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

DiamondRock Hospitality (NYSE:DRH) has been assigned a consensus recommendation of “Hold” from the five analysts that are covering the stock, Marketbeat reports. Three research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $10.30.

DRH has been the topic of a number of analyst reports. Stifel Nicolaus increased their price target on DiamondRock Hospitality from $10.00 to $10.50 and gave the company a “buy” rating in a research note on Friday, February 23rd. StockNews.com lowered DiamondRock Hospitality from a “hold” rating to a “sell” rating in a report on Saturday, February 3rd. Truist Financial lifted their target price on DiamondRock Hospitality from $10.00 to $11.00 and gave the stock a “hold” rating in a report on Thursday, March 14th. Finally, Wolfe Research began coverage on DiamondRock Hospitality in a report on Wednesday, January 10th. They set an “outperform” rating and a $11.00 target price on the stock.

DiamondRock Hospitality Stock Down 1.6 %

NYSE DRH opened at $9.08 on Friday. The stock’s 50 day simple moving average is $9.36 and its 200 day simple moving average is $8.96. DiamondRock Hospitality has a one year low of $7.33 and a one year high of $9.99. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.00 and a quick ratio of 2.00. The firm has a market cap of $1.91 billion, a PE ratio of 25.21 and a beta of 1.60.

DiamondRock Hospitality (NYSE:DRH) last posted its quarterly earnings data on Friday, February 23rd. The real estate investment trust reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.14). The firm had revenue of $263.50 million for the quarter, compared to analyst estimates of $261.45 million. DiamondRock Hospitality had a return on equity of 5.29% and a net margin of 8.03%. The firm’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.23 EPS. As a group, sell-side analysts forecast that DiamondRock Hospitality will post 0.96 earnings per share for the current fiscal year.

DiamondRock Hospitality Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Friday, March 29th were paid a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 1.32%. The ex-dividend date of this dividend was Wednesday, March 27th. DiamondRock Hospitality’s dividend payout ratio is 33.33%.

Institutional Trading of DiamondRock Hospitality

Several hedge funds and other institutional investors have recently modified their holdings of the company. First Trust Direct Indexing L.P. raised its stake in shares of DiamondRock Hospitality by 8.8% in the 4th quarter. First Trust Direct Indexing L.P. now owns 14,660 shares of the real estate investment trust’s stock valued at $138,000 after purchasing an additional 1,181 shares during the period. Swiss National Bank raised its stake in shares of DiamondRock Hospitality by 0.4% in the 3rd quarter. Swiss National Bank now owns 461,100 shares of the real estate investment trust’s stock valued at $3,703,000 after purchasing an additional 1,800 shares during the period. Diversified Trust Co increased its position in shares of DiamondRock Hospitality by 4.2% in the third quarter. Diversified Trust Co now owns 52,385 shares of the real estate investment trust’s stock valued at $421,000 after acquiring an additional 2,108 shares during the last quarter. Quadrant Capital Group LLC increased its position in shares of DiamondRock Hospitality by 195.7% in the fourth quarter. Quadrant Capital Group LLC now owns 3,330 shares of the real estate investment trust’s stock valued at $31,000 after acquiring an additional 2,204 shares during the last quarter. Finally, Metis Global Partners LLC increased its position in shares of DiamondRock Hospitality by 19.4% in the fourth quarter. Metis Global Partners LLC now owns 14,309 shares of the real estate investment trust’s stock valued at $134,000 after acquiring an additional 2,324 shares during 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.