Brokerages Set DiamondRock Hospitality (NYSE:DRH) PT at $9.75

Posted by Defense World Staff on Sep 18th, 2023

DiamondRock Hospitality (NYSE:DRH – Get Free Report) has been assigned an average rating of “Hold” from the five research firms that are covering the company, MarketBeat.com reports. Three investment analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $9.75.

A number of analysts have recently commented on DRH shares. Wells Fargo & Company lifted their target price on DiamondRock Hospitality from $9.00 to $10.00 in a research report on Wednesday, July 12th. StockNews.com cut DiamondRock Hospitality from a “hold” rating to a “sell” rating in a research report on Saturday. Truist Financial cut their target price on DiamondRock Hospitality from $11.00 to $10.00 and set a “hold” rating on the stock in a research report on Friday. Finally, Morgan Stanley cut their target price on DiamondRock Hospitality from $9.00 to $8.50 and set an “equal weight” rating on the stock in a research report on Friday, August 25th.

Check Out Our Latest Stock Report on DiamondRock Hospitality

Hedge Funds Weigh In On DiamondRock Hospitality

Institutional investors have recently added to or reduced their stakes in the stock. Harbor Investment Advisory LLC increased its position in DiamondRock Hospitality by 33.5% in the 2nd quarter. Harbor Investment Advisory LLC now owns 6,449 shares of the real estate investment trust’s stock valued at $52,000 after acquiring an additional 1,620 shares during the period. Clear Street Markets LLC acquired a new position in DiamondRock Hospitality in the 4th quarter valued at about $54,000. BOKF NA acquired a new position in DiamondRock Hospitality in the 2nd quarter valued at about $56,000. Tower Research Capital LLC TRC increased its position in DiamondRock Hospitality by 711.7% during the 1st quarter. Tower Research Capital LLC TRC now owns 7,119 shares of the real estate investment trust’s stock worth $58,000 after purchasing an additional 6,242 shares during the period. Finally, Advisor Partners II LLC acquired a new position in DiamondRock Hospitality during the 1st quarter worth approximately $83,000.

DiamondRock Hospitality Stock Up 1.6 %

DiamondRock Hospitality stock opened at $8.25 on Friday. DiamondRock Hospitality has a 1-year low of $7.14 and a 1-year high of $10.02. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.88 and a quick ratio of 1.88. The stock has a market cap of $1.73 billion, a PE ratio of 21.15 and a beta of 1.65. The stock’s fifty day moving average is $8.05 and its two-hundred day moving average is $8.07.

DiamondRock Hospitality Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 12th. Investors of record on Friday, September 29th will be given a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 1.45%. The ex-dividend date of this dividend is Thursday, September 28th. DiamondRock Hospitality’s dividend payout ratio (DPR) is presently 30.77%.

DiamondRock Hospitality Company Profile

(Get Free Report

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.