Diamondrock Hospitality Company (NYSE:DRH) Stock Rating Upgraded by Raymond James Financial, Inc.

Raymond James Financial, Inc. upgraded shares of Diamondrock Hospitality Company (NYSE:DRH) from a market perform rating to an outperform rating in a research report released on Friday, July 14th, MarketBeat Ratings reports. Raymond James Financial, Inc. currently has $13.00 target price on the real estate investment trust’s stock.

A number of other equities research analysts also recently weighed in on DRH. Zacks Investment Research upgraded Diamondrock Hospitality from a hold rating to a buy rating and set a $13.00 target price for the company in a research report on Monday, July 10th. UBS AG upgraded Diamondrock Hospitality from a market perform rating to an outperform rating in a research report on Friday, July 14th. Canaccord Genuity restated a buy rating and issued a $13.00 target price on shares of Diamondrock Hospitality in a research report on Friday, May 5th. BidaskClub upgraded Diamondrock Hospitality from a hold rating to a buy rating in a research report on Wednesday, June 14th. Finally, Boenning Scattergood restated an underperform rating and issued a $10.00 target price on shares of Diamondrock Hospitality in a research report on Tuesday, April 18th. Four investment analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the stock. The company currently has an average rating of Hold and a consensus price target of $11.56.

Diamondrock Hospitality (DRH) traded up 0.60% during trading on Friday, reaching $11.69. The company had a trading volume of 1,295,190 shares. The firm has a market capitalization of $2.34 billion, a P/E ratio of 22.06 and a beta of 1.37. Diamondrock Hospitality has a 52-week low of $8.73 and a 52-week high of $12.08. The company has a 50-day moving average of $11.51 and a 200-day moving average of $11.23.

Diamondrock Hospitality (NYSE:DRH) last released its earnings results on Friday, May 5th. The real estate investment trust reported $0.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.01. The firm had revenue of $196.21 million during the quarter, compared to the consensus estimate of $192.85 million. Diamondrock Hospitality had a return on equity of 5.83% and a net margin of 12.15%. The firm’s revenue for the quarter was down 7.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.21 earnings per share. Analysts expect that Diamondrock Hospitality will post $0.49 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 12th. Stockholders of record on Friday, June 30th were issued a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 4.28%. The ex-dividend date was Wednesday, June 28th. Diamondrock Hospitality’s dividend payout ratio is currently 94.34%.

A number of large investors have recently modified their holdings of DRH. World Asset Management Inc increased its stake in shares of Diamondrock Hospitality by 0.9% in the first quarter. World Asset Management Inc now owns 12,765 shares of the real estate investment trust’s stock valued at $142,000 after buying an additional 108 shares during the last quarter. Ronald Blue & Co. LLC increased its stake in Diamondrock Hospitality by 1.0% in the second quarter. Ronald Blue & Co. LLC now owns 11,203 shares of the real estate investment trust’s stock worth $123,000 after buying an additional 116 shares in the last quarter. Municipal Employees Retirement System of Michigan increased its stake in Diamondrock Hospitality by 0.6% in the second quarter. Municipal Employees Retirement System of Michigan now owns 54,800 shares of the real estate investment trust’s stock worth $600,000 after buying an additional 320 shares in the last quarter. Meadow Creek Investment Management LLC boosted its position in shares of Diamondrock Hospitality by 6.3% in the first quarter. Meadow Creek Investment Management LLC now owns 10,892 shares of the real estate investment trust’s stock valued at $122,000 after buying an additional 644 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Diamondrock Hospitality by 5.7% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,706 shares of the real estate investment trust’s stock valued at $153,000 after buying an additional 741 shares during the last quarter.

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.