Diamondrock Hospitality Company (NYSE:DRH) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors 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. “

A number of other brokerages have also recently commented on DRH. Boenning Scattergood restated a “sell” rating and set a $10.00 price target on shares of Diamondrock Hospitality in a research note on Wednesday, November 8th. TheStreet cut shares of Diamondrock Hospitality from a “b” rating to a “c+” rating in a research note on Monday, November 6th. Stifel Nicolaus restated a “buy” rating on shares of Diamondrock Hospitality in a research note on Thursday, August 10th. Robert W. Baird restated a “buy” rating and set a $12.00 price target on shares of Diamondrock Hospitality in a research note on Friday. Finally, BidaskClub upgraded shares of Diamondrock Hospitality from a “sell” rating to a “hold” rating in a research note on Thursday, August 3rd. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $12.00.

Shares of Diamondrock Hospitality (NYSE:DRH) traded down $0.21 during trading hours on Tuesday, hitting $11.14. The stock had a trading volume of 1,779,800 shares, compared to its average volume of 2,248,032. The firm has a market capitalization of $2,220.00, a P/E ratio of 11.46, a P/E/G ratio of 2.34 and a beta of 1.33. Diamondrock Hospitality has a 12 month low of $9.93 and a 12 month high of $12.07. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 0.51.

Diamondrock Hospitality (NYSE:DRH) last released its earnings results on Monday, November 6th. The real estate investment trust reported $0.25 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.25. Diamondrock Hospitality had a return on equity of 4.97% and a net margin of 10.47%. The business had revenue of $223.50 million for the quarter, compared to the consensus estimate of $223.30 million. During the same period last year, the business earned $0.26 earnings per share. The firm’s revenue for the quarter was up 1.5% compared to the same quarter last year. research analysts predict that Diamondrock Hospitality will post 0.97 EPS for the current fiscal year.

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Several institutional investors have recently modified their holdings of the stock. State of Tennessee Treasury Department acquired a new stake in Diamondrock Hospitality during the 4th quarter worth $1,499,000. State Street Corp grew its holdings in shares of Diamondrock Hospitality by 4.8% in the 1st quarter. State Street Corp now owns 6,998,326 shares of the real estate investment trust’s stock valued at $70,820,000 after buying an additional 317,694 shares during the period. BlackRock Fund Advisors grew its holdings in shares of Diamondrock Hospitality by 11.1% in the 3rd quarter. BlackRock Fund Advisors now owns 15,487,667 shares of the real estate investment trust’s stock valued at $140,938,000 after buying an additional 1,542,270 shares during the period. First Trust Advisors LP grew its holdings in shares of Diamondrock Hospitality by 20.0% in the 2nd quarter. First Trust Advisors LP now owns 796,227 shares of the real estate investment trust’s stock valued at $7,190,000 after buying an additional 132,484 shares during the period. Finally, BlackRock Investment Management LLC grew its holdings in shares of Diamondrock Hospitality by 0.5% in the 3rd quarter. BlackRock Investment Management LLC now owns 919,202 shares of the real estate investment trust’s stock valued at $8,365,000 after buying an additional 4,213 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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Analyst Recommendations for Diamondrock Hospitality (NYSE:DRH)

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