DiamondRock Hospitality Co. (NYSE:DRH) shares traded down 2.4% during mid-day trading on Tuesday . The stock traded as low as $9.73 and last traded at $9.80, with a volume of 1,120,997 shares traded. The stock had previously closed at $10.04.

Several research analysts have issued reports on the stock. Deutsche Bank AG restated a “hold” rating and set a $11.00 price target on shares of DiamondRock Hospitality in a report on Sunday, June 26th. Zacks Investment Research upgraded shares of DiamondRock Hospitality from a “sell” rating to a “hold” rating in a report on Tuesday, May 10th. Janney Montgomery Scott assumed coverage on shares of DiamondRock Hospitality in a report on Monday, May 23rd. They set a “neutral” rating and a $9.50 price target for the company. TheStreet upgraded shares of DiamondRock Hospitality from a “hold” rating to a “buy” rating in a report on Tuesday, July 19th. Finally, Canaccord Genuity restated a “buy” rating and set a $12.00 price target on shares of DiamondRock Hospitality in a report on Friday, May 6th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $11.27.

The firm has a market capitalization of $1.96 billion and a price-to-earnings ratio of 21.38. The stock’s 50 day moving average is $9.37 and its 200-day moving average is $9.10.

DiamondRock Hospitality (NYSE:DRH) last released its earnings results on Friday, May 6th. The real estate investment trust reported $0.21 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.19 by $0.02. During the same quarter last year, the business posted $0.19 earnings per share. The company earned $213.03 million during the quarter, compared to analysts’ expectations of $219.15 million. The company’s revenue for the quarter was up 2.0% on a year-over-year basis. On average, analysts forecast that DiamondRock Hospitality Co. will post $1.04 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 12th. Investors of record on Thursday, June 30th were issued 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 yield of 5.12%.

A number of hedge funds and institutional investors recently added to or reduced their stakes in DRH. State of Tennessee Treasury Department bought a new position in DiamondRock Hospitality during the fourth quarter worth about $1,499,000. Matarin Capital Management LLC bought a new position in DiamondRock Hospitality during the fourth quarter worth about $3,538,000. Marshall Wace LLP raised its position in 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. raised its position in 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. Finally, Principal Financial Group Inc. raised its position in 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.

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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