Diamondrock Hospitality Company (DRH) Upgraded to “Buy” by Zacks Investment Research

Zacks Investment Research upgraded shares of Diamondrock Hospitality Company (NYSE:DRH) from a hold rating to a buy rating in a research report released on Friday, May 12th. The brokerage currently has $12.00 price objective on the real estate investment trust’s stock.

According to Zacks, “DiamondRock Hospitality Company is a self-advised real estate company that owns, acquires and invests in upper upscale and upscale hotel properties located primarily in North America. To a lesser extent, it may invest, on a selective basis, in premium limited-service and extended-stay hotel properties in urban locations. The Company has a strategic acquisition sourcing relationship with Marriott International. “

A number of other research analysts have also commented on DRH. Canaccord Genuity reiterated a buy rating and set a $13.00 price objective on shares of Diamondrock Hospitality Company in a research note on Thursday, January 19th. Barclays PLC restated a buy rating and set a $12.00 target price on shares of Diamondrock Hospitality Company in a report on Tuesday, February 14th. Evercore ISI lowered shares of Diamondrock Hospitality Company from a hold rating to an underperform rating in a research note on Friday, March 3rd. Goldman Sachs Group, Inc. (The) began coverage on shares of Diamondrock Hospitality Company in a research note on Monday, April 10th. They issued a neutral rating and a $11.00 price objective for the company. Finally, Boenning Scattergood reissued an underperform rating on shares of Diamondrock Hospitality Company 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 five have issued a buy rating to the stock. The stock has a consensus rating of Hold and an average price target of $11.25.

Shares of Diamondrock Hospitality Company (NYSE:DRH) traded up 0.96% during mid-day trading on Friday, hitting $11.57. The stock had a trading volume of 2,236,121 shares. The firm has a market cap of $2.32 billion, a PE ratio of 21.83 and a beta of 1.35. Diamondrock Hospitality Company has a 52-week low of $8.57 and a 52-week high of $12.00. The firm has a 50 day moving average price of $11.13 and a 200 day moving average price of $11.18.

Diamondrock Hospitality Company (NYSE:DRH) last announced its quarterly earnings results on Friday, May 5th. The real estate investment trust reported $0.18 EPS for the quarter, beating the consensus estimate of $0.17 by $0.01. Diamondrock Hospitality Company had a net margin of 12.15% and a return on equity of 5.83%. The company had revenue of $196.21 million for the quarter, compared to analyst estimates of $192.85 million. During the same quarter last year, the business earned $0.21 earnings per share. Diamondrock Hospitality Company’s revenue was down 7.9% compared to the same quarter last year. Equities analysts predict that Diamondrock Hospitality Company will post $0.49 EPS for the current year.

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The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 12th. Stockholders of record on Friday, June 30th will be issued a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 4.32%. The ex-dividend date of this dividend is Wednesday, June 28th. Diamondrock Hospitality Company’s dividend payout ratio (DPR) is presently 94.34%.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. World Asset Management Inc boosted its position in shares of Diamondrock Hospitality Company 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 boosted its position in shares of Diamondrock Hospitality Company by 4.6% in the first quarter. Ronald Blue & Co. LLC now owns 11,087 shares of the real estate investment trust’s stock valued at $124,000 after buying an additional 483 shares during the last quarter. Meadow Creek Investment Management LLC boosted its position in shares of Diamondrock Hospitality Company by 6.3% in the first quarter. Meadow Creek Investment Management LLC now owns 10,892 shares of the real estate investment trust’s stock valued at $122,000 after buying an additional 644 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Diamondrock Hospitality Company by 5.7% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,706 shares of the real estate investment trust’s stock valued at $153,000 after buying an additional 741 shares during the last quarter. Finally, Glen Harbor Capital Management LLC boosted its position in shares of Diamondrock Hospitality Company by 6.3% in the first quarter. Glen Harbor Capital Management LLC now owns 13,226 shares of the real estate investment trust’s stock valued at $148,000 after buying an additional 782 shares during the last quarter.

Diamondrock Hospitality Company 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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