SunTrust Banks Research Analysts Decrease Earnings Estimates for Diamondrock Hospitality Company (DRH)
Diamondrock Hospitality Company (NYSE:DRH) – Equities researchers at SunTrust Banks dropped their Q3 2017 earnings estimates for shares of Diamondrock Hospitality in a note issued to investors on Wednesday. SunTrust Banks analyst P. Scholes now expects that the real estate investment trust will post earnings per share of $0.25 for the quarter, down from their previous forecast of $0.27. SunTrust Banks also issued estimates for Diamondrock Hospitality’s Q4 2017 earnings at $0.25 EPS, Q3 2018 earnings at $0.26 EPS and FY2018 earnings at $1.02 EPS.
Diamondrock Hospitality (NYSE:DRH) last released its quarterly earnings data on Monday, August 7th. The real estate investment trust reported $0.32 EPS for the quarter, beating the Thomson Reuters’ 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 firm had revenue of $243.30 million for the quarter, compared to the consensus estimate of $240.73 million. During the same period in the previous year, the company earned $0.31 earnings per share. The company’s quarterly revenue was up 1.2% on a year-over-year basis. TRADEMARK VIOLATION NOTICE: “SunTrust Banks Research Analysts Decrease Earnings Estimates for Diamondrock Hospitality Company (DRH)” was first posted by Daily Political and is the sole property of of Daily Political. If you are viewing this report on another publication, it was stolen and reposted in violation of international trademark & copyright legislation. The correct version of this report can be viewed at https://www.dailypolitical.com/2017/08/11/suntrust-banks-research-analysts-decrease-earnings-estimates-for-diamondrock-hospitality-company-drh.html.
A number of other research firms have also recently commented on DRH. UBS AG upgraded Diamondrock Hospitality from a “market perform” rating to an “outperform” rating in a research note on Friday, July 14th. Stifel Nicolaus reiterated a “buy” rating on shares of Diamondrock Hospitality in a research note on Thursday. Zacks Investment Research cut Diamondrock Hospitality from a “buy” rating to a “hold” rating in a research note on Thursday. Canaccord Genuity reiterated a “buy” rating and set a $13.00 target price on shares of Diamondrock Hospitality in a research note on Friday, May 5th. Finally, Raymond James Financial, Inc. upgraded Diamondrock Hospitality from a “market perform” rating to an “outperform” rating and set a $13.00 target price on the stock in a research note on Friday, July 14th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $11.56.
Diamondrock Hospitality (NYSE DRH) opened at 10.93 on Friday. Diamondrock Hospitality has a 12-month low of $8.73 and a 12-month high of $12.08. The firm has a market capitalization of $2.19 billion, a P/E ratio of 22.13 and a beta of 1.38. The firm has a 50 day moving average of $11.48 and a 200 day moving average of $11.24.
Large investors have recently made changes to their positions in the company. Meeder Asset Management Inc. purchased a new stake in shares of Diamondrock Hospitality during the first quarter valued at $116,000. 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 valued at $122,000 after buying an additional 644 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 valued at $123,000 after buying an additional 116 shares during the period. Piedmont Investment Advisors LLC purchased a new stake in shares of Diamondrock Hospitality during the first quarter valued at $134,000. Finally, OLD National Bancorp IN purchased a new stake in shares of Diamondrock Hospitality during the first quarter valued at $142,000.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 12th. Investors of record on Friday, June 30th were issued a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 4.57%. The ex-dividend date of this dividend was Wednesday, June 28th. Diamondrock Hospitality’s dividend payout ratio (DPR) is currently 102.04%.
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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