DiamondRock Hospitality Co. (DRH) Trading 5.7% Higher
DiamondRock Hospitality Co. (NYSE:DRH) shares traded up 5.7% during mid-day trading on Friday . The stock traded as high as $9.97 and last traded at $9.96, with a volume of 2,138,274 shares traded. The stock had previously closed at $9.42.
Several research analysts recently issued reports on the company. TheStreet upgraded DiamondRock Hospitality from a “hold” rating to a “buy” rating in a research report on Tuesday, July 19th. Zacks Investment Research cut shares of DiamondRock Hospitality from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 19th. Deutsche Bank AG reaffirmed a “hold” rating and issued a $11.00 target price on shares of DiamondRock Hospitality in a research note on Sunday, June 26th. Janney Montgomery Scott assumed 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 for the company. Finally, Canaccord Genuity reaffirmed a “buy” rating and issued a $12.00 target price on shares of DiamondRock Hospitality in a research note on Friday, May 6th. One analyst has rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $11.27.
The firm has a 50 day moving average price of $9.51 and a 200 day moving average price of $9.16. The firm has a market capitalization of $2.03 billion and a PE ratio of 18.31.
DiamondRock Hospitality (NYSE:DRH) last released its earnings results on Friday, August 5th. The real estate investment trust reported $0.31 EPS for the quarter, missing the consensus estimate of $0.32 by $0.01. The company had revenue of $256.66 million for the quarter, compared to analyst estimates of $259.26 million. DiamondRock Hospitality’s revenue was up 2.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.31 earnings per share. Equities analysts anticipate that DiamondRock Hospitality Co. will post $1.04 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 12th. Investors of record on Thursday, June 30th were paid a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 4.97%. The ex-dividend date was Tuesday, June 28th.
A number of hedge funds have added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in DiamondRock Hospitality by 2.6% in the fourth quarter. Vanguard Group Inc. now owns 29,422,859 shares of the real estate investment trust’s stock valued at $283,930,000 after buying an additional 738,896 shares in the last quarter. Marshall Wace LLP raised its stake 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 valued at $7,156,000 after buying an additional 696,406 shares in the last quarter. Matarin Capital Management LLC acquired a new stake in DiamondRock Hospitality during the fourth quarter valued at approximately $3,538,000. Morgan Stanley raised its stake in 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 valued at $9,944,000 after buying an additional 228,909 shares in the last quarter. Finally, State of Tennessee Treasury Department acquired a new stake in DiamondRock Hospitality during the fourth quarter valued at approximately $1,499,000.
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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