Analysts Set DiamondRock Hospitality (NYSE:DRH) Target Price at $9.04

Shares of DiamondRock Hospitality (NYSE:DRH - Get Free Report) have been assigned a consensus rating of "Hold" from the seven research firms that are presently covering the stock, MarketBeat.com reports. Five analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $9.04.

Several analysts have recently weighed in on DRH shares. Evercore ISI decreased their target price on DiamondRock Hospitality from $10.00 to $9.00 and set an "in-line" rating for the company in a research report on Monday, April 28th. Morgan Stanley cut their price target on shares of DiamondRock Hospitality from $9.00 to $7.00 and set an "equal weight" rating for the company in a report on Tuesday, April 22nd. Stifel Nicolaus boosted their price objective on DiamondRock Hospitality from $8.00 to $8.25 and gave the stock a "hold" rating in a research report on Friday, May 2nd. Wells Fargo & Company reduced their target price on shares of DiamondRock Hospitality from $10.50 to $9.50 and set an "equal weight" rating for the company in a report on Tuesday, February 18th. Finally, Bank of America raised shares of DiamondRock Hospitality from an "underperform" rating to a "buy" rating and set a $9.50 price objective for the company in a research note on Wednesday, April 30th.

Hedge Funds Weigh In On DiamondRock Hospitality

Institutional investors and hedge funds have recently made changes to their positions in the company. Versant Capital Management Inc lifted its position 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 acquiring an additional 2,256 shares in the last quarter. GF Fund Management CO. LTD. purchased a new position in shares of DiamondRock Hospitality during the fourth quarter valued at approximately $34,000. State of Wyoming purchased a new stake in shares of DiamondRock Hospitality during the 4th quarter valued at about $54,000. FIL Ltd purchased a new position in DiamondRock Hospitality during the fourth quarter valued at $60,000. Finally, Smartleaf Asset Management LLC lifted its holdings in DiamondRock Hospitality by 278.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 9,769 shares of the real estate investment trust's stock worth $89,000 after purchasing an additional 7,189 shares in the last quarter.

DiamondRock Hospitality Price Performance

Shares of DRH traded down $0.06 during midday trading on Friday, hitting $7.64. 710,412 shares of the company traded hands, compared to its average volume of 2,208,579. The stock has a 50-day moving average of $7.39 and a 200-day moving average of $8.35. The firm has a market cap of $1.58 billion, a P/E ratio of 27.23, a PEG ratio of 2.06 and a beta of 1.33. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.73 and a quick ratio of 1.73. DiamondRock Hospitality has a one year low of $6.19 and a one year high of $10.00.

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

DiamondRock Hospitality Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Friday, March 28th were paid a $0.08 dividend. This is an increase from DiamondRock Hospitality's previous quarterly dividend of $0.03. The ex-dividend date was Friday, March 28th. This represents a $0.32 annualized dividend and a dividend yield of 4.19%. DiamondRock Hospitality's dividend payout ratio (DPR) is currently 177.78%.

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.