Shares of DiamondRock Hospitality (NYSE:DRH) have been assigned an average recommendation of “Hold” from the ten analysts that are currently covering the company, MarketBeat reports. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating on the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $12.05.
A number of equities analysts have issued reports on DRH shares. Zacks Investment Research upgraded shares of DiamondRock Hospitality from a “hold” rating to a “buy” rating and set a $12.00 price objective on the stock in a research report on Monday, October 15th. TheStreet cut shares of DiamondRock Hospitality from a “b-” rating to a “c” rating in a research report on Tuesday, November 6th. Wells Fargo & Co restated a “market perform” rating on shares of DiamondRock Hospitality in a research report on Thursday, November 1st. Citigroup boosted their price objective on shares of DiamondRock Hospitality from $11.00 to $12.00 and gave the company a “neutral” rating in a research report on Wednesday, August 8th. Finally, ValuEngine cut shares of DiamondRock Hospitality from a “hold” rating to a “sell” rating in a research report on Tuesday, November 6th.
Several institutional investors and hedge funds have recently made changes to their positions in DRH. Dynamic Technology Lab Private Ltd bought a new stake in shares of DiamondRock Hospitality during the 3rd quarter valued at about $119,000. Federated Investors Inc. PA boosted its stake in DiamondRock Hospitality by 469.2% during the second quarter. Federated Investors Inc. PA now owns 10,661 shares of the real estate investment trust’s stock worth $131,000 after acquiring an additional 8,788 shares in the last quarter. Canandaigua National Bank & Trust Co. bought a new stake in DiamondRock Hospitality during the third quarter worth about $132,000. Jefferies Group LLC bought a new stake in DiamondRock Hospitality during the third quarter worth about $140,000. Finally, Verition Fund Management LLC bought a new stake in DiamondRock Hospitality during the second quarter worth about $158,000.
DiamondRock Hospitality (NYSE:DRH) last issued its earnings results on Monday, November 5th. The real estate investment trust reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.12). The business had revenue of $220.81 million during the quarter, compared to analysts’ expectations of $227.40 million. DiamondRock Hospitality had a return on equity of 4.74% and a net margin of 10.45%. DiamondRock Hospitality’s revenue for the quarter was down 1.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.25 EPS. Sell-side analysts anticipate that DiamondRock Hospitality will post 1.01 EPS for the current year.
About DiamondRock Hospitality
DiamondRock Hospitality Company is a self-advised real estate investment trust (REIT) that is an owner of a leading portfolio of geographically diversified hotels concentrated in top gateway markets and destination resort locations. The Company owns 30 premium quality hotels with over 9,900 rooms. The Company has strategically positioned its hotels to be operated both under leading global brand families such as Hilton and Marriott as well as unique boutique hotels in the lifestyle segment.
See Also: Bull Market
Receive News & Ratings for DiamondRock Hospitality Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for DiamondRock Hospitality and related companies with MarketBeat.com's FREE daily email newsletter.