DiamondRock Hospitality (NYSE:DRH) Cut to Sell at StockNews.com

DiamondRock Hospitality (NYSE:DRH) was downgraded by research analysts at StockNews.com from a “hold” rating to a “sell” rating in a report issued on Monday.

Several other equities analysts have also issued reports on the stock. Truist Financial decreased their price target on shares of DiamondRock Hospitality from $11.00 to $10.00 and set a “hold” rating for the company in a report on Wednesday, September 4th. Compass Point raised shares of DiamondRock Hospitality from a “neutral” rating to a “buy” rating and set a $10.00 price target for the company in a report on Monday, August 5th. Finally, Wells Fargo & Company reduced their target price on shares of DiamondRock Hospitality from $9.50 to $9.00 and set an “equal weight” rating for the company in a research note on Friday, September 13th. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $9.92.

DiamondRock Hospitality Trading Up 1.2 %

Shares of DRH stock traded up $0.10 on Monday, hitting $8.70. The stock had a trading volume of 1,452,561 shares, compared to its average volume of 1,865,845. DiamondRock Hospitality has a twelve month low of $7.74 and a twelve month high of $9.99. The firm has a market cap of $1.80 billion, a P/E ratio of 30.00, a PEG ratio of 5.03 and a beta of 1.60. The company has a current ratio of 2.03, a quick ratio of 2.03 and a debt-to-equity ratio of 0.71. The company has a fifty day moving average price of $8.75 and a two-hundred day moving average price of $8.53.

DiamondRock Hospitality (NYSE:DRH) last announced its quarterly earnings results on Thursday, August 1st. The real estate investment trust reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.22). DiamondRock Hospitality had a net margin of 6.43% and a return on equity of 4.31%. The firm had revenue of $309.28 million during the quarter, compared to analyst estimates of $301.77 million. During the same period last year, the firm earned $0.32 EPS. DiamondRock Hospitality’s quarterly revenue was up 6.2% on a year-over-year basis. As a group, analysts forecast that DiamondRock Hospitality will post 0.98 earnings per share for the current fiscal year.

Hedge Funds Weigh In On DiamondRock Hospitality

Several hedge funds have recently modified their holdings of DRH. Allspring Global Investments Holdings LLC grew its holdings in shares of 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 valued at $444,000 after acquiring an additional 3,897 shares in the last quarter. BNP Paribas Financial Markets grew its holdings in shares of 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 acquiring an additional 12,194 shares in the last quarter. Daiwa Securities Group Inc. grew its holdings in shares of DiamondRock Hospitality by 7.0% in the 1st quarter. Daiwa Securities Group Inc. now owns 68,151 shares of the real estate investment trust’s stock valued at $655,000 after acquiring an additional 4,475 shares in the last quarter. Texas Permanent School Fund Corp lifted its stake in DiamondRock Hospitality by 7.1% in the 1st quarter. Texas Permanent School Fund Corp now owns 183,463 shares of the real estate investment trust’s stock valued at $1,763,000 after purchasing an additional 12,143 shares during the last quarter. Finally, Quantbot Technologies LP acquired a new stake in DiamondRock Hospitality in the 1st quarter valued at about $294,000.

DiamondRock Hospitality Company Profile

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.