DiamondRock Hospitality Co. (DRH) Given New $10.00 Price Target at Citigroup Inc.
DiamondRock Hospitality Co. (NYSE:DRH) had its price objective raised by Citigroup Inc. from $9.00 to $10.00 in a report issued on Wednesday. The brokerage presently has a “neutral” rating on the real estate investment trust’s stock. Citigroup Inc.’s target price would indicate a potential upside of 11.61% from the company’s current price.
Other equities analysts have also issued research reports about the stock. Deutsche Bank AG reaffirmed a “hold” rating and set a $11.00 price objective on shares of DiamondRock Hospitality in a research report on Sunday, June 26th. Canaccord Genuity reaffirmed a “buy” rating and set a $12.00 price objective on shares of DiamondRock Hospitality in a research report on Tuesday, August 16th. Zacks Investment Research raised shares of DiamondRock Hospitality from a “sell” rating to a “hold” rating in a research report on Tuesday, September 13th. Barclays PLC reaffirmed a “buy” rating and set a $11.00 price objective on shares of DiamondRock Hospitality in a research report on Thursday, August 11th. Finally, TheStreet raised shares of DiamondRock Hospitality from a “hold” rating to a “buy” rating in a research report on Tuesday, July 19th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $10.91.
Shares of DiamondRock Hospitality (NYSE:DRH) opened at 8.96 on Wednesday. DiamondRock Hospitality has a 52 week low of $7.28 and a 52 week high of $12.84. The firm has a market capitalization of $1.80 billion, a price-to-earnings ratio of 16.29 and a beta of 1.53. The company’s 50-day moving average is $9.70 and its 200 day moving average is $9.50.
DiamondRock Hospitality (NYSE:DRH) last issued its quarterly earnings data on Friday, August 5th. The real estate investment trust reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.32 by $0.01. The business had revenue of $256.66 million for the quarter, compared to the consensus estimate of $259.26 million. DiamondRock Hospitality had a net margin of 11.80% and a return on equity of 6.24%. DiamondRock Hospitality’s revenue was up 2.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.31 EPS. Analysts anticipate that DiamondRock Hospitality will post $1.02 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 12th. Investors of record on Friday, September 30th will be given a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 5.58%. The ex-dividend date is Wednesday, September 28th. DiamondRock Hospitality’s dividend payout ratio (DPR) is currently 89.29%.
Large investors have recently bought and sold shares of the company. State Street Corp increased its stake in DiamondRock Hospitality by 4.8% in the first quarter. State Street Corp now owns 6,998,326 shares of the real estate investment trust’s stock worth $70,820,000 after buying an additional 317,694 shares in the last quarter. First Trust Advisors LP increased its stake in DiamondRock Hospitality by 20.0% in the second quarter. First Trust Advisors LP now owns 796,227 shares of the real estate investment trust’s stock worth $7,190,000 after buying an additional 132,484 shares in the last quarter. Hancock Holding Co. acquired a new stake in DiamondRock Hospitality during the first quarter worth $103,000. Goldman Sachs Group Inc. increased its stake in DiamondRock Hospitality by 36.1% in the first quarter. Goldman Sachs Group Inc. now owns 1,188,733 shares of the real estate investment trust’s stock worth $12,030,000 after buying an additional 315,619 shares in the last quarter. Finally, Squarepoint Ops LLC acquired a new stake in DiamondRock Hospitality during the first quarter worth $564,000.
About DiamondRock Hospitality
DiamondRock Hospitality Company is a lodging-focused Maryland corporation operating as a real estate investment trust (REIT). The Company owns a portfolio of approximately 30 hotels and resorts throughout North America and the United States Virgin Islands that consists of over 10,925 guest rooms. Its primary business is to acquire, own, asset manage and renovate full-service hotel properties in the United States.
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