Boenning Scattergood Reaffirms “Sell” Rating for Diamondrock Hospitality Company (DRH)

Boenning Scattergood reissued their sell rating on shares of Diamondrock Hospitality Company (NYSE:DRH) in a research report report published on Wednesday morning. They currently have a $10.00 target price on the real estate investment trust’s stock. Boenning Scattergood also issued estimates for Diamondrock Hospitality’s Q4 2017 earnings at $0.22 EPS and FY2017 earnings at $0.96 EPS.

A number of other equities analysts have also recently issued reports on DRH. TheStreet cut Diamondrock Hospitality from a b rating to a c+ rating in a report on Monday, November 6th. Stifel Nicolaus restated a buy rating on shares of Diamondrock Hospitality in a report on Thursday, August 10th. Zacks Investment Research cut Diamondrock Hospitality from a buy rating to a hold rating in a report on Thursday, August 10th. UBS AG upgraded Diamondrock Hospitality from a market perform rating to an outperform rating in a report on Friday, July 14th. Finally, BidaskClub upgraded Diamondrock Hospitality from a sell rating to a hold rating in a report on Thursday, August 3rd. 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 stock. The stock has a consensus rating of Hold and a consensus target price of $12.00.

Diamondrock Hospitality (DRH) traded up $0.05 during midday trading on Wednesday, hitting $11.35. The stock had a trading volume of 2,041,900 shares, compared to its average volume of 2,250,180. The company has a market cap of $2,263.45, a P/E ratio of 11.41, a P/E/G ratio of 2.33 and a beta of 1.33. The company has a current ratio of 2.41, a quick ratio of 2.45 and a debt-to-equity ratio of 0.51. Diamondrock Hospitality has a 52-week low of $9.60 and a 52-week high of $12.07.

Diamondrock Hospitality (NYSE:DRH) last posted its quarterly earnings data on Monday, November 6th. The real estate investment trust reported $0.25 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.25. Diamondrock Hospitality had a return on equity of 4.97% and a net margin of 10.47%. The company had revenue of $223.50 million during the quarter, compared to analysts’ expectations of $223.30 million. During the same quarter in the previous year, the business earned $0.26 EPS. Diamondrock Hospitality’s revenue was up 1.5% compared to the same quarter last year. research analysts expect that Diamondrock Hospitality will post 0.97 EPS for the current fiscal year.

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The company also recently announced a quarterly dividend, which was paid on Thursday, October 12th. Shareholders of record on Friday, September 29th were issued a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 4.41%. The ex-dividend date of this dividend was Thursday, September 28th. Diamondrock Hospitality’s dividend payout ratio is 111.11%.

In other Diamondrock Hospitality news, Director Maureen L. Mcavey sold 6,000 shares of the company’s stock in a transaction on Monday, August 14th. The stock was sold at an average price of $11.20, for a total value of $67,200.00. Following the completion of the sale, the director now directly owns 81,030 shares in the company, valued at approximately $907,536. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.10% of the stock is currently owned by corporate insiders.

Hedge funds have recently modified their holdings of the business. Royce & Associates LP lifted its holdings in shares of Diamondrock Hospitality by 6.8% in the 2nd quarter. Royce & Associates LP now owns 390,000 shares of the real estate investment trust’s stock worth $4,270,000 after buying an additional 25,000 shares during the period. BNP Paribas Arbitrage SA lifted its stake in shares of Diamondrock Hospitality by 11.6% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 125,938 shares of the real estate investment trust’s stock worth $1,379,000 after purchasing an additional 13,102 shares during the last quarter. IndexIQ Advisors LLC lifted its stake in shares of Diamondrock Hospitality by 31.7% during the 2nd quarter. IndexIQ Advisors LLC now owns 281,727 shares of the real estate investment trust’s stock worth $3,085,000 after purchasing an additional 67,816 shares during the last quarter. Seizert Capital Partners LLC lifted its stake in shares of Diamondrock Hospitality by 48.2% during the 2nd quarter. Seizert Capital Partners LLC now owns 301,025 shares of the real estate investment trust’s stock worth $3,296,000 after purchasing an additional 97,911 shares during the last quarter. Finally, Metropolitan Life Insurance Co. NY lifted its stake in shares of Diamondrock Hospitality by 0.8% during the 1st quarter. Metropolitan Life Insurance Co. NY now owns 146,014 shares of the real estate investment trust’s stock worth $1,628,000 after purchasing an additional 1,130 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.

Analyst Recommendations for Diamondrock Hospitality (NYSE:DRH)

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