DiamondRock Hospitality (NYSE:DRH) Stock Rating Upgraded by StockNews.com

DiamondRock Hospitality (NYSE:DRH) was upgraded by research analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued on Friday.

DRH has been the topic of a number of other reports. Wolfe Research assumed coverage on shares of DiamondRock Hospitality in a research report on Wednesday, January 10th. They issued an “outperform” rating and a $11.00 price target on the stock. Truist Financial raised their target price on shares of DiamondRock Hospitality from $10.00 to $11.00 and gave the stock a “hold” rating in a report on Thursday, March 14th. Finally, Stifel Nicolaus upped their target price on DiamondRock Hospitality from $10.00 to $10.50 and gave the company a “buy” rating in a report on Friday, February 23rd. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, DiamondRock Hospitality presently has an average rating of “Hold” and an average target price of $10.30.

DiamondRock Hospitality Stock Up 0.7 %

Shares of DiamondRock Hospitality stock traded up $0.06 on Friday, hitting $8.83. 2,289,141 shares of the company’s stock traded hands, compared to its average volume of 2,409,467. The stock has a market cap of $1.86 billion, a P/E ratio of 24.53 and a beta of 1.61. The firm’s 50-day moving average is $9.32 and its 200 day moving average is $9.01. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 0.71. DiamondRock Hospitality has a 52-week low of $7.33 and a 52-week high of $9.99.

DiamondRock Hospitality (NYSE:DRH) last posted its quarterly earnings results on Friday, February 23rd. The real estate investment trust reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.14). The firm had revenue of $263.50 million during the quarter, compared to analyst estimates of $261.45 million. DiamondRock Hospitality had a return on equity of 5.20% and a net margin of 7.86%. The firm’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter last year, the business posted $0.23 earnings per share. Equities analysts anticipate that DiamondRock Hospitality will post 0.96 earnings per share for the current year.

Institutional Trading of DiamondRock Hospitality

A number of hedge funds have recently bought and sold shares of DRH. Norges Bank purchased a new stake in shares of DiamondRock Hospitality in the fourth quarter valued at $13,301,000. Pzena Investment Management LLC increased its stake in shares of DiamondRock Hospitality by 9.1% in the third quarter. Pzena Investment Management LLC now owns 9,720,155 shares of the real estate investment trust’s stock worth $78,053,000 after acquiring an additional 810,972 shares during the last quarter. Centersquare Investment Management LLC boosted its position in DiamondRock Hospitality by 17.0% during the fourth quarter. Centersquare Investment Management LLC now owns 4,492,910 shares of the real estate investment trust’s stock valued at $42,188,000 after purchasing an additional 652,095 shares during the last quarter. Bamco Inc. NY purchased a new position in DiamondRock Hospitality in the third quarter valued at about $3,866,000. Finally, Paralel Advisors LLC acquired a new position in DiamondRock Hospitality in the 4th quarter worth about $2,352,000.

DiamondRock Hospitality Company Profile

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 leisure destinations and top gateway markets. The Company currently owns 36 premium quality hotels with over 9,700 rooms. The Company has strategically positioned its portfolio to be operated both under leading global brand families as well as independent boutique hotels in the lifestyle segment.