Diamondrock Hospitality Company (NYSE:DRH)‘s stock had its “buy” rating reaffirmed by stock analysts at Canaccord Genuity in a report released on Monday. They currently have a $13.00 price target on the real estate investment trust’s stock. Canaccord Genuity’s target price would indicate a potential upside of 11.88% from the stock’s previous close.

The analysts wrote, “We believe the expiration of the three managed-only facility contracts was not only immaterial to earnings, but also fairly well understood. After CXW’s peer put up a 2Q miss and guidance cut this morning, we believe expectations heading into CXW’s print this evening were low.””

Several other research analysts have also recently weighed in on the stock. BidaskClub upgraded shares of Diamondrock Hospitality from a “sell” rating to a “hold” rating in a research report on Thursday. ING Group upgraded shares of Diamondrock Hospitality to an “outperform” rating and set a $13.00 price objective for the company in a research report on Monday, July 17th. They noted that the move was a valuation call. Raymond James Financial, Inc. upgraded shares of Diamondrock Hospitality from a “market perform” rating to an “outperform” rating and set a $13.00 target price for the company in a research report on Friday, July 14th. UBS AG upgraded shares of Diamondrock Hospitality from a “market perform” rating to an “outperform” rating in a research report on Friday, July 14th. Finally, Zacks Investment Research upgraded shares of Diamondrock Hospitality from a “hold” rating to a “buy” rating and set a $13.00 target price for the company in a research report on Monday, July 10th. Three research analysts have rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $11.56.

Shares of Diamondrock Hospitality (DRH) remained flat at $11.62 during mid-day trading on Monday. 2,188,156 shares of the company’s stock traded hands. The company has a market capitalization of $2.33 billion, a price-to-earnings ratio of 21.92 and a beta of 1.38. The company has a 50-day moving average price of $11.53 and a 200 day moving average price of $11.24. Diamondrock Hospitality has a 1-year low of $8.73 and a 1-year high of $12.07.

Diamondrock Hospitality (NYSE:DRH) last posted its quarterly earnings data on Monday, August 7th. The real estate investment trust reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.01. Diamondrock Hospitality had a net margin of 12.15% and a return on equity of 5.83%. The firm had revenue of $243.30 million during the quarter, compared to analysts’ expectations of $240.73 million. During the same quarter in the previous year, the company posted $0.31 EPS. Diamondrock Hospitality’s revenue was up 1.2% on a year-over-year basis. On average, equities analysts anticipate that Diamondrock Hospitality will post $0.49 earnings per share for the current year.

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Institutional investors have recently made changes to their positions in the stock. Meeder Asset Management Inc. purchased a new position in shares of Diamondrock Hospitality during the first quarter valued at about $116,000. Meadow Creek Investment Management LLC raised its position in shares of Diamondrock Hospitality by 6.3% in the first quarter. Meadow Creek Investment Management LLC now owns 10,892 shares of the real estate investment trust’s stock valued at $122,000 after buying an additional 644 shares during the period. Ronald Blue & Co. LLC raised its position in shares of Diamondrock Hospitality by 4.6% in the first quarter. Ronald Blue & Co. LLC now owns 11,087 shares of the real estate investment trust’s stock valued at $124,000 after buying an additional 483 shares during the period. Piedmont Investment Advisors LLC purchased a new position in shares of Diamondrock Hospitality during the first quarter valued at about $134,000. Finally, OLD National Bancorp IN purchased a new position in shares of Diamondrock Hospitality during the first quarter valued at about $142,000.

Diamondrock Hospitality Company Profile

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.

Analyst Recommendations for Diamondrock Hospitality (NYSE:DRH)

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