Diamondrock Hospitality Company (NYSE:DRH) Raised to Outperform at ING Group

ING Group upgraded shares of Diamondrock Hospitality Company (NYSE:DRH) to an outperform rating in a research report released on Monday, July 17th, The Fly reports. The firm currently has $13.00 target price on the real estate investment trust’s stock. The analysts noted that the move was a valuation call.

Other analysts have also issued reports about the company. Canaccord Genuity reiterated a buy rating and issued a $13.00 price objective on shares of Diamondrock Hospitality in a research report on Monday, May 15th. Stifel Nicolaus upgraded Diamondrock Hospitality from a hold rating to a buy rating and raised their target price for the stock from $11.50 to $11.75 in a report on Monday, May 15th. They noted that the move was a valuation call. Zacks Investment Research upgraded Diamondrock Hospitality from a hold rating to a buy rating and set a $12.00 price objective on the stock in a report on Friday, May 12th. Finally, BidaskClub upgraded Diamondrock Hospitality from a hold rating to a buy rating in a report on Wednesday, June 14th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average price target of $11.56.

Diamondrock Hospitality (NYSE:DRH) opened at 11.62 on Monday. Diamondrock Hospitality has a one year low of $8.73 and a one year high of $12.07. The firm has a market capitalization of $2.33 billion, a price-to-earnings ratio of 21.92 and a beta of 1.38. The stock has a 50 day moving average of $11.53 and a 200 day moving average of $11.24.

Diamondrock Hospitality (NYSE:DRH) last announced its quarterly earnings data on Friday, May 5th. The real estate investment trust reported $0.18 EPS for the quarter, topping the Zacks’ consensus estimate of $0.17 by $0.01. The firm had revenue of $196.21 million during the quarter, compared to analyst estimates of $192.85 million. Diamondrock Hospitality had a return on equity of 5.83% and a net margin of 12.15%. The company’s revenue was down 7.9% on a year-over-year basis. During the same period last year, the company earned $0.21 earnings per share. Analysts forecast that Diamondrock Hospitality will post $0.49 earnings per share for the current year.

TRADEMARK VIOLATION NOTICE: This report was originally published by [[site]] and is the sole property of of [[site]]. If you are accessing this report on another publication, it was stolen and republished in violation of United States & international copyright & trademark laws. The original version of this report can be viewed at [[permalink]].

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 12th. Investors of record on Friday, June 30th were given a dividend of $0.125 per share. The ex-dividend date was Wednesday, June 28th. This represents a $0.50 annualized dividend and a dividend yield of 4.30%. Diamondrock Hospitality’s dividend payout ratio is currently 94.34%.

A number of institutional investors have recently modified their holdings of DRH. World Asset Management Inc boosted its position 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 worth $142,000 after buying an additional 108 shares during the last quarter. Ronald Blue & Co. LLC boosted its position in shares of 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 during the last quarter. Municipal Employees Retirement System of Michigan boosted its position in shares of 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 during 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 worth $122,000 after buying an additional 644 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake 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.

Diamondrock Hospitality Company Profile

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.