DiamondRock Hospitality (NYSE:DRH) to Issue $0.03 Quarterly Dividend

DiamondRock Hospitality (NYSE:DRHGet Free Report) declared a quarterly dividend on Monday, June 3rd, Zacks reports. Stockholders of record on Friday, June 28th will be given a dividend of 0.03 per share by the real estate investment trust on Friday, July 12th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.44%. The ex-dividend date is Friday, June 28th.

DiamondRock Hospitality has a dividend payout ratio of 26.1% meaning its dividend is sufficiently covered by earnings. Research analysts expect DiamondRock Hospitality to earn $1.02 per share next year, which means the company should continue to be able to cover its $0.12 annual dividend with an expected future payout ratio of 11.8%.

DiamondRock Hospitality Stock Performance

Shares of NYSE:DRH traded down $0.09 during trading on Wednesday, reaching $8.36. The company had a trading volume of 276,322 shares, compared to its average volume of 1,866,450. The firm has a market capitalization of $1.76 billion, a price-to-earnings ratio of 23.47, a price-to-earnings-growth ratio of 6.30 and a beta of 1.59. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.04 and a quick ratio of 2.04. The stock’s fifty day moving average price is $8.89 and its 200 day moving average price is $9.08. DiamondRock Hospitality has a fifty-two week low of $7.33 and a fifty-two week high of $9.99.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on DRH shares. StockNews.com raised DiamondRock Hospitality from a “sell” rating to a “hold” rating in a report on Friday, May 3rd. Stifel Nicolaus upped their price objective on DiamondRock Hospitality from $10.00 to $10.50 and gave the stock a “buy” rating in a report on Friday, February 23rd. Finally, Truist Financial upped their price objective on DiamondRock Hospitality from $10.00 to $11.00 and gave the stock a “hold” rating in a report on Thursday, March 14th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $10.30.

Read Our Latest Stock Report on DiamondRock Hospitality

About DiamondRock Hospitality

(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.

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Dividend History for DiamondRock Hospitality (NYSE:DRH)

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