DiamondRock Hospitality Co. (NYSE:DRH) dropped 4.6% during mid-day trading on Wednesday . The company traded as low as $9.20 and last traded at $9.26, with a volume of 1,381,506 shares traded. The stock had previously closed at $9.71.

DRH has been the subject of a number of recent research reports. Canaccord Genuity reiterated a “buy” rating and issued a $12.00 price objective on shares of DiamondRock Hospitality in a report on Friday, May 6th. Stifel Nicolaus began coverage on shares of DiamondRock Hospitality in a research report on Tuesday, March 29th. They set a “hold” rating for the company. Janney Montgomery Scott began coverage on shares of DiamondRock Hospitality in a research report on Monday, May 23rd. They set a “neutral” rating and a $9.50 target price for the company. Credit Suisse Group AG reissued an “outperform” rating and set a $10.50 target price (up previously from $9.50) on shares of DiamondRock Hospitality in a research report on Wednesday, March 23rd. Finally, Zacks Investment Research raised shares of DiamondRock Hospitality from a “sell” rating to a “hold” rating in a research report on Tuesday, May 10th. Nine research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $11.27.

The company has a market capitalization of $1.87 billion and a price-to-earnings ratio of 20.33. The company’s 50-day moving average price is $9.17 and its 200 day moving average price is $9.09.

DiamondRock Hospitality (NYSE:DRH) last released its earnings results on Friday, May 6th. The real estate investment trust reported $0.21 earnings per share for the quarter, beating analysts’ consensus estimates of $0.19 by $0.02. During the same period last year, the business posted $0.19 EPS. The business earned $213.03 million during the quarter, compared to the consensus estimate of $219.15 million. The firm’s revenue for the quarter was up 2.0% on a year-over-year basis. On average, equities research analysts forecast that DiamondRock Hospitality Co. will post $1.07 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 12th. Investors of record on Thursday, June 30th were given a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 5.38%. The ex-dividend date of this dividend was Tuesday, June 28th.

A number of hedge funds and institutional investors have added to or reduced their stakes in the stock. Matarin Capital Management LLC acquired a new position in DiamondRock Hospitality during the fourth quarter worth $3,538,000. Marshall Wace LLP increased its position in shares of DiamondRock Hospitality by 1,542.1% in the fourth quarter. Marshall Wace LLP now owns 741,565 shares of the real estate investment trust’s stock worth $7,156,000 after buying an additional 696,406 shares during the period. Victory Capital Management Inc. increased its position in shares of DiamondRock Hospitality by 4.5% in the fourth quarter. Victory Capital Management Inc. now owns 2,696,961 shares of the real estate investment trust’s stock worth $26,026,000 after buying an additional 115,317 shares during the period. Principal Financial Group Inc. increased its position in shares of DiamondRock Hospitality by 4.4% in the fourth quarter. Principal Financial Group Inc. now owns 1,362,785 shares of the real estate investment trust’s stock worth $13,151,000 after buying an additional 57,648 shares during the period. Finally, Morgan Stanley increased its position in shares of DiamondRock Hospitality by 28.6% in the fourth quarter. Morgan Stanley now owns 1,030,387 shares of the real estate investment trust’s stock worth $9,944,000 after buying an additional 228,909 shares during the period.

DiamondRock Hospitality Company is a lodging-focused Maryland corporation operating as a real estate investment trust (REIT). The Company owns a portfolio of approximately 30 hotels and resorts throughout North America and the United States Virgin Islands that consists of over 10,925 guest rooms. Its primary business is to acquire, own, asset manage and renovate full-service hotel properties in the United States.

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