DiamondRock Hospitality Co. (DRH) Sees Strong Trading Volume
Shares of DiamondRock Hospitality Co. (NYSE:DRH) saw unusually-high trading volume on Monday . Approximately 3,004,102 shares were traded during mid-day trading, an increase of 42% from the previous session’s volume of 2,113,927 shares.The stock last traded at $10.45 and had previously closed at $10.44.
DRH has been the subject of a number of research analyst reports. TheStreet raised shares of DiamondRock Hospitality from a “hold” rating to a “buy” rating in a report on Tuesday, July 19th. Barclays PLC reissued a “buy” rating and issued a $11.00 price target on shares of DiamondRock Hospitality in a report on Thursday, August 11th. Canaccord Genuity reissued a “buy” rating and issued a $12.00 price target on shares of DiamondRock Hospitality in a report on Friday, May 6th. Zacks Investment Research downgraded shares of DiamondRock Hospitality from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 19th. Finally, Janney Montgomery Scott initiated coverage on shares of DiamondRock Hospitality in a report on Monday, May 23rd. They issued a “neutral” rating and a $9.50 price target for the company. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $11.27.
The company has a market capitalization of $2.12 billion and a price-to-earnings ratio of 19.16. The stock has a 50 day moving average price of $9.81 and a 200-day moving average price of $9.34.
DiamondRock Hospitality (NYSE:DRH) last announced its quarterly earnings data on Friday, August 5th. The real estate investment trust reported $0.31 EPS for the quarter, missing the Zacks’ consensus estimate of $0.32 by $0.01. During the same period last year, the firm posted $0.31 EPS. The company earned $256.66 million during the quarter, compared to analysts’ expectations of $259.26 million. The firm’s revenue for the quarter was up 2.8% on a year-over-year basis. On average, equities research analysts anticipate that DiamondRock Hospitality Co. will post $1.02 EPS for the current fiscal year.
Other hedge funds have recently made changes to their positions in the company. State of Tennessee Treasury Department purchased a new stake in shares of DiamondRock Hospitality during the fourth quarter worth approximately $1,499,000. New York State Common Retirement Fund raised 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 worth $2,229,000 after buying an additional 3,400 shares during the last quarter. Matarin Capital Management LLC purchased a new stake in shares of DiamondRock Hospitality during the fourth quarter worth approximately $3,538,000. Finally, Principal Financial Group Inc. raised its stake in shares of 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 last quarter.
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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