DiamondRock Hospitality Co. (DRH) Trading 2.7% Higher
Shares of DiamondRock Hospitality Co. (NYSE:DRH) traded up 2.7% during mid-day trading on Monday . The company traded as high as $9.63 and last traded at $9.63, with a volume of 932,554 shares traded. The stock had previously closed at $9.38.
A number of equities analysts have recently commented on DRH shares. Deutsche Bank AG reaffirmed a “hold” rating and issued a $11.00 price target on shares of DiamondRock Hospitality in a report on Sunday, June 26th. Credit Suisse Group AG reaffirmed an “outperform” rating and issued a $10.50 price target (up from $9.50) on shares of DiamondRock Hospitality in a report on Wednesday, March 23rd. Janney Montgomery Scott started coverage on DiamondRock Hospitality in a report on Monday, May 23rd. They issued a “neutral” rating and a $9.50 price target for the company. Stifel Nicolaus started coverage on DiamondRock Hospitality in a report on Tuesday, March 29th. They issued a “hold” rating for the company. Finally, Canaccord Genuity reaffirmed a “buy” rating and issued a $12.00 price target on shares of DiamondRock Hospitality in a report on Friday, May 6th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $11.27.
The stock has a market capitalization of $1.99 billion and a PE ratio of 21.64. The stock has a 50 day moving average of $9.26 and a 200 day moving average of $9.08.
DiamondRock Hospitality (NYSE:DRH) last announced 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 quarter in the prior year, the firm posted $0.19 earnings per share. The company had revenue of $213.03 million for the quarter, compared to analysts’ expectations of $219.15 million. DiamondRock Hospitality’s quarterly revenue was up 2.0% on a year-over-year basis. On average, equities research analysts forecast that DiamondRock Hospitality Co. will post $1.05 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, July 12th. Shareholders of record on Thursday, June 30th were paid a dividend of $0.125 per share. 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 5.06%.
Other large investors recently bought and sold shares of the company. Matarin Capital Management LLC bought a new stake in DiamondRock Hospitality during the fourth quarter valued at approximately $3,538,000. 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 during the period. Victory Capital Management Inc. raised its stake 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 valued at $26,026,000 after buying an additional 115,317 shares during the period. Principal Financial Group Inc. raised its stake 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 valued at $13,151,000 after buying an additional 57,648 shares during the period. Finally, 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 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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