DiamondRock Hospitality (NYSE:DRH) Downgraded by Stifel Nicolaus to Hold

Stifel Nicolaus lowered shares of DiamondRock Hospitality (NYSE:DRH) from a buy rating to a hold rating in a research note released on Friday, Marketbeat reports. Stifel Nicolaus currently has $10.25 price objective on the real estate investment trust’s stock, down from their previous price objective of $10.75.

DRH has been the topic of a number of other reports. Wells Fargo & Company cut their price objective on DiamondRock Hospitality from $9.50 to $9.00 and set an “equal weight” rating on the stock in a research note on Friday, September 13th. StockNews.com upgraded shares of DiamondRock Hospitality from a “sell” rating to a “hold” rating in a research note on Tuesday, November 12th. Evercore ISI lowered shares of DiamondRock Hospitality from an “outperform” rating to an “inline” rating and set a $10.50 target price on the stock. in a research note on Friday, November 15th. Truist Financial dropped their target price on shares of DiamondRock Hospitality from $11.00 to $10.00 and set a “hold” rating on the stock in a report on Wednesday, September 4th. Finally, Compass Point raised DiamondRock Hospitality from a “neutral” rating to a “buy” rating and set a $10.00 price target on the stock in a research report on Monday, August 5th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $10.13.

DiamondRock Hospitality Trading Up 2.1 %

DiamondRock Hospitality stock opened at $9.35 on Friday. DiamondRock Hospitality has a one year low of $7.74 and a one year high of $9.99. The company’s fifty day moving average price is $8.92 and its two-hundred day moving average price is $8.55. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.73 and a quick ratio of 1.73. The company has a market capitalization of $1.94 billion, a price-to-earnings ratio of 33.18, a PEG ratio of 5.56 and a beta of 1.60.

DiamondRock Hospitality Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Monday, September 30th were paid a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 1.28%. The ex-dividend date of this dividend was Monday, September 30th. DiamondRock Hospitality’s payout ratio is currently 42.86%.

Institutional Investors Weigh In On DiamondRock Hospitality

Several hedge funds have recently made changes to their positions in the stock. State Street Corp raised its stake in shares of DiamondRock Hospitality by 1.8% in the third quarter. State Street Corp now owns 12,535,384 shares of the real estate investment trust’s stock valued at $109,806,000 after purchasing an additional 221,219 shares in the last quarter. Pzena Investment Management LLC increased its holdings in DiamondRock Hospitality by 3.6% in the 3rd quarter. Pzena Investment Management LLC now owns 9,153,018 shares of the real estate investment trust’s stock valued at $79,906,000 after buying an additional 317,901 shares during the period. Rush Island Management LP acquired a new position in shares of DiamondRock Hospitality in the 3rd quarter valued at $51,726,000. Geode Capital Management LLC lifted its holdings in shares of DiamondRock Hospitality by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 5,350,283 shares of the real estate investment trust’s stock worth $46,716,000 after acquiring an additional 28,391 shares during the period. Finally, Wellington Management Group LLP boosted its position in shares of DiamondRock Hospitality by 15.6% during the 3rd quarter. Wellington Management Group LLP now owns 4,925,093 shares of the real estate investment trust’s stock valued at $42,996,000 after acquiring an additional 663,529 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.