Diamondrock Hospitality Company (DRH) Stock Rating Reaffirmed by KeyCorp
Diamondrock Hospitality Company (NYSE:DRH)‘s stock had its “hold” rating restated by equities researchers at KeyCorp in a research note issued to investors on Tuesday.
A number of other research firms also recently issued reports on DRH. ING Group upgraded Diamondrock Hospitality to an “outperform” rating and set a $13.00 price target for the company in a research note on Monday, July 17th. They noted that the move was a valuation call. BidaskClub downgraded Diamondrock Hospitality from a “buy” rating to a “hold” rating in a research note on Saturday, July 1st. UBS AG upgraded Diamondrock Hospitality from a “market perform” rating to an “outperform” rating in a research note on Friday, July 14th. Stifel Nicolaus restated a “buy” rating on shares of Diamondrock Hospitality in a research note on Thursday, August 10th. Finally, Zacks Investment Research downgraded Diamondrock Hospitality from a “buy” rating to a “hold” rating in a research note on Monday, October 16th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $12.00.
Diamondrock Hospitality (NYSE:DRH) traded up 0.38% during mid-day trading on Tuesday, reaching $10.60. 4,705,490 shares of the company were exchanged. The stock has a market capitalization of $2.12 billion, a price-to-earnings ratio of 21.46 and a beta of 1.40. Diamondrock Hospitality has a 12-month low of $8.73 and a 12-month high of $12.07. The company’s 50 day moving average price is $10.87 and its 200-day moving average price is $11.14.
Diamondrock Hospitality (NYSE:DRH) last released its quarterly earnings results on Monday, August 7th. The real estate investment trust reported $0.32 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.31 by $0.01. The business had revenue of $243.30 million during the quarter, compared to the consensus estimate of $240.73 million. Diamondrock Hospitality had a return on equity of 5.41% and a net margin of 11.47%. The business’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.31 EPS. On average, equities research analysts forecast that Diamondrock Hospitality will post $0.46 earnings per share for the current fiscal year.
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In other news, Director Maureen L. Mcavey sold 6,000 shares of Diamondrock Hospitality stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $11.20, for a total transaction of $67,200.00. Following the transaction, the director now directly owns 81,030 shares of the company’s stock, valued at approximately $907,536. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.10% of the stock is owned by insiders.
Several hedge funds have recently bought and sold shares of the company. Gerstein Fisher lifted its position in shares of Diamondrock Hospitality by 0.4% during the 3rd quarter. Gerstein Fisher now owns 23,476 shares of the real estate investment trust’s stock valued at $259,000 after buying an additional 102 shares in the last quarter. World Asset Management Inc lifted its holdings in Diamondrock Hospitality by 0.9% in the 1st quarter. World Asset Management Inc now owns 12,765 shares of the real estate investment trust’s stock worth $142,000 after purchasing an additional 108 shares in the last quarter. Ronald Blue & Co. LLC lifted its holdings in Diamondrock Hospitality by 1.0% in the 2nd quarter. Ronald Blue & Co. LLC now owns 11,203 shares of the real estate investment trust’s stock worth $123,000 after purchasing an additional 116 shares in the last quarter. Amalgamated Bank lifted its holdings in 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 in the last quarter. Finally, Municipal Employees Retirement System of Michigan lifted its holdings in 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 in 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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