DiamondRock Hospitality (NYSE:DRH) Price Target Cut to $10.00

DiamondRock Hospitality (NYSE:DRH) had its target price decreased by Truist Financial from $11.00 to $10.00 in a research report released on Friday, Marketbeat.com reports. Truist Financial currently has a hold rating on the real estate investment trust’s stock.

A number of other equities research analysts also recently commented on DRH. 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 shares of DiamondRock Hospitality from a hold rating to a sell rating in a research report on Thursday, September 7th. Finally, Morgan Stanley dropped their price target on shares of DiamondRock Hospitality from $9.00 to $8.50 and set an equal weight rating for the company in a research report on Friday, August 25th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of Hold and an average price target of $9.75.

DiamondRock Hospitality Stock Down 1.8 %

Shares of NYSE DRH opened at $8.10 on Friday. DiamondRock Hospitality has a 1 year low of $7.14 and a 1 year high of $10.02. The company has a market capitalization of $1.70 billion, a P/E ratio of 20.77 and a beta of 1.65. The company has a 50 day simple moving average of $8.04 and a 200-day simple moving average of $8.07. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.88 and a quick ratio of 1.88.

DiamondRock Hospitality Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 12th. Investors of record on Friday, September 29th will be issued a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.48%. The ex-dividend date is Thursday, September 28th. DiamondRock Hospitality’s dividend payout ratio (DPR) is currently 30.77%.

Institutional Investors Weigh In On DiamondRock Hospitality

A number of hedge funds have recently added to or reduced their stakes in the business. Clear Street Markets LLC purchased a new position in DiamondRock Hospitality in the fourth quarter valued at $54,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its stake in shares of DiamondRock Hospitality by 10.9% during the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 121,733 shares of the real estate investment trust’s stock worth $990,000 after buying an additional 11,936 shares during the period. Credit Suisse AG raised its holdings in DiamondRock Hospitality by 1.2% in the first quarter. Credit Suisse AG now owns 284,723 shares of the real estate investment trust’s stock valued at $2,315,000 after acquiring an additional 3,349 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in DiamondRock Hospitality by 16.6% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 224,078 shares of the real estate investment trust’s stock worth $1,835,000 after acquiring an additional 31,901 shares during the last quarter. Finally, Cornercap Investment Counsel Inc. grew its holdings in DiamondRock Hospitality by 4.2% during the 4th quarter. Cornercap Investment Counsel Inc. now owns 102,446 shares of the real estate investment trust’s stock worth $839,000 after acquiring an additional 4,105 shares in the last quarter.

DiamondRock Hospitality Company Profile

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.