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 top gateway markets and destination resort locations. The Company owns 31 premium quality hotels with over 10,000 rooms. The Company has strategically positioned its hotels to be operated both under leading global brand families as well as unique boutique hotels in the lifestyle segment.
DiamondRock Hospitality Stock Performance
DiamondRock Hospitality stock traded up $0.19 during mid-day trading on Thursday, reaching $9.70. The company had a trading volume of 912,572 shares, compared to its average volume of 2,090,478. The company has a quick ratio of 1.93, a current ratio of 1.93 and a debt-to-equity ratio of 0.74. DiamondRock Hospitality has a 52 week low of $7.68 and a 52 week high of $11.15. The company has a 50 day moving average of $8.92 and a 200-day moving average of $9.52. The firm has a market cap of $2.05 billion, a price-to-earnings ratio of 43.23 and a beta of 1.60.
DiamondRock Hospitality Cuts Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 12th. Stockholders of record on Friday, September 30th will be issued a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.24%. The ex-dividend date is Thursday, September 29th.
Analyst Ratings Changes
DRH has been the topic of several analyst reports. Stifel Nicolaus dropped their price target on shares of DiamondRock Hospitality from $12.00 to $11.00 and set a "buy" rating on the stock in a research note on Tuesday, July 26th. Barclays lowered their target price on shares of DiamondRock Hospitality from $11.00 to $10.00 and set an "overweight" rating on the stock in a research note on Thursday, July 7th. Deutsche Bank Aktiengesellschaft raised their target price on shares of DiamondRock Hospitality from $11.00 to $12.00 in a research note on Wednesday, May 18th. Evercore ISI reiterated an "in-line" rating and issued a $10.00 target price on shares of DiamondRock Hospitality in a research note on Monday, July 11th. Finally, Truist Financial raised their target price on shares of DiamondRock Hospitality from $9.00 to $11.00 and gave the company a "hold" rating in a research note on Wednesday, June 1st. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $10.81.