DiamondRock Hospitality (NYSE:DRH) Downgraded by Evercore ISI to Inline

Evercore ISI lowered shares of DiamondRock Hospitality (NYSE:DRH) from an outperform rating to an inline rating in a research report report published on Friday morning, Marketbeat.com reports. They currently have $10.50 target price on the real estate investment trust’s stock.

A number of other equities analysts have also recently commented on DRH. Compass Point raised shares of DiamondRock Hospitality from a “neutral” rating to a “buy” rating and set a $10.00 price target for the company in a research note on Monday, August 5th. StockNews.com upgraded shares of DiamondRock Hospitality from a “sell” rating to a “hold” rating in a research note on Tuesday, November 12th. Truist Financial reduced their price objective on DiamondRock Hospitality from $11.00 to $10.00 and set a “hold” rating on the stock in a report on Wednesday, September 4th. Finally, Wells Fargo & Company lowered 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. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $10.17.

DiamondRock Hospitality Stock Up 0.2 %

Shares of DRH opened at $8.88 on Friday. The company has a quick ratio of 2.03, a current ratio of 1.73 and a debt-to-equity ratio of 0.66. The business has a fifty day moving average of $8.85 and a 200 day moving average of $8.54. The company has a market cap of $1.84 billion, a PE ratio of 31.70, a P/E/G ratio of 5.16 and a beta of 1.60. DiamondRock Hospitality has a 52-week low of $7.74 and a 52-week high of $9.99.

DiamondRock Hospitality Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Monday, September 30th were paid a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.35%. The ex-dividend date was Monday, September 30th. DiamondRock Hospitality’s dividend payout ratio (DPR) is currently 42.86%.

Hedge Funds Weigh In On DiamondRock Hospitality

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Natixis bought a new stake in shares of DiamondRock Hospitality in the 1st quarter valued at about $728,000. Russell Investments Group Ltd. lifted its position in DiamondRock Hospitality by 19.9% during the first quarter. Russell Investments Group Ltd. now owns 562,844 shares of the real estate investment trust’s stock valued at $5,409,000 after acquiring an additional 93,381 shares during the last quarter. MQS Management LLC acquired a new stake in DiamondRock Hospitality in the second quarter valued at approximately $480,000. Millennium Management LLC purchased a new position in DiamondRock Hospitality in the second quarter worth $15,118,000. Finally, CANADA LIFE ASSURANCE Co increased its position in shares of DiamondRock Hospitality by 5.2% during the first quarter. CANADA LIFE ASSURANCE Co now owns 439,584 shares of the real estate investment trust’s stock worth $4,216,000 after purchasing an additional 21,682 shares in the last quarter.

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.