DiamondRock Hospitality (DRH) To Go Ex-Dividend on December 28th

DiamondRock Hospitality (NYSE:DRH) declared a quarterly dividend on Thursday, December 14th, Wall Street Journal reports. Shareholders of record on Friday, December 29th will be paid a dividend of 0.125 per share by the real estate investment trust on Friday, January 12th. This represents a $0.50 annualized dividend and a yield of 4.40%. The ex-dividend date of this dividend is Thursday, December 28th.

DiamondRock Hospitality has raised its dividend payment by an average of 14.3% annually over the last three years. DiamondRock Hospitality has a dividend payout ratio of 51.5% meaning its dividend is sufficiently covered by earnings. Analysts expect DiamondRock Hospitality to earn $0.99 per share next year, which means the company should continue to be able to cover its $0.50 annual dividend with an expected future payout ratio of 50.5%.

Shares of DiamondRock Hospitality (DRH) traded down $0.01 during trading on Wednesday, reaching $11.36. 1,486,800 shares of the company’s stock traded hands, compared to its average volume of 2,243,530. DiamondRock Hospitality has a 52 week low of $10.43 and a 52 week high of $12.07. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.41 and a quick ratio of 2.41. The stock has a market cap of $2,280.00, a P/E ratio of 25.24, a P/E/G ratio of 2.35 and a beta of 1.33.

DiamondRock Hospitality (NYSE:DRH) last issued its quarterly earnings data on Monday, November 6th. The real estate investment trust reported $0.25 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.25. DiamondRock Hospitality had a net margin of 9.68% and a return on equity of 4.73%. The company had revenue of $223.50 million for the quarter, compared to the consensus estimate of $223.30 million. During the same period last year, the firm posted $0.26 EPS. DiamondRock Hospitality’s revenue for the quarter was up 1.5% on a year-over-year basis. sell-side analysts anticipate that DiamondRock Hospitality will post 0.97 earnings per share for the current year.

Several research analysts have issued reports on the stock. Boenning Scattergood reissued a “sell” rating and set a $10.00 price objective on shares of DiamondRock Hospitality in a research report on Wednesday, November 8th. Robert W. Baird reissued a “buy” rating and set a $12.00 price objective on shares of DiamondRock Hospitality in a research report on Friday, November 10th. TheStreet downgraded shares of DiamondRock Hospitality from a “b” rating to a “c+” rating in a research report on Monday, November 6th. Evercore ISI raised shares of DiamondRock Hospitality from an “in-line” rating to an “outperform” rating in a report on Monday, December 4th. Finally, Zacks Investment Research downgraded shares of DiamondRock Hospitality from a “hold” rating to a “sell” rating in a report on Tuesday, November 14th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the company. DiamondRock Hospitality has a consensus rating of “Buy” and an average price target of $12.00.

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DiamondRock Hospitality Company Profile

DiamondRock Hospitality Company is a real estate investment trust (REIT). As of December 31, 2016, the Company owned a portfolio of 26 hotels and resorts that contains 9,472 guest rooms located in 17 different markets in North America and the United States Virgin Islands. Its business is to acquire, own, asset manage and renovate hotel properties in the United States.

Dividend History for DiamondRock Hospitality (NYSE:DRH)

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