DiamondRock Hospitality (NYSE:DRH) Receives Average Recommendation of “Hold” from Brokerages

Shares of DiamondRock Hospitality (NYSE:DRH) have been given an average rating of “Hold” by the ten ratings firms that are currently covering the company, Marketbeat reports. Four research analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $9.50.

Several research firms recently commented on DRH. Wells Fargo & Co raised shares of DiamondRock Hospitality from a “market perform” rating to an “outperform” rating and set a $11.00 price objective on the stock in a research note on Thursday, November 21st. Barclays reaffirmed a “hold” rating and set a $10.00 target price on shares of DiamondRock Hospitality in a research note on Tuesday, August 13th. Finally, ValuEngine lowered shares of DiamondRock Hospitality from a “hold” rating to a “sell” rating in a report on Wednesday, November 6th.

Shares of DiamondRock Hospitality stock traded up $0.17 during trading on Friday, hitting $10.48. The company’s stock had a trading volume of 1,877,715 shares, compared to its average volume of 2,284,071. DiamondRock Hospitality has a 52 week low of $8.69 and a 52 week high of $11.22. The company has a market capitalization of $2.06 billion, a PE ratio of 10.26, a P/E/G ratio of 1.99 and a beta of 1.34. The company has a fifty day simple moving average of $10.14 and a two-hundred day simple moving average of $10.02. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.25 and a current ratio of 1.25.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. First Trust Advisors LP raised its position in shares of DiamondRock Hospitality by 172.9% in the 1st quarter. First Trust Advisors LP now owns 482,130 shares of the real estate investment trust’s stock worth $5,221,000 after purchasing an additional 305,470 shares during the last quarter. Oregon Public Employees Retirement Fund increased its stake in DiamondRock Hospitality by 1.7% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 81,927 shares of the real estate investment trust’s stock valued at $847,000 after purchasing an additional 1,400 shares in the last quarter. Arizona State Retirement System increased its stake in DiamondRock Hospitality by 0.6% during the 2nd quarter. Arizona State Retirement System now owns 312,489 shares of the real estate investment trust’s stock valued at $3,231,000 after purchasing an additional 1,813 shares in the last quarter. Moody Aldrich Partners LLC bought a new stake in DiamondRock Hospitality during the 2nd quarter valued at about $110,000. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its holdings in DiamondRock Hospitality by 81.6% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 238,781 shares of the real estate investment trust’s stock worth $2,469,000 after buying an additional 107,323 shares during the last quarter.

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 top gateway markets and destination resort locations. The Company owns 31 premium quality hotels with over 10,000 rooms. The Company has strategically positioned its hotels to be operated both under leading global brand families such as Hilton and Marriott as well as unique boutique hotels in the lifestyle segment.

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Analyst Recommendations for DiamondRock Hospitality (NYSE:DRH)

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