DiamondRock Hospitality (NYSE:DRH) was downgraded by analysts at Wells Fargo & Co from an “outperform” rating to a “market perform” rating in a note issued to investors on Wednesday, Marketbeat reports. They currently have a $11.00 price objective on the real estate investment trust’s stock, down from their prior price objective of $14.00. Wells Fargo & Co’s price objective would indicate a potential upside of 6.08% from the stock’s current price.
A number of other analysts have also weighed in on the stock. Zacks Investment Research lowered shares of DiamondRock Hospitality from a “buy” rating to a “hold” rating in a report on Thursday, October 25th. Citigroup raised their price target on shares of DiamondRock Hospitality from $11.00 to $12.00 and gave the company a “neutral” rating in a report on Wednesday, August 8th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the stock. DiamondRock Hospitality currently has an average rating of “Hold” and a consensus price target of $11.91.
Shares of DiamondRock Hospitality stock opened at $10.37 on Wednesday. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.43 and a quick ratio of 2.43. The company has a market capitalization of $2.18 billion, a P/E ratio of 10.37, a P/E/G ratio of 3.11 and a beta of 1.38. DiamondRock Hospitality has a fifty-two week low of $9.87 and a fifty-two week high of $12.99.
DiamondRock Hospitality (NYSE:DRH) last issued its quarterly earnings results on Thursday, August 2nd. The real estate investment trust reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.18). The company had revenue of $236.70 million during the quarter, compared to analyst estimates of $241.52 million. DiamondRock Hospitality had a net margin of 9.26% and a return on equity of 4.26%. The business’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.32 EPS. Equities analysts predict that DiamondRock Hospitality will post 1.01 earnings per share for the current fiscal year.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in DRH. Federated Investors Inc. PA grew its holdings in DiamondRock Hospitality by 469.2% during the 2nd quarter. Federated Investors Inc. PA now owns 10,661 shares of the real estate investment trust’s stock worth $131,000 after acquiring an additional 8,788 shares during the period. Verition Fund Management LLC acquired a new stake in DiamondRock Hospitality during the 2nd quarter worth $158,000. First Hawaiian Bank acquired a new stake in DiamondRock Hospitality during the 3rd quarter worth $171,000. Jane Street Group LLC acquired a new stake in DiamondRock Hospitality during the 1st quarter worth $269,000. Finally, Acadian Asset Management LLC acquired a new stake in DiamondRock Hospitality during the 2nd quarter worth $318,000.
About DiamondRock Hospitality
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 30 premium quality hotels with over 9,900 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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