Investors Buy Shares of DiamondRock Hospitality Co. (DRH) on Weakness
Traders bought shares of DiamondRock Hospitality Co. (NYSE:DRH) on weakness during trading 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 equities 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 analysts have commented on DRH shares. Canaccord Genuity reaffirmed a “buy” rating and set a $12.00 price target on shares of DiamondRock Hospitality in a research report on Tuesday, August 16th. Barclays PLC reaffirmed a “buy” rating and set a $11.00 price target on shares of DiamondRock Hospitality in a research report on Thursday, August 11th. TheStreet raised DiamondRock Hospitality from a “hold” rating to a “buy” rating in a research report on Tuesday, July 19th. Zacks Investment Research raised DiamondRock Hospitality from a “sell” rating to a “hold” rating in a research report on Tuesday, May 10th. Finally, Deutsche Bank AG reaffirmed a “hold” rating and set a $11.00 price target on shares of DiamondRock Hospitality in a research report on Sunday, June 26th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company’s stock. DiamondRock Hospitality has a consensus rating of “Hold” and a consensus target price of $11.27.
The firm’s 50-day moving average is $9.98 and its 200 day moving average is $9.40. The firm has a market capitalization of $2.15 billion and a PE ratio of 19.45.
DiamondRock Hospitality (NYSE:DRH) last posted 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 earned $256.66 million during the quarter, compared to analysts’ expectations of $259.26 million. During the same quarter in the previous year, the business earned $0.31 earnings per share. DiamondRock Hospitality’s revenue was up 2.8% compared to the same quarter last year. Equities research analysts forecast that DiamondRock Hospitality Co. will post $1.02 earnings per share for the current year.
An institutional investor recently raised its position in DiamondRock Hospitality stock. Principal Financial Group Inc. increased its stake in shares of DiamondRock Hospitality Co. (NYSE:DRH) by 4.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,362,785 shares of the real estate investment trust’s stock after buying an additional 57,648 shares during the period. Principal Financial Group Inc. owned approximately 0.68% of DiamondRock Hospitality worth $13,151,000 at the end of the most recent reporting 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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