fargo & Company decreased their price objective on DiamondRock Hospitality from $10.50 to $9.50 and set an “equal weight” rating for the company in a report on Tuesday, February 18th. Stifel Nicolaus lowered DiamondRock Hospitality from a “buy” rating to a “hold” rating and cut their price target for the stock from $10.75 to $10.25 in a report on Friday, November 22nd. Finally, Evercore ISI lowered DiamondRock Hospitality from an “outperform” rating to an “inline” rating and set a $10.50 price objective on the stock. in a research note on Friday, November 15th.

Institutional Investors Weigh In On DiamondRock Hospitality

Institutional investors and hedge funds have recently made changes to their positions in the business. GF Fund Management CO. LTD. bought a new position in DiamondRock Hospitality in the 4th quarter worth about $34,000. GTS Securities LLC bought a new position in shares of DiamondRock Hospitality in the fourth quarter worth approximately $105,000. PharVision Advisers LLC purchased a new stake in DiamondRock Hospitality in the fourth quarter valued at approximately $98,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in DiamondRock Hospitality by 3.5% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,279,283 shares of the real estate investment trust’s stock valued at $11,552,000 after purchasing an additional 43,555 shares during the last quarter. Finally, Voloridge Investment Management LLC bought a new stake in DiamondRock Hospitality during the fourth quarter valued at approximately $604,000.

DiamondRock Hospitality Price Performance

DiamondRock Hospitality stock opened at $7.91 on Monday. The business’s 50 day simple moving average is $8.57 and its 200 day simple moving average is $8.85. DiamondRock Hospitality has a 12 month low of $7.69 and a 12 month high of $10.00. The company has a market cap of $1.64 billion, a price-to-earnings ratio of 28.23, a PEG ratio of 2.06 and a beta of 1.63. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.66.

DiamondRock Hospitality Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be given a dividend of $0.08 per share. This is a positive change from DiamondRock Hospitality’s previous quarterly dividend of $0.03. This represents a $0.32 dividend on an annualized basis and a dividend yield of 4.05%. The ex-dividend date of this dividend is Friday, March 28th. DiamondRock Hospitality’s payout ratio is 188.24%.

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.