Diamondrock Hospitality Company (DRH) Lifted to Buy at Zacks Investment Research
Zacks Investment Research upgraded shares of Diamondrock Hospitality Company (NYSE:DRH) from a hold rating to a buy rating in a research report released on Wednesday morning. Zacks Investment Research currently has $12.00 price objective on the real estate investment trust’s stock.
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. “
A number of other analysts have also commented on the stock. KeyCorp reaffirmed a hold rating on shares of Diamondrock Hospitality in a report on Sunday, September 24th. Stifel Nicolaus reaffirmed a buy rating and set a $12.00 target price on shares of Diamondrock Hospitality in a report on Thursday, September 21st. Robert W. Baird set a $12.00 target price on shares of Diamondrock Hospitality and gave the stock a buy rating in a report on Sunday, September 10th. Canaccord Genuity reaffirmed a buy rating and set a $13.00 target price on shares of Diamondrock Hospitality in a report on Monday, August 7th. Finally, BidaskClub raised shares of Diamondrock Hospitality from a sell rating to a hold rating in a report on Thursday, August 3rd. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average price target of $12.00.
Shares of Diamondrock Hospitality (NYSE:DRH) opened at 11.02 on Wednesday. The company has a market capitalization of $2.21 billion, a price-to-earnings ratio of 22.31 and a beta of 1.39. The stock’s 50 day moving average price is $10.86 and its 200 day moving average price is $11.14. Diamondrock Hospitality has a 1-year low of $8.73 and a 1-year high of $12.08.
Diamondrock Hospitality (NYSE:DRH) last released its earnings results on Monday, August 7th. The real estate investment trust reported $0.32 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $240.73 million. During the same quarter in the previous year, the business earned $0.31 EPS. The business’s quarterly revenue was up 1.2% compared to the same quarter last year. Analysts expect that Diamondrock Hospitality will post $0.46 EPS for the current year.
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The company also recently declared a quarterly dividend, which was paid on Thursday, October 12th. Stockholders of record on Friday, September 29th were issued a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 4.54%. The ex-dividend date was Thursday, September 28th. Diamondrock Hospitality’s dividend payout ratio (DPR) is 102.04%.
In other news, Director Maureen L. Mcavey sold 6,000 shares of the business’s stock in a transaction on Monday, August 14th. The shares were sold at an average price of $11.20, for a total value of $67,200.00. Following the completion of the transaction, the director now owns 81,030 shares of the company’s stock, valued at approximately $907,536. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.10% of the stock is owned by insiders.
Several hedge funds have recently made changes to their positions in the company. Eqis Capital Management Inc. grew its holdings in shares of Diamondrock Hospitality by 18.6% in the 3rd quarter. Eqis Capital Management Inc. now owns 33,508 shares of the real estate investment trust’s stock valued at $367,000 after buying an additional 5,260 shares during the period. Perpetual Ltd acquired a new position in shares of Diamondrock Hospitality in the 2nd quarter valued at $4,290,000. Piedmont Investment Advisors LLC grew its holdings in shares of Diamondrock Hospitality by 261.6% in the 2nd quarter. Piedmont Investment Advisors LLC now owns 43,301 shares of the real estate investment trust’s stock valued at $474,000 after buying an additional 31,326 shares during the period. Susquehanna International Group LLP grew its holdings in shares of Diamondrock Hospitality by 420.6% in the 2nd quarter. Susquehanna International Group LLP now owns 243,105 shares of the real estate investment trust’s stock valued at $2,662,000 after buying an additional 196,405 shares during the period. Finally, Cubist Systematic Strategies LLC grew its holdings in shares of Diamondrock Hospitality by 541.9% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 72,678 shares of the real estate investment trust’s stock valued at $796,000 after buying an additional 61,356 shares during the period.
About Diamondrock Hospitality
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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