Morgan Stanley lowered shares of DiamondRock Hospitality Co. (NYSE:DRH) from an equal weight rating to an underweight rating in a report issued on Monday. Morgan Stanley currently has $8.00 price objective on the real estate investment trust’s stock, down from their prior price objective of $10.00.
Other equities analysts also recently issued reports about the stock. Canaccord Genuity reaffirmed a buy rating and set a $12.00 price objective on shares of DiamondRock Hospitality in a report on Tuesday, August 16th. Barclays PLC reaffirmed a buy rating and set a $11.00 price objective on shares of DiamondRock Hospitality in a report on Thursday, August 11th. TheStreet raised shares of DiamondRock Hospitality from a hold rating to a buy rating in a report on Tuesday, July 19th. Zacks Investment Research raised shares of DiamondRock Hospitality from a sell rating to a hold rating in a report on Tuesday, September 13th. Finally, Deutsche Bank AG reaffirmed a hold rating and set a $11.00 price objective on shares of DiamondRock Hospitality in a report on Sunday, June 26th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company. The stock presently has an average rating of Hold and an average target price of $11.09.
DiamondRock Hospitality (NYSE:DRH) opened at 8.99 on Monday. The company’s 50-day moving average is $9.96 and its 200-day moving average is $9.52. DiamondRock Hospitality has a 52-week low of $7.28 and a 52-week high of $12.84. The company has a market capitalization of $1.81 billion, a price-to-earnings ratio of 16.35 and a beta of 1.47.
DiamondRock Hospitality (NYSE:DRH) last posted its quarterly earnings data on Friday, August 5th. The real estate investment trust reported $0.31 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.32 by $0.01. The firm had revenue of $256.66 million for the quarter, compared to analysts’ expectations of $259.26 million. DiamondRock Hospitality had a return on equity of 6.24% and a net margin of 11.80%. DiamondRock Hospitality’s revenue was up 2.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.31 earnings per share. On average, analysts expect that DiamondRock Hospitality will post $1.02 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 12th. Investors of record on Friday, September 30th will be paid a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 5.55%. The ex-dividend date of this dividend is Wednesday, September 28th. DiamondRock Hospitality’s dividend payout ratio is currently 89.29%.
Large investors have recently made changes to their positions in the stock. Hancock Holding Co. bought a new stake in shares of DiamondRock Hospitality during the first quarter valued at $103,000. Boothbay Fund Management LLC boosted its stake in shares of DiamondRock Hospitality by 6.1% in the first quarter. Boothbay Fund Management LLC now owns 10,983 shares of the real estate investment trust’s stock valued at $111,000 after buying an additional 636 shares in the last quarter. Genesee Valley Trust Co. boosted its stake in shares of DiamondRock Hospitality by 7.3% in the second quarter. Genesee Valley Trust Co. now owns 11,102 shares of the real estate investment trust’s stock valued at $100,000 after buying an additional 755 shares in the last quarter. BlackRock Japan Co. Ltd boosted its stake in shares of DiamondRock Hospitality by 3.3% in the first quarter. BlackRock Japan Co. Ltd now owns 11,768 shares of the real estate investment trust’s stock valued at $119,000 after buying an additional 372 shares in the last quarter. Finally, Fuller & Thaler Asset Management Inc. bought a new stake in shares of DiamondRock Hospitality during the second quarter valued at $107,000.
DiamondRock Hospitality Company Profile
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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