Stifel Nicolaus reissued their buy rating on shares of Diamondrock Hospitality Company (NYSE:DRH) in a research note published on Thursday morning.
A number of other research firms also recently weighed in on DRH. ING Group raised Diamondrock Hospitality to an outperform rating and set a $13.00 price target on the stock in a research note on Monday, July 17th. They noted that the move was a valuation call. BidaskClub downgraded Diamondrock Hospitality from a buy rating to a hold rating in a research note on Saturday, July 1st. UBS AG raised Diamondrock Hospitality from a market perform rating to an outperform rating in a research note on Friday, July 14th. Zacks Investment Research raised Diamondrock Hospitality from a hold rating to a buy rating and set a $13.00 price target on the stock in a research note on Thursday, June 8th. Finally, Boenning Scattergood reissued an underperform rating on shares of Diamondrock Hospitality in a research note on Wednesday, April 12th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the company’s stock. The company has an average rating of Hold and a consensus price target of $11.56.
Shares of Diamondrock Hospitality (NYSE DRH) traded up 0.64% during mid-day trading on Thursday, reaching $11.00. The company’s stock had a trading volume of 2,222,894 shares. The company has a 50 day moving average of $11.47 and a 200-day moving average of $11.23. Diamondrock Hospitality has a 12 month low of $8.73 and a 12 month high of $12.08. The firm has a market capitalization of $2.20 billion, a P/E ratio of 22.27 and a beta of 1.38.
Diamondrock Hospitality (NYSE:DRH) last posted its quarterly earnings results on Monday, August 7th. The real estate investment trust reported $0.32 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.31 by $0.01. The company had revenue of $243.30 million for the quarter, compared to the consensus estimate of $240.73 million. Diamondrock Hospitality had a return on equity of 5.41% and a net margin of 11.47%. The firm’s quarterly revenue was up 1.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.31 EPS. Equities research analysts forecast that Diamondrock Hospitality will post $0.48 EPS for the current year.
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The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 12th. Investors of record on Friday, June 30th were paid a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 4.55%. The ex-dividend date of this dividend was Wednesday, June 28th. Diamondrock Hospitality’s payout ratio is presently 102.04%.
A number of hedge funds 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 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 valued at $123,000 after buying an additional 116 shares during the last quarter. Amalgamated Bank increased its stake in shares of Diamondrock Hospitality by 0.6% in the second quarter. Amalgamated Bank now owns 27,339 shares of the real estate investment trust’s stock valued at $299,000 after buying an additional 151 shares during the last quarter. Municipal Employees Retirement System of Michigan increased its stake 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 valued at $600,000 after buying an additional 320 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its stake in shares of Diamondrock Hospitality by 0.5% in the second quarter. PNC Financial Services Group Inc. now owns 132,999 shares of the real estate investment trust’s stock valued at $1,456,000 after buying an additional 605 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.
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