DiamondRock Hospitality Co. (NYSE:DRH) Given Consensus Rating of “Hold” by Brokerages
DiamondRock Hospitality Co. (NYSE:DRH) has received an average recommendation of “Hold” from the fifteen analysts that are currently covering the company. Seven equities research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $11.00.
A number of equities analysts have issued reports on the company. Deutsche Bank AG reiterated a “hold” rating and set a $11.00 target price on shares of DiamondRock Hospitality in a report on Sunday, June 26th. Barclays PLC reiterated a “buy” rating and set a $11.00 target price on shares of DiamondRock Hospitality in a report on Thursday, August 11th. Zacks Investment Research upgraded DiamondRock Hospitality from a “sell” rating to a “hold” rating in a report on Tuesday, September 13th. Janney Montgomery Scott assumed coverage on DiamondRock Hospitality in a report on Monday, May 23rd. They set a “neutral” rating and a $9.50 target price for the company. Finally, TheStreet upgraded DiamondRock Hospitality from a “hold” rating to a “buy” rating in a report on Tuesday, July 19th.
Shares of DiamondRock Hospitality (NYSE:DRH) traded up 0.33% during trading on Tuesday, hitting $9.21. The company had a trading volume of 1,374,511 shares. The firm has a 50 day moving average of $10.02 and a 200 day moving average of $9.53. The stock has a market cap of $1.85 billion, a PE ratio of 16.75 and a beta of 1.47. DiamondRock Hospitality has a 12-month low of $7.28 and a 12-month high of $12.84.
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DiamondRock Hospitality (NYSE:DRH) last released its earnings results on Friday, August 5th. The real estate investment trust reported $0.31 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.32 by $0.01. The firm had revenue of $256.66 million for the quarter, compared to the consensus estimate of $259.26 million. DiamondRock Hospitality had a return on equity of 6.24% and a net margin of 11.80%. DiamondRock Hospitality’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same quarter last year, the company posted $0.31 EPS. On average, analysts forecast that DiamondRock Hospitality will post $1.02 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 12th. Investors of record on Friday, September 30th will be paid a $0.125 dividend. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $0.50 annualized dividend and a yield of 5.45%. DiamondRock Hospitality’s dividend payout ratio (DPR) is currently 89.29%.
Large investors have recently modified their holdings of the stock. Royce & Associates LP purchased a new stake in shares of DiamondRock Hospitality during the first quarter valued at about $1,012,000. Brookfield Asset Management Inc. purchased a new stake in shares of DiamondRock Hospitality during the first quarter valued at about $43,674,000. Landscape Capital Management L.L.C. increased its stake in shares of DiamondRock Hospitality by 320.7% in the first quarter. Landscape Capital Management L.L.C. now owns 629,920 shares of the real estate investment trust’s stock valued at $6,375,000 after buying an additional 480,184 shares during the period. BlackRock Japan Co. Ltd increased its stake in shares of DiamondRock Hospitality by 3.3% in the first quarter. BlackRock Japan Co. Ltd now owns 11,768 shares of the real estate investment trust’s stock valued at $119,000 after buying an additional 372 shares during the period. Finally, BlackRock Institutional Trust Company N.A. increased its stake in shares of DiamondRock Hospitality by 0.4% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 8,369,870 shares of the real estate investment trust’s stock valued at $84,703,000 after buying an additional 30,369 shares during the period.
About DiamondRock Hospitality
DiamondRock Hospitality Company is a lodging-focused Maryland corporation operating as a real estate investment trust (REIT). The Company owns a portfolio of approximately 30 hotels and resorts throughout North America and the United States Virgin Islands that consists of over 10,925 guest rooms. Its primary business is to acquire, own, asset manage and renovate full-service hotel properties in the United States.
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