DiamondRock Hospitality (NYSE:DRH) Lowered to “Hold” Rating by Stifel Nicolaus

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

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

DiamondRock Hospitality Price Performance

Shares of NYSE DRH opened at $9.17 on Friday. The firm has a market cap of $1.90 billion, a P/E ratio of 32.73, a price-to-earnings-growth ratio of 5.54 and a beta of 1.60. The business’s 50 day moving average is $8.90 and its 200-day moving average is $8.55. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.66. DiamondRock Hospitality has a 1-year low of $7.74 and a 1-year high of $9.99.

DiamondRock Hospitality Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Monday, September 30th were issued a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 1.31%. The ex-dividend date of this dividend was Monday, September 30th. DiamondRock Hospitality’s dividend payout ratio is currently 42.86%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Geode Capital Management LLC raised its position in DiamondRock Hospitality by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 5,350,283 shares of the real estate investment trust’s stock valued at $46,716,000 after buying an additional 28,391 shares during the last quarter. Barclays PLC grew its stake in shares of DiamondRock Hospitality by 37.6% in the 3rd quarter. Barclays PLC now owns 368,616 shares of the real estate investment trust’s stock worth $3,219,000 after acquiring an additional 100,805 shares in the last quarter. Orion Portfolio Solutions LLC raised its holdings in shares of DiamondRock Hospitality by 1.6% in the third quarter. Orion Portfolio Solutions LLC now owns 104,965 shares of the real estate investment trust’s stock valued at $916,000 after purchasing an additional 1,652 shares during the last quarter. Jane Street Group LLC lifted its position in shares of DiamondRock Hospitality by 73.0% during the third quarter. Jane Street Group LLC now owns 302,757 shares of the real estate investment trust’s stock valued at $2,643,000 after purchasing an additional 127,717 shares in the last quarter. Finally, Wellington Management Group LLP boosted its holdings in DiamondRock Hospitality by 15.6% during the third quarter. Wellington Management Group LLP now owns 4,925,093 shares of the real estate investment trust’s stock worth $42,996,000 after purchasing an additional 663,529 shares during the last quarter.

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.