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

Shares of DiamondRock Hospitality Company (NYSE:DRH) have earned a consensus recommendation of “Hold” from the ten ratings firms that are presently covering the stock, MarketBeat Ratings reports. Seven analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $11.3167.

DRH has been the subject of a number of research reports. Barclays upped 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. LADENBURG THALM/SH SH initiated coverage on shares of DiamondRock Hospitality in a report on Thursday, March 26th. They issued a “buy” rating and a $12.00 target price for the company. Wells Fargo & Company upped their target price on shares of DiamondRock Hospitality from $11.00 to $12.00 and gave the company an “equal weight” rating in a report on Monday. Truist Financial upped their target price on shares of DiamondRock Hospitality from $11.00 to $12.00 and gave the company a “buy” rating in a report on Tuesday, May 26th. Finally, Citigroup boosted their price target on shares of DiamondRock Hospitality from $9.50 to $11.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 6th.

Insider Activity

In other news, Director Michael A. Hartmeier sold 20,000 shares of the business’s stock in a transaction dated 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 directly owned 95,354 shares in the company, valued at $997,402.84. The trade was a 17.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Bank of America Corp DE increased its stake in shares of DiamondRock Hospitality by 7.2% during the first quarter. Bank of America Corp DE now owns 8,987,338 shares of the real estate investment trust’s stock worth $84,211,000 after acquiring an additional 606,962 shares during the period. Janus Henderson Group PLC increased its stake in shares of DiamondRock Hospitality by 10.1% during the first quarter. Janus Henderson Group PLC now owns 1,312,694 shares of the real estate investment trust’s stock worth $12,299,000 after acquiring an additional 119,921 shares during the period. Amundi increased its stake in shares of DiamondRock Hospitality by 30.9% during the first quarter. Amundi now owns 191,306 shares of the real estate investment trust’s stock worth $1,793,000 after acquiring an additional 45,198 shares during the period. California State Teachers Retirement System increased its stake in shares of 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 worth $2,334,000 after acquiring an additional 57,774 shares during the period. Finally, Quantinno Capital Management LP increased its stake in shares of 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 worth $773,000 after acquiring an additional 24,889 shares during the period.

DiamondRock Hospitality Price Performance

Shares of NYSE:DRH opened at $11.18 on Wednesday. The company has a 50-day simple moving average of $10.22 and a 200-day simple moving average of $9.65. DiamondRock Hospitality has a one year low of $7.39 and a one year high of $11.27. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.64 and a current ratio of 1.64. The stock has a market capitalization of $2.29 billion, a price-to-earnings ratio of 44.72, a PEG ratio of 4.50 and a beta of 0.99.

DiamondRock Hospitality Dividend Announcement

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

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.