DiamondRock Hospitality Company (NYSE:DRH) Receives Consensus Rating of “Hold” from Brokerages

DiamondRock Hospitality Company (NYSE:DRH) has been assigned a consensus recommendation of “Hold” from the eleven ratings firms that are presently covering the company, MarketBeat.com reports. Seven investment analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year price target among analysts that have covered the stock in the last year is $12.0250.

DRH has been the topic of a number of recent analyst reports. Morgan Stanley upped their target price on shares of DiamondRock Hospitality from $9.60 to $10.00 and gave the company an “equal weight” rating in a research note on Friday, July 17th. Barclays boosted their price objective on DiamondRock Hospitality from $10.00 to $12.00 and gave the company an “equal weight” rating in a report on Monday, June 1st. Stifel Nicolaus set a $12.25 price objective on DiamondRock Hospitality in a research note on Thursday, June 4th. Citigroup increased their target price on DiamondRock Hospitality from $11.00 to $13.00 and gave the stock a “neutral” rating in a report on Wednesday. Finally, LADENBURG THALM/SH SH lifted their target price on DiamondRock Hospitality from $13.00 to $14.00 and gave the stock a “buy” rating in a research report on Thursday, June 18th.

DiamondRock Hospitality Trading Down 0.5%

NYSE DRH opened at $12.90 on Thursday. The company has a market capitalization of $2.64 billion, a price-to-earnings ratio of 51.60, a price-to-earnings-growth ratio of 4.50 and a beta of 0.98. 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 has a 12 month low of $7.45 and a 12 month high of $13.05. The company’s fifty day moving average price is $11.72 and its two-hundred day moving average price is $10.44.

DiamondRock Hospitality Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 14th. Investors of record on Tuesday, June 30th were paid a dividend of $0.09 per share. The ex-dividend date was Tuesday, June 30th. This represents a $0.36 annualized dividend and a yield of 2.8%. DiamondRock Hospitality’s dividend payout ratio (DPR) is 76.60%.

Insiders Place Their Bets

In other DiamondRock Hospitality news, Director Michael A. Hartmeier sold 20,000 shares of DiamondRock Hospitality stock in a transaction 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 completion of the transaction, the director owned 95,354 shares of the company’s stock, valued at $997,402.84. The trade was a 17.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Kathleen Merrill sold 20,000 shares of the business’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $11.88, for a total transaction of $237,600.00. Following the sale, the director owned 84,335 shares of the company’s stock, valued at approximately $1,001,899.80. The trade was a 19.17% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.90% of the company’s stock.

Institutional Investors Weigh In On DiamondRock Hospitality

Several institutional investors and hedge funds have recently bought and sold shares of DRH. Allworth Financial LP lifted its holdings in 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 worth $26,000 after acquiring an additional 1,697 shares during the last quarter. First Horizon Corp boosted its stake in 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 acquiring an additional 1,139 shares during the period. EverSource Wealth Advisors LLC grew its holdings in shares of DiamondRock Hospitality by 77.3% during 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. Danske Bank A S bought a new position in shares of DiamondRock Hospitality during the third quarter valued at approximately $33,000. Finally, Global Retirement Partners LLC raised its position in shares of DiamondRock Hospitality by 12,114.7% during the 4th quarter. Global Retirement Partners LLC now owns 4,153 shares of the real estate investment trust’s stock worth $37,000 after purchasing an additional 4,119 shares during the period.

About DiamondRock Hospitality

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.