DiamondRock Hospitality (NYSE:DRH) Sets New 52-Week Low – Should You Sell?

DiamondRock Hospitality (NYSE:DRH) shares reached a new 52-week low on Wednesday . The stock traded as low as $6.32 and last traded at $6.39, with a volume of 3815138 shares traded. The stock had previously closed at $6.72.

Analyst Ratings Changes

Separately, Wells Fargo & Company cut their price target on shares of 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 given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $10.05.

DiamondRock Hospitality Price Performance

The stock has a fifty day moving average of $8.09 and a 200-day moving average of $8.73. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.66. The firm has a market capitalization of $1.33 billion, a P/E ratio of 22.80, a PEG ratio of 2.06 and a beta of 1.38.

DiamondRock Hospitality Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be given a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 5.01%. The ex-dividend date of this dividend is Friday, March 28th. This is a boost from DiamondRock Hospitality’s previous quarterly dividend of $0.03. DiamondRock Hospitality’s payout ratio is 188.24%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Versant Capital Management Inc boosted 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 valued at $29,000 after acquiring an additional 2,256 shares during the last quarter. GF Fund Management CO. LTD. bought a new position in shares of DiamondRock Hospitality in the 4th quarter valued at about $34,000. State of Wyoming acquired a new stake in shares of DiamondRock Hospitality during the 4th quarter worth approximately $54,000. FIL Ltd bought a new stake in shares of DiamondRock Hospitality during the fourth quarter worth approximately $60,000. Finally, Smartleaf Asset Management LLC lifted its holdings in DiamondRock Hospitality by 278.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 9,769 shares of the real estate investment trust’s stock valued at $89,000 after buying an additional 7,189 shares during the period.

DiamondRock Hospitality Company Profile

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.