Analysts Set DiamondRock Hospitality (NYSE:DRH) Price Target at $10.05

DiamondRock Hospitality (NYSE:DRH) has earned an average recommendation of “Hold” from the four research firms that are covering the stock, Marketbeat.com reports. Three investment analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 1 year price target among brokerages that have covered the stock in the last year is $10.05.

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

DiamondRock Hospitality Stock Performance

Shares of DRH stock opened at $6.39 on Friday. DiamondRock Hospitality has a 12 month low of $6.32 and a 12 month high of $10.00. The stock 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. 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 firm’s 50 day moving average is $8.09 and its 200 day moving average is $8.73.

DiamondRock Hospitality Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 5.01%. The ex-dividend date is Friday, March 28th. This is a positive change from DiamondRock Hospitality’s previous quarterly dividend of $0.03. DiamondRock Hospitality’s dividend payout ratio is 188.24%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of DRH. Versant Capital Management Inc increased its holdings in shares of 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 worth $29,000 after purchasing an additional 2,256 shares during the period. GF Fund Management CO. LTD. purchased a new position in DiamondRock Hospitality during the fourth quarter worth about $34,000. State of Wyoming bought a new position in DiamondRock Hospitality in the 4th quarter worth about $54,000. FIL Ltd bought a new position in DiamondRock Hospitality in the 4th quarter worth about $60,000. Finally, Smartleaf Asset Management LLC raised its holdings in shares of DiamondRock Hospitality by 278.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 9,769 shares of the real estate investment trust’s stock valued at $89,000 after acquiring an additional 7,189 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.