Brokerages Set DiamondRock Hospitality Company (NYSE:DRH) Price Target at $8.71

Shares of DiamondRock Hospitality Company (NYSE:DRH - Get Free Report) have received a consensus recommendation of "Hold" from the seven research firms that are currently covering the firm, Marketbeat Ratings reports. Five research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $8.71.

DRH has been the topic of a number of analyst reports. Wells Fargo & Company raised DiamondRock Hospitality from a "strong sell" rating to a "hold" rating and increased their price target for the company from $7.75 to $8.25 in a research report on Tuesday, July 1st. 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 report on Friday, May 30th. Bank of America upgraded shares of DiamondRock Hospitality from an "underperform" rating to a "buy" rating and set a $9.50 price target for the company in a research note on Wednesday, April 30th. Evercore ISI lowered their price target on shares of DiamondRock Hospitality from $10.00 to $9.00 and set an "in-line" rating for the company in a report on Monday, April 28th. Finally, Stifel Nicolaus raised their price objective on shares of DiamondRock Hospitality from $8.00 to $8.25 and gave the company a "hold" rating in a report on Friday, May 2nd.

DiamondRock Hospitality Stock Down 0.3%

DRH traded down $0.03 during trading hours on Friday, hitting $7.98. 2,241,884 shares of the company's stock were exchanged, compared to its average volume of 2,613,052. The firm has a market cap of $1.65 billion, a P/E ratio of 44.31, a price-to-earnings-growth ratio of 2.04 and a beta of 1.33. DiamondRock Hospitality has a 12-month low of $6.18 and a 12-month high of $10.00. 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 firm has a 50 day moving average of $7.73 and a 200 day moving average of $7.96.

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

DiamondRock Hospitality Cuts Dividend

The business also recently disclosed a dividend, which was paid on Friday, July 11th. Shareholders of record on Tuesday, July 1st were paid a $0.08 dividend. The ex-dividend date of this dividend was Monday, June 30th. This represents a yield of 4.2%. DiamondRock Hospitality's dividend payout ratio is presently 177.78%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Nissay Asset Management Corp Japan ADV increased its position in DiamondRock Hospitality by 4.0% in the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 31,738 shares of the real estate investment trust's stock valued at $292,000 after acquiring an additional 1,216 shares during the period. Xponance Inc. boosted its position in shares of DiamondRock Hospitality by 9.9% during the 4th quarter. Xponance Inc. now owns 15,098 shares of the real estate investment trust's stock worth $136,000 after purchasing an additional 1,360 shares in the last quarter. Ancora Advisors LLC grew its position in DiamondRock Hospitality by 0.9% during the fourth quarter. Ancora Advisors LLC now owns 164,150 shares of the real estate investment trust's stock worth $1,482,000 after buying an additional 1,490 shares during the period. Public Employees Retirement System of Ohio grew its holdings in shares of DiamondRock Hospitality by 0.5% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 298,326 shares of the real estate investment trust's stock worth $2,285,000 after acquiring an additional 1,578 shares during the period. Finally, Illinois Municipal Retirement Fund grew its holdings in DiamondRock Hospitality by 1.8% in the first quarter. Illinois Municipal Retirement Fund now owns 107,860 shares of the real estate investment trust's stock valued at $833,000 after purchasing an additional 1,873 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.