Stifel Nicolaus Has Lowered Expectations for DiamondRock Hospitality (NYSE:DRH) Stock Price

DiamondRock Hospitality (NYSE:DRH) had its price objective lowered by Stifel Nicolaus from $9.75 to $8.00 in a research report report published on Wednesday morning,Benzinga reports. The brokerage currently has a hold rating on the real estate investment trust’s stock.

Separately, Wells Fargo & Company dropped their price objective on DiamondRock Hospitality from $10.50 to $9.50 and set an “equal weight” rating for the company in a report on Tuesday, February 18th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $9.60.

DiamondRock Hospitality Stock Performance

Shares of NYSE:DRH opened at $6.85 on Wednesday. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $1.43 billion, a price-to-earnings ratio of 24.46, a PEG ratio of 2.06 and a beta of 1.38. DiamondRock Hospitality has a 12 month low of $6.19 and a 12 month high of $10.00. The firm’s 50-day moving average is $7.86 and its 200 day moving average is $8.64.

DiamondRock Hospitality Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Friday, March 28th were issued a $0.08 dividend. The ex-dividend date was Friday, March 28th. This represents a $0.32 annualized dividend and a dividend yield of 4.67%. This is a positive change from DiamondRock Hospitality’s previous quarterly dividend of $0.03. DiamondRock Hospitality’s payout ratio is currently 188.24%.

Hedge Funds Weigh In On DiamondRock Hospitality

A number of hedge funds and other institutional investors have recently modified their holdings of DRH. Nissay Asset Management Corp Japan ADV raised its stake in DiamondRock Hospitality by 4.0% in the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 31,738 shares of the real estate investment trust’s stock worth $292,000 after buying an additional 1,216 shares in the last quarter. Xponance Inc. increased its holdings in shares of DiamondRock Hospitality by 9.9% in the 4th quarter. Xponance Inc. now owns 15,098 shares of the real estate investment trust’s stock valued at $136,000 after acquiring an additional 1,360 shares during the period. Ancora Advisors LLC lifted its stake in shares of DiamondRock Hospitality by 0.9% during the 4th quarter. Ancora Advisors LLC now owns 164,150 shares of the real estate investment trust’s stock worth $1,482,000 after purchasing an additional 1,490 shares during the last quarter. Vert Asset Management LLC grew its stake in DiamondRock Hospitality by 2.1% in the fourth quarter. Vert Asset Management LLC now owns 82,570 shares of the real estate investment trust’s stock valued at $746,000 after purchasing an additional 1,729 shares during the last quarter. Finally, Versant Capital Management Inc raised its holdings in DiamondRock Hospitality by 156.3% in the first quarter. Versant Capital Management Inc now owns 3,699 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 2,256 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.