Brokers Offer Predictions for Diamondrock Hospitality Company’s Q4 2018 Earnings (DRH)

Diamondrock Hospitality Company (NYSE:DRH) – Investment analysts at SunTrust Banks boosted their Q4 2018 earnings estimates for shares of Diamondrock Hospitality in a report released on Tuesday. SunTrust Banks analyst P. Scholes now expects that the real estate investment trust will post earnings of $0.26 per share for the quarter, up from their previous forecast of $0.25.

Other equities analysts have also issued research reports about the company. Zacks Investment Research raised Diamondrock Hospitality from a “hold” rating to a “buy” rating and set a $13.00 price objective for the company in a research report on Monday, July 10th. Stifel Nicolaus reissued a “buy” rating on shares of Diamondrock Hospitality in a research report on Thursday, August 10th. Canaccord Genuity reissued a “buy” rating and set a $13.00 price objective on shares of Diamondrock Hospitality in a research report on Monday, August 7th. Robert W. Baird set a $12.00 price objective on Diamondrock Hospitality and gave the company a “buy” rating in a research report on Sunday, September 10th. Finally, KeyCorp reissued a “hold” rating on shares of Diamondrock Hospitality in a research report on Sunday, September 24th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $12.00.

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Diamondrock Hospitality (NYSE DRH) traded up 0.407% on Wednesday, reaching $11.095. 1,210,154 shares of the company’s stock traded hands. The firm’s 50 day moving average price is $10.86 and its 200 day moving average price is $11.14. Diamondrock Hospitality has a 12 month low of $8.73 and a 12 month high of $12.08. The company has a market cap of $2.22 billion, a PE ratio of 22.460 and a beta of 1.39.

Diamondrock Hospitality (NYSE:DRH) last released its quarterly earnings data on Monday, August 7th. The real estate investment trust reported $0.32 earnings per share for the quarter, topping 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 quarter in the prior year, the company posted $0.31 earnings per share. The business’s revenue was up 1.2% on a year-over-year basis.

The business also recently declared a quarterly dividend, which was paid on Thursday, October 12th. Stockholders of record on Friday, September 29th were given a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 4.52%. The ex-dividend date was Thursday, September 28th. Diamondrock Hospitality’s dividend payout ratio is presently 102.04%.

In other news, Director Maureen L. Mcavey sold 6,000 shares of Diamondrock Hospitality stock in a transaction dated Monday, August 14th. The stock was 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 transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.10% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Ronald Blue & Co. LLC raised its position in shares of Diamondrock Hospitality by 1.0% in the 2nd quarter. Ronald Blue & Co. LLC now owns 11,203 shares of the real estate investment trust’s stock worth $123,000 after purchasing an additional 116 shares during the last quarter. Amalgamated Bank raised its position in shares of Diamondrock Hospitality by 0.6% in the 2nd quarter. Amalgamated Bank now owns 27,339 shares of the real estate investment trust’s stock worth $299,000 after purchasing an additional 151 shares during the last quarter. World Asset Management Inc raised its position in shares of Diamondrock Hospitality by 2.2% in the 2nd quarter. World Asset Management Inc now owns 13,047 shares of the real estate investment trust’s stock worth $143,000 after purchasing an additional 282 shares during the last quarter. Municipal Employees Retirement System of Michigan raised its position in shares of Diamondrock Hospitality by 0.6% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 54,800 shares of the real estate investment trust’s stock worth $600,000 after purchasing an additional 320 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its position in shares of Diamondrock Hospitality by 0.5% in the 2nd quarter. PNC Financial Services Group Inc. now owns 132,999 shares of the real estate investment trust’s stock worth $1,456,000 after purchasing an additional 605 shares during the last quarter.

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.

Earnings History and Estimates for Diamondrock Hospitality (NYSE:DRH)

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