Shares of DiamondRock Hospitality (NYSE:DRH) have been given an average recommendation of “Buy” by the ten brokerages that are presently covering the firm, Marketbeat reports. Five research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $9.56.
Several research analysts have recently weighed in on the company. Raymond James lowered their target price on DiamondRock Hospitality from $11.50 to $10.50 and set an “outperform” rating on the stock in a report on Friday, August 13th. Truist raised shares of DiamondRock Hospitality from a “sell” rating to a “hold” rating and set a $8.00 price objective for the company in a report on Tuesday, August 17th. Zacks Investment Research raised shares of DiamondRock Hospitality from a “hold” rating to a “buy” rating and set a $11.00 target price on the stock in a research report on Monday, September 27th. Robert W. Baird reissued a “buy” rating on shares of DiamondRock Hospitality in a research note on Thursday, July 1st. Finally, Truist Securities raised DiamondRock Hospitality from a “sell” rating to a “hold” rating and set a $8.00 price objective for the company in a research report on Tuesday, August 17th.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Harbor Investment Advisory LLC increased its stake in DiamondRock Hospitality by 78.0% in the 2nd quarter. Harbor Investment Advisory LLC now owns 3,160 shares of the real estate investment trust’s stock worth $31,000 after purchasing an additional 1,385 shares in the last quarter. Eaton Vance Management acquired a new position in DiamondRock Hospitality in the 1st quarter worth approximately $43,000. Xponance Inc. acquired a new position in DiamondRock Hospitality in the 2nd quarter worth approximately $110,000. PNC Financial Services Group Inc. raised its stake in DiamondRock Hospitality by 26.8% during the 2nd quarter. PNC Financial Services Group Inc. now owns 11,806 shares of the real estate investment trust’s stock valued at $113,000 after purchasing an additional 2,496 shares during the period. Finally, Virtu Financial LLC acquired a new stake in shares of DiamondRock Hospitality in the first quarter worth $138,000.
DiamondRock Hospitality (NYSE:DRH) last posted its quarterly earnings results on Thursday, August 5th. The real estate investment trust reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.07). DiamondRock Hospitality had a negative return on equity of 28.76% and a negative net margin of 155.43%. As a group, analysts forecast that DiamondRock Hospitality will post 0.13 EPS for the current year.
DiamondRock Hospitality Company Profile
DiamondRock Hospitality Co is a real estate investment trust which focuses on lodging properties. It engages in the acquisition, ownership, asset management, and renovation of hotels and resorts. Its brands include Autograph Collection Hotels, Courtyard Marriott, Hilton Garden Inn, Hilton Hotels & Resorts, JW Marriott, and Kimpton Hotels & Restaurants.
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