DiamondRock Hospitality (NYSE:DRH) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Monday, Zacks.com reports.

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 research reports about the company. TheStreet raised DiamondRock Hospitality from a “c+” rating to a “b-” rating in a research note on Friday, February 15th. Deutsche Bank reissued a “hold” rating and issued a $12.00 price objective on shares of DiamondRock Hospitality in a research note on Thursday, February 28th. Barclays cut DiamondRock Hospitality from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $13.00 to $11.00 in a research note on Tuesday, December 18th. ValuEngine cut DiamondRock Hospitality from a “hold” rating to a “sell” rating in a research report on Wednesday, January 2nd. Finally, Wells Fargo & Co reaffirmed a “sell” rating on shares of DiamondRock Hospitality in a research report on Wednesday, March 6th. Six analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the stock. DiamondRock Hospitality presently has a consensus rating of “Hold” and an average price target of $10.53.

NYSE:DRH traded down $0.10 during midday trading on Monday, hitting $10.84. The stock had a trading volume of 866,652 shares, compared to its average volume of 2,673,331. DiamondRock Hospitality has a one year low of $8.69 and a one year high of $12.99. The stock has a market cap of $2.20 billion, a P/E ratio of 10.63, a price-to-earnings-growth ratio of 2.16 and a beta of 1.46. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.52.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Wells Fargo & Company MN boosted its position in shares of DiamondRock Hospitality by 5.0% in the 3rd quarter. Wells Fargo & Company MN now owns 351,814 shares of the real estate investment trust’s stock worth $4,105,000 after purchasing an additional 16,609 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of DiamondRock Hospitality by 3.9% in the 3rd quarter. Bank of New York Mellon Corp now owns 3,215,605 shares of the real estate investment trust’s stock worth $37,526,000 after purchasing an additional 120,150 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of DiamondRock Hospitality by 0.4% in the 3rd quarter. Dimensional Fund Advisors LP now owns 3,258,876 shares of the real estate investment trust’s stock worth $38,031,000 after purchasing an additional 11,552 shares in the last quarter. Standard Life Aberdeen plc boosted its position in shares of DiamondRock Hospitality by 48.4% in the 3rd quarter. Standard Life Aberdeen plc now owns 833,349 shares of the real estate investment trust’s stock worth $9,721,000 after purchasing an additional 271,629 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its position in shares of DiamondRock Hospitality by 5.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,997,125 shares of the real estate investment trust’s stock worth $46,647,000 after purchasing an additional 222,009 shares in the last quarter.

DiamondRock Hospitality Company Profile

DiamondRock Hospitality Company is a self-advised real estate investment trust (REIT) that is an owner of a leading portfolio of geographically diversified hotels concentrated in top gateway markets and destination resort locations. The Company owns 31 premium quality hotels with over 10,000 rooms. The Company has strategically positioned its hotels to be operated both under leading global brand families such as Hilton and Marriott as well as unique boutique hotels in the lifestyle segment.

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