DiamondRock Hospitality (NYSE:DRH) Sets New 12-Month Low – Should You Sell?

Shares of DiamondRock Hospitality (NYSE:DRH) reached a new 52-week low during trading on Friday . The stock traded as low as $7.65 and last traded at $7.77, with a volume of 648354 shares changing hands. The stock had previously closed at $7.98.

Analysts Set New Price Targets

Separately, Wells Fargo & Company dropped their price objective on DiamondRock Hospitality from $10.50 to $9.50 and set an “equal weight” rating on the stock in a report on Tuesday, February 18th. Four 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 stock currently has an average rating of “Hold” and an average target price of $10.05.

DiamondRock Hospitality Trading Down 1.1 %

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 50 day simple moving average of $8.49 and a 200 day simple moving average of $8.83. The stock has a market capitalization of $1.64 billion, a PE ratio of 28.20, a P/E/G ratio of 2.06 and a beta of 1.63.

DiamondRock Hospitality Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be issued a $0.08 dividend. This is a positive change from DiamondRock Hospitality’s previous quarterly dividend of $0.03. The ex-dividend date of this dividend is Friday, March 28th. This represents a $0.32 annualized dividend and a yield of 4.05%. DiamondRock Hospitality’s dividend payout ratio is 188.24%.

Institutional Trading of DiamondRock Hospitality

Hedge funds and other institutional investors have recently bought and sold shares of the company. GF Fund Management CO. LTD. purchased a new stake in shares of DiamondRock Hospitality during the 4th quarter valued at $34,000. GTS Securities LLC purchased a new stake in DiamondRock Hospitality during the 4th quarter worth $105,000. PharVision Advisers LLC acquired a new position in DiamondRock Hospitality in the 4th quarter worth $98,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in DiamondRock Hospitality by 3.5% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,279,283 shares of the real estate investment trust’s stock valued at $11,552,000 after buying an additional 43,555 shares during the last quarter. Finally, Voloridge Investment Management LLC acquired a new stake in shares of DiamondRock Hospitality during the fourth quarter valued at about $604,000.

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.