Diamondrock Hospitality Company (NYSE:DRH) Posts Earnings Results, Beats Expectations By $0.01 EPS
Diamondrock Hospitality Company (NYSE:DRH) announced its quarterly earnings results on Monday. The real estate investment trust reported $0.32 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.31 by $0.01, Bloomberg Earnings reports. The business had revenue of $243.30 million during the quarter, compared to the consensus estimate of $240.73 million. Diamondrock Hospitality had a net margin of 12.15% and a return on equity of 5.83%. The business’s revenue was up 1.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.31 EPS.
Shares of Diamondrock Hospitality (NYSE:DRH) remained flat at $11.62 during trading on Monday. 2,188,156 shares of the company were exchanged. The firm has a market cap of $2.33 billion, a P/E ratio of 21.92 and a beta of 1.38. The stock’s 50-day moving average is $11.53 and its 200-day moving average is $11.24. Diamondrock Hospitality has a one year low of $8.73 and a one year high of $12.07.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 12th. Shareholders of record on Friday, June 30th were given a $0.125 dividend. The ex-dividend date was Wednesday, June 28th. This represents a $0.50 annualized dividend and a yield of 4.30%. Diamondrock Hospitality’s dividend payout ratio is presently 94.34%.
A number of analysts have recently issued reports on the stock. BidaskClub upgraded shares of Diamondrock Hospitality from a “sell” rating to a “hold” rating in a report on Thursday. UBS AG raised shares of Diamondrock Hospitality from a “market perform” rating to an “outperform” rating in a research report on Friday, July 14th. Zacks Investment Research raised shares of Diamondrock Hospitality from a “hold” rating to a “buy” rating and set a $13.00 price objective for the company in a research report on Monday, July 10th. Raymond James Financial, Inc. raised shares of Diamondrock Hospitality from a “market perform” rating to an “outperform” rating and set a $13.00 price objective for the company in a research report on Friday, July 14th. Finally, Canaccord Genuity reaffirmed a “buy” rating and set a $13.00 price objective on shares of Diamondrock Hospitality in a research report on Friday, May 5th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $11.56.
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.
Receive News & Ratings for Diamondrock Hospitality Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Diamondrock Hospitality Company and related companies with MarketBeat.com's FREE daily email newsletter.