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

Several research firms have issued reports on DRH. Deutsche Bank AG reiterated a “hold” rating and issued a $11.00 target price on shares of DiamondRock Hospitality in a research note on Sunday, June 26th. Credit Suisse Group AG reiterated an “outperform” rating and issued a $10.50 target price (up from $9.50) on shares of DiamondRock Hospitality in a research note on Wednesday, March 23rd. Janney Montgomery Scott began coverage on shares of DiamondRock Hospitality in a research note on Monday, May 23rd. They issued a “neutral” rating and a $9.50 target price on the stock. Stifel Nicolaus began coverage on shares of DiamondRock Hospitality in a research note on Tuesday, March 29th. They issued a “hold” rating on the stock. Finally, Canaccord Genuity reiterated a “buy” rating and issued a $12.00 target price on shares of DiamondRock Hospitality in a research note on Friday, May 6th. Nine analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $11.27.

The company’s 50-day moving average is $9.20 and its 200-day moving average is $9.09. The firm has a market cap of $1.86 billion and a P/E ratio of 20.317.

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

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 12th. Shareholders of record on Thursday, June 30th were given a $0.125 dividend. The ex-dividend date of this dividend was Tuesday, June 28th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 5.39%.

Other institutional investors have recently bought and sold shares of the company. ProShare Advisors LLC raised its position in DiamondRock Hospitality by 21.7% in the fourth quarter. ProShare Advisors LLC now owns 106,733 shares of the real estate investment trust’s stock worth $1,030,000 after buying an additional 19,018 shares during the last quarter. Sei Investments Co. raised its position in DiamondRock Hospitality by 183.0% in the fourth quarter. Sei Investments Co. now owns 226,781 shares of the real estate investment trust’s stock worth $2,188,000 after buying an additional 146,655 shares during the last quarter. New York State Common Retirement Fund raised its position in DiamondRock Hospitality by 1.5% in the fourth quarter. New York State Common Retirement Fund now owns 231,012 shares of the real estate investment trust’s stock worth $2,229,000 after buying an additional 3,400 shares during the last quarter. Rhumbline Advisers raised its position in DiamondRock Hospitality by 2.6% in the fourth quarter. Rhumbline Advisers now owns 354,942 shares of the real estate investment trust’s stock worth $3,425,000 after buying an additional 8,890 shares during the last quarter. Finally, Matarin Capital Management LLC purchased a new position in DiamondRock Hospitality during the fourth quarter worth $3,538,000.

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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