Diamondrock Hospitality Company (NYSE:DRH) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Wednesday. The brokerage currently has a $12.00 price objective on the real estate investment trust’s stock. Zacks Investment Research‘s price objective would indicate a potential upside of 9.39% from the company’s current price.

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. “

Several other research analysts also recently commented on DRH. Stifel Nicolaus reissued a “buy” rating on shares of Diamondrock Hospitality in a research note on Thursday, August 10th. UBS AG raised shares of Diamondrock Hospitality from a “market perform” rating to an “outperform” rating in a research note on Friday, July 14th. BidaskClub raised shares of Diamondrock Hospitality from a “sell” rating to a “hold” rating in a research note on Thursday, August 3rd. Canaccord Genuity reissued a “buy” rating and set a $13.00 price target on shares of Diamondrock Hospitality in a research note on Monday, August 7th. Finally, KeyCorp reissued a “hold” rating on shares of Diamondrock Hospitality in a research note on Sunday, September 24th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $12.00.

Diamondrock Hospitality (NYSE:DRH) traded down 0.45% during mid-day trading on Wednesday, hitting $10.97. 2,132,539 shares of the stock were exchanged. Diamondrock Hospitality has a 52 week low of $8.73 and a 52 week high of $12.07. The company has a market capitalization of $2.20 billion, a PE ratio of 22.21 and a beta of 1.39. The stock’s 50-day moving average is $10.84 and its 200 day moving average is $11.14.

Diamondrock Hospitality (NYSE:DRH) last posted its quarterly earnings results on Monday, August 7th. The real estate investment trust reported $0.32 EPS for the quarter, topping the consensus estimate of $0.31 by $0.01. The firm had revenue of $243.30 million for the quarter, compared to the consensus estimate of $240.73 million. Diamondrock Hospitality had a net margin of 11.47% and a return on equity of 5.41%. The business’s revenue was up 1.2% compared to the same quarter last year. During the same period last year, the firm posted $0.31 earnings per share. On average, analysts anticipate that Diamondrock Hospitality will post $0.46 EPS for the current year.

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In other news, Director Maureen L. Mcavey sold 6,000 shares of the business’s stock in a transaction on Monday, August 14th. The shares were sold at an average price of $11.20, for a total transaction of $67,200.00. Following the sale, the director now owns 81,030 shares in the company, valued at approximately $907,536. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 1.10% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. Ronald Blue & Co. LLC boosted its holdings in shares of Diamondrock Hospitality by 1.0% during the 2nd quarter. Ronald Blue & Co. LLC now owns 11,203 shares of the real estate investment trust’s stock valued at $123,000 after buying an additional 116 shares in the last quarter. Amalgamated Bank raised its position in shares of Diamondrock Hospitality by 0.6% in the 2nd quarter. Amalgamated Bank now owns 27,339 shares of the real estate investment trust’s stock worth $299,000 after purchasing an additional 151 shares during the last quarter. World Asset Management Inc raised its position in shares of Diamondrock Hospitality by 2.2% in the 2nd quarter. World Asset Management Inc now owns 13,047 shares of the real estate investment trust’s stock worth $143,000 after purchasing an additional 282 shares during the last quarter. Municipal Employees Retirement System of Michigan raised its position in shares of Diamondrock Hospitality by 0.6% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 54,800 shares of the real estate investment trust’s stock worth $600,000 after purchasing an additional 320 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its position in shares of Diamondrock Hospitality by 0.5% in the 2nd quarter. PNC Financial Services Group Inc. now owns 132,999 shares of the real estate investment trust’s stock worth $1,456,000 after purchasing an additional 605 shares during the last quarter.

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.

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Analyst Recommendations for Diamondrock Hospitality (NYSE:DRH)

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