DiamondRock Hospitality Company (NYSE:DRH) Receives $11.65 Consensus Price Target from Analysts

Shares of DiamondRock Hospitality Company (NYSE:DRH) have earned an average recommendation of “Hold” from the ten ratings firms that are currently covering the company, MarketBeat reports. Seven research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $11.65.

Several brokerages recently issued reports on DRH. Wells Fargo & Company upped their price target on DiamondRock Hospitality from $11.00 to $12.00 and gave the stock an “equal weight” rating in a report on Monday, June 1st. LADENBURG THALM/SH SH raised their price objective on DiamondRock Hospitality from $13.00 to $14.00 and gave the company a “buy” rating in a research note on Thursday, June 18th. Morgan Stanley lifted their price objective on shares of DiamondRock Hospitality from $9.50 to $9.60 and gave the stock an “equal weight” rating in a report on Tuesday, May 12th. Stifel Nicolaus set a $12.25 target price on shares of DiamondRock Hospitality in a research note on Thursday, June 4th. Finally, Barclays increased their target price on shares of DiamondRock Hospitality from $10.00 to $12.00 and gave the company an “equal weight” rating in a report on Monday, June 1st.

Insider Activity

In other DiamondRock Hospitality news, Director Michael A. Hartmeier sold 20,000 shares of DiamondRock Hospitality stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $10.46, for a total transaction of $209,200.00. Following the transaction, the director owned 95,354 shares of the company’s stock, valued at $997,402.84. This trade represents a 17.34% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kathleen Merrill sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $11.88, for a total value of $237,600.00. Following the completion of the transaction, the director owned 84,335 shares in the company, valued at $1,001,899.80. The trade was a 19.17% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.90% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Bank of America Corp DE increased its position in shares of DiamondRock Hospitality by 7.2% during the 1st quarter. Bank of America Corp DE now owns 8,987,338 shares of the real estate investment trust’s stock valued at $84,211,000 after purchasing an additional 606,962 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in shares of DiamondRock Hospitality by 10.1% in the 1st quarter. Janus Henderson Group PLC now owns 1,312,694 shares of the real estate investment trust’s stock worth $12,299,000 after buying an additional 119,921 shares during the last quarter. Amundi boosted its holdings in shares of DiamondRock Hospitality by 30.9% in the 1st quarter. Amundi now owns 191,306 shares of the real estate investment trust’s stock worth $1,793,000 after buying an additional 45,198 shares during the last quarter. California State Teachers Retirement System grew its position in DiamondRock Hospitality by 30.2% during the first quarter. California State Teachers Retirement System now owns 249,084 shares of the real estate investment trust’s stock valued at $2,334,000 after buying an additional 57,774 shares during the period. Finally, Quantinno Capital Management LP grew its position in DiamondRock Hospitality by 43.2% during the first quarter. Quantinno Capital Management LP now owns 82,542 shares of the real estate investment trust’s stock valued at $773,000 after buying an additional 24,889 shares during the period.

DiamondRock Hospitality Stock Performance

NYSE:DRH opened at $12.08 on Friday. The company has a market cap of $2.47 billion, a PE ratio of 48.32, a PEG ratio of 4.50 and a beta of 0.98. DiamondRock Hospitality has a one year low of $7.45 and a one year high of $12.54. The firm has a 50-day moving average of $11.26 and a 200-day moving average of $10.15. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.64 and a quick ratio of 1.64.

DiamondRock Hospitality Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 14th. Shareholders of record on Tuesday, June 30th will be given a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend is Tuesday, June 30th. DiamondRock Hospitality’s dividend payout ratio is presently 76.60%.

DiamondRock Hospitality Company Profile

DiamondRock Hospitality Company is a real estate investment trust (REIT) that acquires, owns and manages a diversified portfolio of upscale, full-service hotels in urban gateway markets across the United States. Established in 2004 and headquartered in Bethesda, Maryland, the company focuses on investing in high-quality lodging properties that cater to both business and leisure travelers. Its assets are positioned in key metropolitan areas, enabling DiamondRock to benefit from strong demand drivers such as corporate travel, group conventions and resort leisure stays.

The company’s portfolio includes full-service hotels offering a broad range of amenities, including guest rooms, on-site food and beverage outlets, meeting and event space, fitness centers and spa services.