DiamondRock Hospitality (NYSE:DRH) Receives Average Rating of “Hold” from Analysts

DiamondRock Hospitality (NYSE:DRH) has received an average recommendation of “Hold” from the five analysts that are currently covering the stock, MarketBeat reports. Three investment analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $10.13.

Several research firms have weighed in on DRH. Wells Fargo & Company dropped their target price on shares of DiamondRock Hospitality from $9.50 to $9.00 and set an “equal weight” rating on the stock in a research report on Friday, September 13th. Stifel Nicolaus downgraded DiamondRock Hospitality from a “buy” rating to a “hold” rating and decreased their target price for the stock from $10.75 to $10.25 in a report on Friday, November 22nd. Evercore ISI downgraded shares of DiamondRock Hospitality from an “outperform” rating to an “inline” rating and set a $10.50 price objective on the stock. in a report on Friday, November 15th. StockNews.com raised shares of DiamondRock Hospitality from a “sell” rating to a “hold” rating in a report on Tuesday, November 12th. Finally, Truist Financial lowered their price target on shares of DiamondRock Hospitality from $11.00 to $10.00 and set a “hold” rating on the stock in a report on Wednesday, September 4th.

DiamondRock Hospitality Price Performance

Shares of DRH stock opened at $9.59 on Friday. DiamondRock Hospitality has a 1-year low of $7.74 and a 1-year high of $10.00. The stock’s 50-day moving average is $9.00 and its 200 day moving average is $8.60. The company has a market cap of $1.99 billion, a P/E ratio of 34.25, a PEG ratio of 5.44 and a beta of 1.60. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.73 and a quick ratio of 1.73.

Institutional Investors Weigh In On DiamondRock Hospitality

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Orion Portfolio Solutions LLC increased its stake in DiamondRock Hospitality by 1.6% during the third quarter. Orion Portfolio Solutions LLC now owns 104,965 shares of the real estate investment trust’s stock worth $916,000 after acquiring an additional 1,652 shares during the last quarter. Evergreen Capital Management LLC increased its stake in DiamondRock Hospitality by 14.4% during the second quarter. Evergreen Capital Management LLC now owns 14,372 shares of the real estate investment trust’s stock worth $122,000 after acquiring an additional 1,810 shares during the last quarter. Louisiana State Employees Retirement System increased its stake in DiamondRock Hospitality by 1.8% during the second quarter. Louisiana State Employees Retirement System now owns 105,700 shares of the real estate investment trust’s stock worth $893,000 after acquiring an additional 1,900 shares during the last quarter. Van ECK Associates Corp increased its stake in DiamondRock Hospitality by 6.7% during the second quarter. Van ECK Associates Corp now owns 32,191 shares of the real estate investment trust’s stock worth $272,000 after acquiring an additional 2,028 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in DiamondRock Hospitality by 35.1% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,153 shares of the real estate investment trust’s stock worth $73,000 after acquiring an additional 2,116 shares during 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.