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. “
Several other analysts have also recently weighed in on DRH. Deutsche Bank restated a hold rating and set a $6.00 price target on shares of DiamondRock Hospitality in a report on Monday, May 18th. Stifel Nicolaus reduced their target price on DiamondRock Hospitality from $12.00 to $7.00 and set a buy rating on the stock in a report on Tuesday, March 17th. ValuEngine upgraded DiamondRock Hospitality from a sell rating to a hold rating in a report on Monday, June 1st. Morgan Stanley cut their price target on DiamondRock Hospitality from $6.00 to $5.00 and set an underweight rating on the stock in a report on Friday, May 15th. Finally, Wells Fargo & Co reaffirmed a hold rating on shares of DiamondRock Hospitality in a research report on Tuesday, June 9th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the stock. DiamondRock Hospitality presently has a consensus rating of Hold and a consensus price target of $5.53.
DiamondRock Hospitality (NYSE:DRH) last released its earnings results on Monday, May 11th. The real estate investment trust reported ($0.17) earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.23). DiamondRock Hospitality had a return on equity of 7.53% and a net margin of 15.46%. The business had revenue of $170.00 million for the quarter, compared to the consensus estimate of $161.32 million. During the same quarter in the previous year, the company earned $0.21 earnings per share. The firm’s revenue for the quarter was down 16.0% on a year-over-year basis. On average, sell-side analysts anticipate that DiamondRock Hospitality will post -0.09 EPS for the current fiscal year.
Several institutional investors have recently made changes to their positions in the company. State Street Corp increased its position in shares of DiamondRock Hospitality by 14.0% during the 1st quarter. State Street Corp now owns 11,653,143 shares of the real estate investment trust’s stock valued at $59,198,000 after purchasing an additional 1,431,990 shares during the last quarter. Royal Bank of Canada increased its position in shares of DiamondRock Hospitality by 0.8% during the 1st quarter. Royal Bank of Canada now owns 1,114,196 shares of the real estate investment trust’s stock valued at $5,660,000 after purchasing an additional 9,316 shares during the last quarter. State of Tennessee Treasury Department increased its position in shares of DiamondRock Hospitality by 4.9% during the 1st quarter. State of Tennessee Treasury Department now owns 135,833 shares of the real estate investment trust’s stock valued at $690,000 after purchasing an additional 6,330 shares during the last quarter. Northwood Liquid Management LP purchased a new stake in shares of DiamondRock Hospitality during the 1st quarter valued at $703,000. Finally, Voloridge Investment Management LLC purchased a new stake in shares of DiamondRock Hospitality during the 1st quarter valued at $340,000.
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 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.
Further Reading: Net Income
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