DiamondRock Hospitality (NYSE:DRH) Reaches New 12-Month Low – What’s Next?

DiamondRock Hospitality (NYSE:DRH) shares hit a new 52-week low during mid-day trading on Friday . The company traded as low as $7.58 and last traded at $7.62, with a volume of 194989 shares. The stock had previously closed at $7.71.

Analysts Set New Price Targets

Separately, Wells Fargo & Company reduced their target price on DiamondRock Hospitality from $10.50 to $9.50 and set an “equal weight” rating on the stock in a report on Tuesday, February 18th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, DiamondRock Hospitality currently has a consensus rating of “Hold” and a consensus target price of $10.05.

DiamondRock Hospitality Price Performance

The company has a market capitalization of $1.59 billion, a price-to-earnings ratio of 27.30, a P/E/G ratio of 2.06 and a beta of 1.63. The business has a 50 day moving average price of $8.38 and a 200-day moving average price of $8.81. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.73 and a current ratio of 1.73.

DiamondRock Hospitality Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be given a dividend of $0.08 per share. This is an increase from DiamondRock Hospitality’s previous quarterly dividend of $0.03. The ex-dividend date of this dividend is Friday, March 28th. This represents a $0.32 annualized dividend and a dividend yield of 4.19%. DiamondRock Hospitality’s dividend payout ratio (DPR) is 188.24%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. GF Fund Management CO. LTD. acquired a new position in shares of DiamondRock Hospitality during the fourth quarter valued at about $34,000. State of Wyoming acquired a new position in DiamondRock Hospitality during the 4th quarter worth approximately $54,000. FIL Ltd bought a new position in DiamondRock Hospitality in the fourth quarter worth approximately $60,000. Smartleaf Asset Management LLC boosted its holdings in DiamondRock Hospitality by 278.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 9,769 shares of the real estate investment trust’s stock worth $89,000 after acquiring an additional 7,189 shares in the last quarter. Finally, Caxton Associates LP bought a new stake in shares of DiamondRock Hospitality during the fourth quarter valued at approximately $92,000.

About DiamondRock Hospitality

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.