Weekly Research Analysts’ Ratings Updates for DiamondRock Hospitality (DRH)

Several analysts have recently updated their ratings and price targets for DiamondRock Hospitality (NYSE: DRH):

  • 11/1/2018 – DiamondRock Hospitality had its “market perform” rating reaffirmed by analysts at Wells Fargo & Co.
  • 10/31/2018 – DiamondRock Hospitality was downgraded by analysts at Wells Fargo & Co from an “outperform” rating to a “market perform” rating. They now have a $11.00 price target on the stock, down previously from $14.00.
  • 10/25/2018 – DiamondRock Hospitality was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. 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. “
  • 10/15/2018 – DiamondRock Hospitality was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $12.00 price target on the 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. “

Shares of DRH traded up $0.20 during midday trading on Monday, hitting $10.49. 998,179 shares of the stock were exchanged, compared to its average volume of 2,602,109. DiamondRock Hospitality has a 52-week low of $9.87 and a 52-week high of $12.99. The firm has a market cap of $2.14 billion, a P/E ratio of 10.49, a P/E/G ratio of 3.06 and a beta of 1.37. The company has a quick ratio of 2.43, a current ratio of 2.43 and a debt-to-equity ratio of 0.49.

DiamondRock Hospitality (NYSE:DRH) last posted its earnings results on Thursday, August 2nd. The real estate investment trust reported $0.14 EPS for the quarter, missing the Zacks’ consensus estimate of $0.32 by ($0.18). DiamondRock Hospitality had a return on equity of 4.26% and a net margin of 9.26%. The firm had revenue of $236.70 million for the quarter, compared to analyst estimates of $241.52 million. During the same quarter last year, the firm posted $0.32 EPS. The firm’s revenue for the quarter was up 2.1% on a year-over-year basis. Sell-side analysts expect that DiamondRock Hospitality will post 1.01 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, October 12th. Shareholders of record on Friday, September 28th were paid a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 4.77%. The ex-dividend date was Thursday, September 27th. DiamondRock Hospitality’s dividend payout ratio is presently 50.00%.

Several hedge funds and other institutional investors have recently made changes to their positions in DRH. Jane Street Group LLC acquired a new stake in DiamondRock Hospitality during the first quarter worth about $269,000. Xact Kapitalforvaltning AB boosted its position in shares of DiamondRock Hospitality by 61.2% during the first quarter. Xact Kapitalforvaltning AB now owns 31,350 shares of the real estate investment trust’s stock valued at $327,000 after buying an additional 11,900 shares during the last quarter. Principal Financial Group Inc. boosted its position in shares of DiamondRock Hospitality by 3.1% during the first quarter. Principal Financial Group Inc. now owns 1,571,436 shares of the real estate investment trust’s stock valued at $16,406,000 after buying an additional 47,627 shares during the last quarter. James Investment Research Inc. purchased a new stake in shares of DiamondRock Hospitality during the second quarter valued at $2,245,000. Finally, Foundry Partners LLC boosted its position in shares of DiamondRock Hospitality by 19.3% during the second quarter. Foundry Partners LLC now owns 36,685 shares of the real estate investment trust’s stock valued at $450,000 after buying an additional 5,925 shares during the last quarter.

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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