Diamondrock Hospitality Company (DRH) Downgraded by Zacks Investment Research
Diamondrock Hospitality Company (NYSE:DRH) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Tuesday.
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. “
Other research analysts also recently issued reports about the stock. Stifel Nicolaus restated a “buy” rating and issued a $12.00 target price on shares of Diamondrock Hospitality in a research note on Thursday, September 21st. Robert W. Baird set a $12.00 target price on shares of Diamondrock Hospitality and gave the company a “buy” rating in a research note on Sunday, September 10th. Canaccord Genuity restated a “buy” rating and issued a $13.00 target price on shares of Diamondrock Hospitality in a research note on Monday, August 7th. BidaskClub upgraded shares of Diamondrock Hospitality from a “sell” rating to a “hold” rating in a research note on Thursday, August 3rd. Finally, KeyCorp restated a “hold” rating on shares of Diamondrock Hospitality in a research note on Tuesday, October 24th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the company. Diamondrock Hospitality has an average rating of “Hold” and a consensus target price of $12.00.
Diamondrock Hospitality (NYSE DRH) traded up 1.21% during trading on Tuesday, hitting $10.86. 1,630,294 shares of the company were exchanged. Diamondrock Hospitality has a 12 month low of $8.73 and a 12 month high of $12.07. The company has a market capitalization of $2.18 billion, a price-to-earnings ratio of 21.98 and a beta of 1.40. The company has a 50-day moving average of $10.89 and a 200-day moving average of $11.14.
Diamondrock Hospitality (NYSE:DRH) last released its quarterly earnings data on Monday, August 7th. The real estate investment trust reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.01. Diamondrock Hospitality had a net margin of 11.47% and a return on equity of 5.41%. The company had revenue of $243.30 million during the quarter, compared to the consensus estimate of $240.73 million. During the same period in the previous year, the firm earned $0.31 earnings per share. Diamondrock Hospitality’s revenue for the quarter was up 1.2% on a year-over-year basis. Analysts forecast that Diamondrock Hospitality will post $0.45 EPS for the current year.
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In related news, Director Maureen L. Mcavey sold 6,000 shares of the company’s stock in a transaction on Monday, August 14th. The shares were sold at an average price of $11.20, for a total value of $67,200.00. Following the sale, the director now directly owns 81,030 shares of the company’s stock, valued at $907,536. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.10% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Hancock Holding Co. acquired a new stake in Diamondrock Hospitality in the first quarter valued at $103,000. Meeder Asset Management Inc. acquired a new stake in shares of Diamondrock Hospitality during the first quarter worth $116,000. CAMG Solamere Management LLC acquired a new stake in shares of Diamondrock Hospitality during the fourth quarter worth $122,000. Meadow Creek Investment Management LLC raised its holdings in shares of Diamondrock Hospitality by 6.3% during the first quarter. Meadow Creek Investment Management LLC now owns 10,892 shares of the real estate investment trust’s stock worth $122,000 after purchasing an additional 644 shares during the period. Finally, Ladenburg Thalmann Financial Services Inc. raised its holdings in shares of Diamondrock Hospitality by 217.4% during the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 10,950 shares of the real estate investment trust’s stock worth $126,000 after purchasing an additional 7,500 shares during the period.
About Diamondrock Hospitality
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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