DiamondRock Hospitality Co. (DRH) Given Average Recommendation of “Hold” by Brokerages
DiamondRock Hospitality Co. (NYSE:DRH) has been given a consensus rating of “Hold” by the fourteen research firms that are currently covering the firm. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating on the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $10.60.
A number of equities analysts have commented on DRH shares. Morgan Stanley cut DiamondRock Hospitality from an “equal weight” rating to an “underweight” rating and reduced their target price for the company from $10.00 to $8.00 in a report on Monday, September 26th. Barclays PLC reissued a “buy” rating and set a $11.00 target price on shares of DiamondRock Hospitality in a report on Thursday, August 11th. Zacks Investment Research raised DiamondRock Hospitality from a “sell” rating to a “hold” rating in a report on Tuesday, September 13th. Canaccord Genuity reissued a “buy” rating and set a $12.00 target price on shares of DiamondRock Hospitality in a report on Wednesday, November 9th. Finally, Citigroup Inc. increased their target price on DiamondRock Hospitality from $9.00 to $10.00 and gave the company a “neutral” rating in a report on Wednesday, October 5th.
DiamondRock Hospitality (NYSE:DRH) traded up 1.707% during trading on Tuesday, reaching $10.425. The company had a trading volume of 1,116,440 shares. The company’s 50-day moving average is $9.53 and its 200 day moving average is $9.50. The firm has a market capitalization of $2.09 billion, a price-to-earnings ratio of 17.974 and a beta of 1.25. DiamondRock Hospitality has a 52 week low of $7.28 and a 52 week high of $11.28.
DiamondRock Hospitality (NYSE:DRH) last announced its earnings results on Wednesday, November 9th. The real estate investment trust reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.01. DiamondRock Hospitality had a return on equity of 6.37% and a net margin of 12.62%. The business earned $220.24 million during the quarter, compared to analysts’ expectations of $225.08 million. During the same quarter in the prior year, the firm earned $0.26 earnings per share. The business’s revenue was down 7.7% compared to the same quarter last year. Equities analysts anticipate that DiamondRock Hospitality will post $1.01 EPS for the current year.
A number of hedge funds and other institutional investors have recently modified their holdings of DRH. FMR LLC raised its position in shares of DiamondRock Hospitality by 18.6% in the second quarter. FMR LLC now owns 15,716,906 shares of the real estate investment trust’s stock valued at $141,924,000 after buying an additional 2,459,781 shares during the last quarter. Mesirow Financial Investment Management Equity Management purchased a new position in DiamondRock Hospitality during the third quarter valued at approximately $16,385,000. Morgan Stanley raised its position in DiamondRock Hospitality by 95.6% in the third quarter. Morgan Stanley now owns 3,327,423 shares of the real estate investment trust’s stock valued at $30,278,000 after buying an additional 1,626,459 shares in the last quarter. BlackRock Fund Advisors raised its position in DiamondRock Hospitality by 11.1% in the third quarter. BlackRock Fund Advisors now owns 15,487,667 shares of the real estate investment trust’s stock valued at $140,938,000 after buying an additional 1,542,270 shares in the last quarter. Finally, Emerald Acquisition Ltd. purchased a new position in DiamondRock Hospitality during the second quarter valued at approximately $13,710,000.
About DiamondRock Hospitality
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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