DiamondRock Hospitality (NYSE:DRH) Receives $9.04 Average Price Target from Analysts

Shares of DiamondRock Hospitality (NYSE:DRH - Get Free Report) have earned an average recommendation of "Hold" from the seven ratings firms that are covering the stock, Marketbeat reports. Five analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $9.04.

DRH has been the subject of several research analyst reports. Morgan Stanley dropped their target price on shares of 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 reduced their price target on shares of 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. Evercore ISI cut their target price on shares of DiamondRock Hospitality from $10.00 to $9.00 and set an "in-line" rating for the company in a research note on Monday, April 28th. Bank of America raised shares of DiamondRock Hospitality from an "underperform" rating to a "buy" rating and set a $9.50 target price for the company in a research note on Wednesday, April 30th. Finally, Stifel Nicolaus boosted their price target 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 Up 3.7%

Shares of NYSE:DRH traded up $0.28 during midday trading on Friday, hitting $7.70. 2,059,886 shares of the company's stock traded hands, compared to its average volume of 2,214,458. DiamondRock Hospitality has a twelve month low of $6.19 and a twelve month high of $10.00. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.73 and a current ratio of 1.73. The company has a market cap of $1.59 billion, a PE ratio of 27.48, a P/E/G ratio of 2.06 and a beta of 1.33. The firm's fifty day moving average price is $7.39 and its two-hundred day moving average price is $8.35.

DiamondRock Hospitality (NYSE:DRH - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The real estate investment trust reported $0.19 EPS for the quarter, topping analysts' consensus estimates of $0.17 by $0.02. The firm had revenue of $254.85 million for the quarter, compared to analyst estimates of $256.47 million. DiamondRock Hospitality had a net margin of 6.30% and a return on equity of 4.25%. The firm's revenue was up .5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.17 EPS. On average, equities research analysts anticipate that DiamondRock Hospitality will post 0.96 EPS for the current fiscal year.

DiamondRock Hospitality Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Friday, March 28th were issued a dividend of $0.08 per share. This is an increase from DiamondRock Hospitality's previous quarterly dividend of $0.03. This represents a $0.32 annualized dividend and a dividend yield of 4.16%. The ex-dividend date was Friday, March 28th. DiamondRock Hospitality's dividend payout ratio is currently 177.78%.

Institutional Trading of DiamondRock Hospitality

Several large investors have recently modified their holdings of the company. Versant Capital Management Inc boosted its holdings in 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 valued at $29,000 after purchasing an additional 2,256 shares during the period. GF Fund Management CO. LTD. acquired a new stake in shares of DiamondRock Hospitality during the 4th quarter worth about $34,000. State of Wyoming acquired a new stake in shares of DiamondRock Hospitality during the 4th quarter worth about $54,000. FIL Ltd acquired a new stake in shares of DiamondRock Hospitality during the 4th quarter worth about $60,000. Finally, DRW Securities LLC acquired a new stake in DiamondRock Hospitality in the 1st quarter valued at 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.