DiamondRock Hospitality Company (NYSE:DRH) Receives $8.89 Average Price Target from Brokerages

Shares of DiamondRock Hospitality Company (NYSE:DRH - Get Free Report) have been given a consensus recommendation of "Hold" by the seven research firms that are currently covering the company, MarketBeat reports. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $8.89.

Several brokerages have recently issued reports on DRH. Stifel Nicolaus lifted their target price on shares of DiamondRock Hospitality from $8.00 to $8.25 and gave the company a "hold" rating in a research report on Friday, May 2nd. Bank of America raised shares of DiamondRock Hospitality from an "underperform" rating to a "buy" rating and set a $9.50 price target on the stock in a research note on Wednesday, April 30th. Morgan Stanley reduced their target price on shares of DiamondRock Hospitality from $9.00 to $7.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 22nd. Evercore ISI reduced their target price on shares of DiamondRock Hospitality from $10.00 to $9.00 and set an "in-line" rating on the stock in a research note on Monday, April 28th. Finally, Truist Financial reduced their target price on shares of DiamondRock Hospitality from $10.00 to $9.00 and set a "hold" rating on the stock in a research note on Friday, May 30th.

DiamondRock Hospitality Stock Performance

Shares of NYSE DRH traded down $0.01 during midday trading on Wednesday, reaching $7.63. The company had a trading volume of 4,331,901 shares, compared to its average volume of 2,296,181. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 0.69. The business's 50-day simple moving average is $7.48 and its 200 day simple moving average is $8.15. DiamondRock Hospitality has a 1 year low of $6.19 and a 1 year high of $10.00. The stock has a market cap of $1.57 billion, a P/E ratio of 42.36, a P/E/G ratio of 1.91 and a beta of 1.34.

DiamondRock Hospitality (NYSE:DRH - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The real estate investment trust reported $0.19 EPS for the quarter, beating the consensus estimate of $0.17 by $0.02. The company had revenue of $254.85 million for the quarter, compared to analyst estimates of $256.47 million. DiamondRock Hospitality had a net margin of 4.57% and a return on equity of 3.18%. The firm's revenue was up .5% on a year-over-year basis. During the same quarter last year, the business earned $0.17 earnings per share. On average, analysts forecast that DiamondRock Hospitality will post 0.96 earnings per share for the current fiscal year.

DiamondRock Hospitality Cuts Dividend

The firm also recently declared a dividend, which will be paid on Friday, July 11th. Investors of record on Tuesday, July 1st will be paid a dividend of $0.08 per share. This represents a yield of 4.2%. The ex-dividend date is Monday, June 30th. DiamondRock Hospitality's dividend payout ratio is currently 177.78%.

Institutional Trading of DiamondRock Hospitality

Large investors have recently bought and sold shares of the business. Versant Capital Management Inc lifted its stake in shares of DiamondRock Hospitality by 156.3% in the 1st quarter. Versant Capital Management Inc now owns 3,699 shares of the real estate investment trust's stock worth $29,000 after acquiring an additional 2,256 shares during the period. GF Fund Management CO. LTD. purchased a new position in DiamondRock Hospitality during the 4th quarter valued at about $34,000. State of Wyoming purchased a new position in DiamondRock Hospitality during the 4th quarter valued at about $54,000. FIL Ltd purchased a new stake in shares of DiamondRock Hospitality during the fourth quarter worth about $60,000. Finally, DRW Securities LLC purchased a new stake in shares of DiamondRock Hospitality during the first quarter worth about $84,000.

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.