DiamondRock Hospitality (NYSE:DRH) Cut to Inline at Evercore ISI

Evercore ISI downgraded shares of DiamondRock Hospitality (NYSE:DRH) from an outperform rating to an inline rating in a report published on Friday, Marketbeat.com reports. Evercore ISI currently has $10.50 price target on the real estate investment trust’s stock.

Other equities research analysts have also issued reports about the stock. Truist Financial reduced their price objective on shares of DiamondRock Hospitality from $11.00 to $10.00 and set a “hold” rating on the stock in a report on Wednesday, September 4th. Compass Point upgraded shares of DiamondRock Hospitality from a “neutral” rating to a “buy” rating and set a $10.00 price target on the stock in a research note on Monday, August 5th. Wells Fargo & Company cut their price target on shares of DiamondRock Hospitality from $9.50 to $9.00 and set an “equal weight” rating on the stock in a research note on Friday, September 13th. Finally, StockNews.com upgraded shares of DiamondRock Hospitality from a “sell” rating to a “hold” rating in a research note on Tuesday, November 12th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $10.17.

DiamondRock Hospitality Price Performance

Shares of DRH opened at $8.86 on Friday. DiamondRock Hospitality has a twelve month low of $7.74 and a twelve month high of $9.99. The firm’s fifty day simple moving average is $8.85 and its 200-day simple moving average is $8.54. The firm has a market capitalization of $1.84 billion, a price-to-earnings ratio of 31.64, a PEG ratio of 5.16 and a beta of 1.60. The company has a current ratio of 1.73, a quick ratio of 2.03 and a debt-to-equity ratio of 0.66.

DiamondRock Hospitality Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Monday, September 30th were paid a $0.03 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.12 dividend on an annualized basis and a yield of 1.35%. DiamondRock Hospitality’s dividend payout ratio is presently 42.86%.

Institutional Trading of DiamondRock Hospitality

Several hedge funds and other institutional investors have recently made changes to their positions in DRH. Allspring Global Investments Holdings LLC boosted its holdings in shares of DiamondRock Hospitality by 9.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 46,240 shares of the real estate investment trust’s stock valued at $444,000 after acquiring an additional 3,897 shares in the last quarter. BNP Paribas Financial Markets boosted its holdings in shares of DiamondRock Hospitality by 13.1% in the first quarter. BNP Paribas Financial Markets now owns 105,115 shares of the real estate investment trust’s stock valued at $1,010,000 after acquiring an additional 12,194 shares in the last quarter. Sei Investments Co. boosted its holdings in shares of DiamondRock Hospitality by 14.5% in the first quarter. Sei Investments Co. now owns 305,919 shares of the real estate investment trust’s stock valued at $2,940,000 after acquiring an additional 38,745 shares in the last quarter. Russell Investments Group Ltd. boosted its holdings in shares of DiamondRock Hospitality by 19.9% in the first quarter. Russell Investments Group Ltd. now owns 562,844 shares of the real estate investment trust’s stock valued at $5,409,000 after acquiring an additional 93,381 shares in the last quarter. Finally, ProShare Advisors LLC boosted its holdings in shares of DiamondRock Hospitality by 7.4% in the first quarter. ProShare Advisors LLC now owns 42,394 shares of the real estate investment trust’s stock valued at $407,000 after acquiring an additional 2,916 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.