DiamondRock Hospitality (NYSE:DRH) Stock Price Expected to Rise, Stifel Nicolaus Analyst Says

DiamondRock Hospitality (NYSE:DRH - Free Report) had its price objective lifted by Stifel Nicolaus from $8.00 to $8.25 in a report issued on Friday,Benzinga reports. The firm currently has a hold rating on the real estate investment trust's stock.

Other research analysts have also issued reports about the company. Evercore ISI cut their price target on DiamondRock Hospitality from $10.00 to $9.00 and set an "in-line" rating for the company in a report on Monday, April 28th. Morgan Stanley cut their price objective on DiamondRock Hospitality from $9.00 to $7.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 22nd. Wells Fargo & Company lowered their target price on DiamondRock Hospitality from $10.50 to $9.50 and set an "equal weight" rating for the company in a research note on Tuesday, February 18th. Finally, Bank of America upgraded 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 report on Wednesday, April 30th. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $9.04.

DiamondRock Hospitality Stock Down 0.1 %

Shares of DRH traded down $0.01 during trading hours on Friday, reaching $7.42. The company's stock had a trading volume of 1,507,286 shares, compared to its average volume of 2,192,006. The company has a 50 day moving average of $7.52 and a two-hundred day moving average of $8.47. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.66. The firm has a market cap of $1.55 billion, a price-to-earnings ratio of 26.45, a P/E/G ratio of 2.06 and a beta of 1.33. DiamondRock Hospitality has a 1-year low of $6.19 and a 1-year high of $10.00.

DiamondRock Hospitality (NYSE:DRH - Get Free Report) last posted its quarterly earnings results 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. DiamondRock Hospitality had a net margin of 6.30% and a return on equity of 4.25%. The business had revenue of $254.85 million for the quarter, compared to the consensus estimate of $256.47 million. During the same period in the prior year, the business posted $0.17 earnings per share. DiamondRock Hospitality's revenue for the quarter was up .5% compared to the same quarter last year. As a group, research analysts predict that DiamondRock Hospitality will post 0.96 EPS for the current fiscal year.

DiamondRock Hospitality Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Friday, March 28th were paid a dividend of $0.08 per share. The ex-dividend date of this dividend was Friday, March 28th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 4.32%. This is a boost from DiamondRock Hospitality's previous quarterly dividend of $0.03. DiamondRock Hospitality's dividend payout ratio is currently 177.78%.

Institutional Trading of DiamondRock Hospitality

Institutional investors and hedge funds have recently bought and sold shares of the business. JPMorgan Chase & Co. raised its position in shares of DiamondRock Hospitality by 18.7% in the fourth quarter. JPMorgan Chase & Co. now owns 5,716,469 shares of the real estate investment trust's stock valued at $51,620,000 after buying an additional 901,600 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in DiamondRock Hospitality by 45.2% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 138,327 shares of the real estate investment trust's stock valued at $1,249,000 after buying an additional 43,088 shares in the last quarter. Norges Bank acquired a new stake in shares of DiamondRock Hospitality during the fourth quarter valued at about $5,839,000. Cbre Investment Management Listed Real Assets LLC acquired a new position in DiamondRock Hospitality in the 4th quarter valued at approximately $14,889,000. Finally, Barclays PLC raised its position in DiamondRock Hospitality by 37.6% during the 3rd quarter. Barclays PLC now owns 368,616 shares of the real estate investment trust's stock worth $3,219,000 after purchasing an additional 100,805 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.