DiamondRock Hospitality Company (NYSE:DRH) Receives Average Recommendation of “Hold” from Analysts

Shares of DiamondRock Hospitality Company (NYSE:DRH) have been given a consensus recommendation of “Hold” by the ten analysts that are covering the company, Marketbeat reports. Seven analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $11.3167.

Several research analysts have weighed in on the stock. Wells Fargo & Company upped their target price on shares of DiamondRock Hospitality from $11.00 to $12.00 and gave the stock an “equal weight” rating in a research report on Monday. Morgan Stanley upped their target price on shares of DiamondRock Hospitality from $9.50 to $9.60 and gave the stock an “equal weight” rating in a research report on Tuesday, May 12th. LADENBURG THALM/SH SH assumed coverage on shares of DiamondRock Hospitality in a research report on Thursday, March 26th. They set a “buy” rating and a $12.00 target price on the stock. Truist Financial upped their target price on shares of DiamondRock Hospitality from $11.00 to $12.00 and gave the stock a “buy” rating in a research report on Tuesday, May 26th. Finally, Barclays upped their target price on shares of DiamondRock Hospitality from $10.00 to $12.00 and gave the stock an “equal weight” rating in a research report on Monday.

DiamondRock Hospitality Trading Up 1.7%

Shares of DRH opened at $11.18 on Wednesday. The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 0.70. The firm’s 50-day moving average is $10.22 and its two-hundred day moving average is $9.65. DiamondRock Hospitality has a twelve month low of $7.39 and a twelve month high of $11.27. The firm has a market capitalization of $2.29 billion, a P/E ratio of 44.72, a PEG ratio of 4.50 and a beta of 0.99.

DiamondRock Hospitality Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 14th. Shareholders of record on Tuesday, June 30th will be given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 3.2%. The ex-dividend date is Tuesday, June 30th. DiamondRock Hospitality’s dividend payout ratio is presently 76.60%.

Insider Activity at DiamondRock Hospitality

In other news, Director Michael A. Hartmeier sold 20,000 shares of the stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $10.46, for a total value of $209,200.00. Following the sale, the director directly owned 95,354 shares in the company, valued at $997,402.84. This represents a 17.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.90% of the stock is owned by corporate insiders.

Institutional Trading of DiamondRock Hospitality

Large investors have recently modified their holdings of the business. Allworth Financial LP grew its position in shares of DiamondRock Hospitality by 146.0% in the fourth quarter. Allworth Financial LP now owns 2,859 shares of the real estate investment trust’s stock valued at $26,000 after purchasing an additional 1,697 shares during the last quarter. First Horizon Corp grew its position in shares of DiamondRock Hospitality by 54.9% in the fourth quarter. First Horizon Corp now owns 3,214 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 1,139 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in shares of DiamondRock Hospitality by 77.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 3,436 shares of the real estate investment trust’s stock valued at $31,000 after purchasing an additional 1,498 shares during the last quarter. Global Retirement Partners LLC grew its position in shares of DiamondRock Hospitality by 12,114.7% in the fourth quarter. Global Retirement Partners LLC now owns 4,153 shares of the real estate investment trust’s stock valued at $37,000 after purchasing an additional 4,119 shares during the last quarter. Finally, Danske Bank A S acquired a new stake in shares of DiamondRock Hospitality in the third quarter valued at approximately $33,000.

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.