Investors Buy Shares of DiamondRock Hospitality Co. (DRH) on Weakness
Traders purchased shares of DiamondRock Hospitality Co. (NYSE:DRH) on weakness during trading hours on Friday. $15.40 million flowed into the stock on the tick-up and $4.10 million flowed out of the stock on the tick-down, for a money net flow of $11.30 million into the stock. Of all stocks tracked, DiamondRock Hospitality had the 9th highest net in-flow for the day. DiamondRock Hospitality traded down ($0.02) for the day and closed at $10.70
A number of equities analysts recently commented on the company. Deutsche Bank AG restated a “hold” rating and set a $11.00 target price on shares of DiamondRock Hospitality in a report on Sunday, June 26th. Barclays PLC reiterated a “buy” rating and issued a $11.00 price objective on shares of DiamondRock Hospitality in a report on Thursday, August 11th. Zacks Investment Research upgraded DiamondRock Hospitality from a “sell” rating to a “hold” rating in a report on Tuesday, May 10th. 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 objective for the company. Finally, Canaccord Genuity reiterated a “buy” rating and issued a $12.00 price objective on shares of DiamondRock Hospitality in a report on Friday, May 6th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $11.27.
The company’s 50 day moving average is $9.98 and its 200-day moving average is $9.40. The firm has a market cap of $2.15 billion and a P/E ratio of 19.45.
DiamondRock Hospitality (NYSE:DRH) last posted its quarterly earnings data on Friday, August 5th. The real estate investment trust reported $0.31 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.32 by $0.01. During the same period in the prior year, the firm posted $0.31 EPS. The company earned $256.66 million during the quarter, compared to the consensus estimate of $259.26 million. The firm’s revenue for the quarter was up 2.8% compared to the same quarter last year. Equities analysts predict that DiamondRock Hospitality Co. will post $1.02 EPS for the current fiscal year.
A hedge fund recently raised its stake in DiamondRock Hospitality stock. New York State Common Retirement Fund raised its position in shares of DiamondRock Hospitality Co. (NYSE:DRH) by 1.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 231,012 shares of the real estate investment trust’s stock after buying an additional 3,400 shares during the period. New York State Common Retirement Fund owned about 0.12% of DiamondRock Hospitality worth $2,229,000 as of its most recent filing with the SEC.
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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