DiamondRock Hospitality Co. (DRH) Shares Up 2.7%
DiamondRock Hospitality Co. (NYSE:DRH) shares shot up 2.7% on Monday . The stock traded as high as $9.63 and last traded at $9.63, with a volume of 932,554 shares. The stock had previously closed at $9.38.
Several research firms recently weighed in on DRH. Deutsche Bank AG reissued a “hold” rating and set a $11.00 price objective on shares of DiamondRock Hospitality in a research note on Sunday, June 26th. Janney Montgomery Scott began coverage on shares of DiamondRock Hospitality in a research note on Monday, May 23rd. They set a “neutral” rating and a $9.50 price objective on the stock. Zacks Investment Research raised shares of DiamondRock Hospitality from a “sell” rating to a “hold” rating in a research note on Tuesday, May 10th. Canaccord Genuity reissued a “buy” rating and set a $12.00 price objective on shares of DiamondRock Hospitality in a research note on Friday, May 6th. Finally, Stifel Nicolaus began coverage on shares of DiamondRock Hospitality in a research note on Tuesday, March 29th. They set a “hold” rating on the stock. Nine research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $11.27.
The firm has a 50-day moving average price of $9.22 and a 200 day moving average price of $9.09. The stock has a market cap of $1.95 billion and a price-to-earnings ratio of 21.29.
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 in the prior year, the company posted $0.19 EPS. The firm had revenue of $213.03 million for the quarter, compared to analyst estimates of $219.15 million. The business’s revenue for the quarter was up 2.0% compared to the same quarter last year. Analysts anticipate that DiamondRock Hospitality Co. will post $1.05 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 12th. Stockholders of record on Thursday, June 30th were given a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 5.14%. The ex-dividend date of this dividend was Tuesday, June 28th.
Several hedge funds recently made changes to their positions in the company. ProShare Advisors LLC increased its stake in shares of 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 valued at $1,030,000 after buying an additional 19,018 shares during the period. State of Tennessee Treasury Department bought a new stake in shares of DiamondRock Hospitality during the fourth quarter valued at approximately $1,499,000. Sei Investments Co. increased its stake in shares of 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 valued at $2,188,000 after buying an additional 146,655 shares during the period. New York State Common Retirement Fund increased its stake in shares of 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 valued at $2,229,000 after buying an additional 3,400 shares during the period. Finally, Rhumbline Advisers increased its stake in shares of DiamondRock Hospitality by 2.6% in the fourth quarter. Rhumbline Advisers now owns 354,942 shares of the real estate investment trust’s stock valued at $3,425,000 after buying an additional 8,890 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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