DiamondRock Hospitality (NYSE:DRH) Upgraded at StockNews.com

StockNews.com upgraded shares of DiamondRock Hospitality (NYSE:DRH) from a sell rating to a hold rating in a research report report published on Tuesday.

Several other research firms have also recently commented on DRH. Truist Financial lowered their price target on shares of DiamondRock Hospitality from $11.00 to $10.00 and set a “hold” rating for the company in a report on Wednesday, September 4th. Wells Fargo & Company lowered their target price on shares of DiamondRock Hospitality from $9.50 to $9.00 and set an “equal weight” rating on the stock in a research report on Friday, September 13th. Finally, Compass Point upgraded DiamondRock Hospitality from a “neutral” rating to a “buy” rating and set a $10.00 price target on the stock in a research report on Monday, August 5th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $10.17.

DiamondRock Hospitality Trading Up 0.4 %

NYSE DRH opened at $9.08 on Tuesday. DiamondRock Hospitality has a one year low of $7.74 and a one year high of $9.99. The firm has a 50 day simple moving average of $8.83 and a 200-day simple moving average of $8.54. The company has a debt-to-equity ratio of 0.66, a quick ratio of 2.03 and a current ratio of 1.73. The firm has a market cap of $1.88 billion, a price-to-earnings ratio of 32.30, a PEG ratio of 5.38 and a beta of 1.60.

DiamondRock Hospitality Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Monday, September 30th were paid a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 1.32%. The ex-dividend date of this dividend was Monday, September 30th. DiamondRock Hospitality’s dividend payout ratio (DPR) is 42.86%.

Institutional Trading of DiamondRock Hospitality

Institutional investors have recently bought and sold shares of the company. Pzena Investment Management LLC lifted its holdings in shares of DiamondRock Hospitality by 3.6% in the third quarter. Pzena Investment Management LLC now owns 9,153,018 shares of the real estate investment trust’s stock valued at $79,906,000 after purchasing an additional 317,901 shares in the last quarter. Centersquare Investment Management LLC raised its position in shares of DiamondRock Hospitality by 40.3% in the first quarter. Centersquare Investment Management LLC now owns 6,303,698 shares of the real estate investment trust’s stock valued at $56,103,000 after buying an additional 1,810,788 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of DiamondRock Hospitality by 2.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 4,475,664 shares of the real estate investment trust’s stock valued at $39,073,000 after buying an additional 103,209 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in DiamondRock Hospitality by 4.0% during the second quarter. Dimensional Fund Advisors LP now owns 3,102,363 shares of the real estate investment trust’s stock worth $26,214,000 after acquiring an additional 120,228 shares during the last quarter. Finally, Victory Capital Management Inc. grew its stake in DiamondRock Hospitality by 0.9% in the 3rd quarter. Victory Capital Management Inc. now owns 2,642,787 shares of the real estate investment trust’s stock worth $23,072,000 after acquiring an additional 24,249 shares during the period.

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.