Diamondrock Hospitality Company (NYSE:DRH) received a $12.00 target price from stock analysts at Robert W. Baird in a report released on Sunday. The firm presently has a “buy” rating on the real estate investment trust’s stock. Robert W. Baird’s price objective indicates a potential upside of 12.36% from the stock’s previous close.
DRH has been the subject of several other reports. Zacks Investment Research downgraded Diamondrock Hospitality from a “buy” rating to a “hold” rating in a research note on Tuesday, June 13th. Canaccord Genuity reaffirmed a “buy” rating and issued a $13.00 price objective on shares of Diamondrock Hospitality in a research note on Monday, August 7th. Raymond James Financial, Inc. raised Diamondrock Hospitality from a “market perform” rating to an “outperform” rating and set a $13.00 price objective for the company in a research note on Friday, July 14th. Finally, BidaskClub raised Diamondrock Hospitality from a “hold” rating to a “buy” rating in a research note on Wednesday, June 14th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the company’s stock. Diamondrock Hospitality presently has an average rating of “Hold” and an average target price of $11.60.
Diamondrock Hospitality (DRH) traded up 1.12% on Friday, reaching $10.80. The company’s stock had a trading volume of 462,400 shares. Diamondrock Hospitality has a 12-month low of $8.73 and a 12-month high of $12.07. The firm has a 50-day moving average of $11.10 and a 200 day moving average of $11.15. The company has a market capitalization of $2.16 billion, a price-to-earnings ratio of 21.86 and a beta of 1.39.
Diamondrock Hospitality (NYSE:DRH) last issued its earnings results on Monday, August 7th. The real estate investment trust reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.01. Diamondrock Hospitality had a return on equity of 5.41% and a net margin of 11.47%. The business had revenue of $243.30 million during the quarter, compared to the consensus estimate of $240.73 million. During the same period in the prior year, the business posted $0.31 EPS. The company’s revenue for the quarter was up 1.2% on a year-over-year basis. On average, equities research analysts anticipate that Diamondrock Hospitality will post $0.46 EPS for the current fiscal year.
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In other Diamondrock Hospitality news, Director Maureen L. Mcavey sold 6,000 shares of the stock in a transaction on Monday, August 14th. The stock was sold at an average price of $11.20, for a total transaction of $67,200.00. Following the sale, the director now owns 81,030 shares in the company, valued at approximately $907,536. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.10% of the stock is currently owned by corporate insiders.
Large investors have recently made changes to their positions in the business. Meeder Asset Management Inc. acquired a new stake in Diamondrock Hospitality during the 1st quarter valued at $116,000. Meadow Creek Investment Management LLC grew its holdings in Diamondrock Hospitality by 6.3% during the 1st 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. Ronald Blue & Co. LLC grew its holdings in Diamondrock Hospitality by 1.0% during the 2nd quarter. Ronald Blue & Co. LLC now owns 11,203 shares of the real estate investment trust’s stock valued at $123,000 after buying an additional 116 shares during the last quarter. Piedmont Investment Advisors LLC acquired a new stake in Diamondrock Hospitality during the 1st quarter valued at $134,000. Finally, World Asset Management Inc grew its holdings in Diamondrock Hospitality by 0.9% during the 1st 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.
Diamondrock Hospitality 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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