DiamondRock Hospitality (NYSE:DRH) Upgraded at StockNews.com

DiamondRock Hospitality (NYSE:DRH) was upgraded by investment analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued on Friday.

DRH has been the topic of several other reports. Truist Financial lifted their target price on DiamondRock Hospitality from $10.00 to $11.00 and gave the stock a “hold” rating in a report on Thursday, March 14th. Wolfe Research assumed coverage on DiamondRock Hospitality in a report on Wednesday, January 10th. They set an “outperform” rating and a $11.00 price objective on the stock. Finally, Stifel Nicolaus increased their target price on DiamondRock Hospitality from $10.00 to $10.50 and gave the stock a “buy” rating in a research note on Friday, February 23rd. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, DiamondRock Hospitality has a consensus rating of “Hold” and an average price target of $10.30.

DiamondRock Hospitality Trading Up 0.7 %

Shares of NYSE:DRH traded up $0.06 during mid-day trading on Friday, reaching $8.83. The stock had a trading volume of 2,289,141 shares, compared to its average volume of 2,409,467. The firm has a 50 day simple moving average of $9.32 and a two-hundred day simple moving average of $9.01. DiamondRock Hospitality has a twelve month low of $7.33 and a twelve month high of $9.99. The firm has a market cap of $1.86 billion, a PE ratio of 24.53 and a beta of 1.61. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 0.71.

DiamondRock Hospitality (NYSE:DRH) last posted its earnings results on Friday, February 23rd. The real estate investment trust reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.14). DiamondRock Hospitality had a return on equity of 5.20% and a net margin of 7.86%. The firm had revenue of $263.50 million during the quarter, compared to analyst estimates of $261.45 million. During the same quarter last year, the business posted $0.23 earnings per share. The company’s revenue for the quarter was up 3.3% on a year-over-year basis. On average, research analysts predict that DiamondRock Hospitality will post 0.96 EPS for the current fiscal year.

Institutional Trading of DiamondRock Hospitality

A number of institutional investors have recently made changes to their positions in DRH. Daiwa Securities Group Inc. raised its position in DiamondRock Hospitality by 7.0% during the first quarter. Daiwa Securities Group Inc. now owns 68,151 shares of the real estate investment trust’s stock worth $655,000 after acquiring an additional 4,475 shares in the last quarter. LDR Capital Management LLC boosted its holdings in shares of DiamondRock Hospitality by 25.5% during the first quarter. LDR Capital Management LLC now owns 13,244 shares of the real estate investment trust’s stock worth $127,000 after acquiring an additional 2,692 shares during the period. BNP Paribas Financial Markets boosted its stake in DiamondRock Hospitality by 13.1% in the 1st quarter. BNP Paribas Financial Markets now owns 105,115 shares of the real estate investment trust’s stock valued at $1,010,000 after purchasing an additional 12,194 shares during the period. Allspring Global Investments Holdings LLC raised its stake in DiamondRock Hospitality by 9.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 46,240 shares of the real estate investment trust’s stock worth $444,000 after purchasing an additional 3,897 shares in the last quarter. Finally, Diversified Trust Co boosted its stake in shares of DiamondRock Hospitality by 5.4% in the first quarter. Diversified Trust Co now owns 58,147 shares of the real estate investment trust’s stock valued at $559,000 after buying an additional 2,984 shares during the period.

About DiamondRock Hospitality

DiamondRock Hospitality Company is a self-advised real estate investment trust (REIT) that is an owner of a leading portfolio of geographically diversified hotels concentrated in leisure destinations and top gateway markets. The Company currently owns 36 premium quality hotels with over 9,700 rooms. The Company has strategically positioned its portfolio to be operated both under leading global brand families as well as independent boutique hotels in the lifestyle segment.