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

Shares of DiamondRock Hospitality (NYSE:DRH) have been given an average rating of “Hold” by the five research firms that are currently covering the firm, MarketBeat reports. Three analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $10.30.

A number of equities research analysts have issued reports on DRH shares. StockNews.com cut shares of DiamondRock Hospitality from a “hold” rating to a “sell” rating in a report on Saturday, February 3rd. Stifel Nicolaus upped their price target on shares of DiamondRock Hospitality from $10.00 to $10.50 and gave the company a “buy” rating in a report on Friday, February 23rd. Wolfe Research began coverage on shares of DiamondRock Hospitality in a research note on Wednesday, January 10th. They issued an “outperform” rating and a $11.00 target price for the company. Finally, Truist Financial increased their target price on shares of DiamondRock Hospitality from $10.00 to $11.00 and gave the company a “hold” rating in a research note on Thursday, March 14th.

DiamondRock Hospitality Trading Up 2.2 %

DiamondRock Hospitality stock opened at $9.15 on Friday. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.00 and a quick ratio of 2.00. The company has a market capitalization of $1.93 billion, a price-to-earnings ratio of 25.42 and a beta of 1.60. DiamondRock Hospitality has a one year low of $7.33 and a one year high of $9.99. The company’s fifty day moving average price is $9.37 and its two-hundred day moving average price is $8.96.

DiamondRock Hospitality (NYSE:DRH) last posted its earnings results on Friday, February 23rd. The real estate investment trust reported $0.04 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.14). DiamondRock Hospitality had a return on equity of 5.29% and a net margin of 8.03%. The business had revenue of $263.50 million for the quarter, compared to analyst estimates of $261.45 million. During the same period in the previous year, the company earned $0.23 earnings per share. The company’s quarterly revenue was up 3.3% compared to the same quarter last year. On average, analysts forecast that DiamondRock Hospitality will post 0.96 earnings per share for the current fiscal year.

DiamondRock Hospitality Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Friday, March 29th were issued a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 1.31%. The ex-dividend date was Wednesday, March 27th. DiamondRock Hospitality’s payout ratio is 33.33%.

Institutional Trading of DiamondRock Hospitality

Hedge funds have recently modified their holdings of the company. State Board of Administration of Florida Retirement System increased its holdings in shares of DiamondRock Hospitality by 101.1% during the third quarter. State Board of Administration of Florida Retirement System now owns 132,028 shares of the real estate investment trust’s stock worth $1,060,000 after buying an additional 66,388 shares in the last quarter. Public Employees Retirement System of Ohio increased its holdings in shares of DiamondRock Hospitality by 7.9% in the third quarter. Public Employees Retirement System of Ohio now owns 306,213 shares of the real estate investment trust’s stock valued at $2,459,000 after purchasing an additional 22,438 shares in the last quarter. Invesco Ltd. increased its holdings in shares of DiamondRock Hospitality by 3.1% in the third quarter. Invesco Ltd. now owns 5,455,648 shares of the real estate investment trust’s stock valued at $43,809,000 after purchasing an additional 165,142 shares in the last quarter. Diversified Trust Co increased its holdings in shares of DiamondRock Hospitality by 4.2% in the third quarter. Diversified Trust Co now owns 52,385 shares of the real estate investment trust’s stock valued at $421,000 after purchasing an additional 2,108 shares in the last quarter. Finally, Bamco Inc. NY acquired a new stake in shares of DiamondRock Hospitality in the third quarter valued at approximately $3,866,000.

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.