Diamondrock Hospitality Company (NYSE:DRH) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Thursday.

According to Zacks, “DiamondRock Hospitality Company is a self-advised real estate company that owns, acquires and invests in upper upscale and upscale hotel properties located primarily in North America. To a lesser extent, it may invest, on a selective basis, in premium limited-service and extended-stay hotel properties in urban locations. The Company has a strategic acquisition sourcing relationship with Marriott International. “

Other research analysts have also recently issued reports about the stock. UBS AG raised shares of Diamondrock Hospitality from a “market perform” rating to an “outperform” rating in a research note on Friday, July 14th. Stifel Nicolaus reissued a “buy” rating on shares of Diamondrock Hospitality in a research note on Thursday. ING Group raised shares of Diamondrock Hospitality to an “outperform” rating and set a $13.00 price objective for the company in a research note on Monday, July 17th. They noted that the move was a valuation call. Raymond James Financial, Inc. raised shares of Diamondrock Hospitality from a “market perform” rating to an “outperform” rating and set a $13.00 price objective for the company in a research note on Friday, July 14th. Finally, Canaccord Genuity reissued a “buy” rating and set a $13.00 price objective on shares of Diamondrock Hospitality in a research note on Friday, May 5th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $11.56.

Shares of Diamondrock Hospitality (NYSE:DRH) remained flat at $10.93 on Thursday. The company had a trading volume of 1,906,594 shares. The stock has a market cap of $2.19 billion, a PE ratio of 22.13 and a beta of 1.38. The stock’s 50 day moving average price is $11.50 and its 200 day moving average price is $11.24. Diamondrock Hospitality has a 1-year low of $8.73 and a 1-year high of $12.08.

Diamondrock Hospitality (NYSE:DRH) last issued its quarterly earnings data on Monday, August 7th. The real estate investment trust reported $0.32 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.31 by $0.01. Diamondrock Hospitality had a net margin of 11.47% and a return on equity of 5.41%. The business had revenue of $243.30 million during the quarter, compared to analysts’ expectations of $240.73 million. During the same period last year, the company posted $0.31 EPS. The company’s revenue was up 1.2% on a year-over-year basis. Equities research analysts expect that Diamondrock Hospitality will post $0.48 EPS for the current fiscal year.

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A number of hedge funds have recently made changes to their positions in the company. World Asset Management Inc raised its stake in shares of Diamondrock Hospitality by 0.9% in the first quarter. World Asset Management Inc now owns 12,765 shares of the real estate investment trust’s stock worth $142,000 after buying an additional 108 shares during the period. Ronald Blue & Co. LLC raised its stake in shares of Diamondrock Hospitality by 1.0% in the second quarter. Ronald Blue & Co. LLC now owns 11,203 shares of the real estate investment trust’s stock worth $123,000 after buying an additional 116 shares during the period. Municipal Employees Retirement System of Michigan raised its stake in shares of Diamondrock Hospitality by 0.6% in the second quarter. Municipal Employees Retirement System of Michigan now owns 54,800 shares of the real estate investment trust’s stock worth $600,000 after buying an additional 320 shares during the period. Meadow Creek Investment Management LLC raised its stake in shares of Diamondrock Hospitality by 6.3% in the first quarter. Meadow Creek Investment Management LLC now owns 10,892 shares of the real estate investment trust’s stock worth $122,000 after buying an additional 644 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Diamondrock Hospitality by 5.7% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,706 shares of the real estate investment trust’s stock worth $153,000 after buying an additional 741 shares during the period.

Diamondrock Hospitality Company Profile

DiamondRock Hospitality Company is a real estate investment trust (REIT). As of December 31, 2016, the Company owned a portfolio of 26 hotels and resorts that contains 9,472 guest rooms located in 17 different markets in North America and the United States Virgin Islands. Its business is to acquire, own, asset manage and renovate hotel properties in the United States.

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Analyst Recommendations for Diamondrock Hospitality (NYSE:DRH)

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