DiamondRock Hospitality (NYSE:DRH) Reaches New 1-Year Low – Time to Sell?

DiamondRock Hospitality (NYSE:DRH)’s stock price reached a new 52-week low during mid-day trading on Thursday . The company traded as low as $7.12 and last traded at $7.34, with a volume of 546 shares trading hands. The stock had previously closed at $7.88.

Wall Street Analysts Forecast Growth

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

DiamondRock Hospitality Price Performance

The company has a fifty day moving average price of $8.31 and a two-hundred day moving average price of $8.80. The firm has a market capitalization of $1.49 billion, a PE ratio of 25.63, a P/E/G ratio of 2.06 and a beta of 1.63. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.66.

DiamondRock Hospitality Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be paid a $0.08 dividend. The ex-dividend date is Friday, March 28th. This is a positive change from DiamondRock Hospitality’s previous quarterly dividend of $0.03. This represents a $0.32 dividend on an annualized basis and a yield of 4.47%. DiamondRock Hospitality’s payout ratio is currently 188.24%.

Institutional Trading of DiamondRock Hospitality

Several hedge funds have recently made changes to their positions in DRH. BNP Paribas Financial Markets lifted its position in DiamondRock Hospitality by 46.0% in the third quarter. BNP Paribas Financial Markets now owns 65,575 shares of the real estate investment trust’s stock valued at $572,000 after purchasing an additional 20,660 shares during the period. Glenmede Trust Co. NA boosted its stake in shares of DiamondRock Hospitality by 100.0% during the 3rd quarter. Glenmede Trust Co. NA now owns 67,677 shares of the real estate investment trust’s stock worth $591,000 after acquiring an additional 33,835 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of DiamondRock Hospitality by 326.6% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,235,728 shares of the real estate investment trust’s stock worth $10,788,000 after acquiring an additional 946,073 shares during the period. Verition Fund Management LLC increased its stake in DiamondRock Hospitality by 108.6% in the 3rd quarter. Verition Fund Management LLC now owns 215,986 shares of the real estate investment trust’s stock valued at $1,886,000 after purchasing an additional 112,463 shares in the last quarter. Finally, Holocene Advisors LP acquired a new position in DiamondRock Hospitality during the third quarter worth $568,000.

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.