DiamondRock Hospitality Company (NYSE:DRH) Given Consensus Recommendation of “Hold” by Brokerages

DiamondRock Hospitality Company (NYSE:DRH) has received a consensus rating of “Hold” from the seven brokerages that are covering the stock, Marketbeat.com reports. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $8.89.

A number of brokerages have recently issued reports on DRH. Wells Fargo & Company dropped their price target on shares of DiamondRock Hospitality from $10.50 to $9.50 and set an “equal weight” rating on the stock in a research note on Tuesday, February 18th. Truist Financial dropped their target price on DiamondRock Hospitality from $10.00 to $9.00 and set a “hold” rating on the stock in a research report on Friday, May 30th. Bank of America raised DiamondRock Hospitality from an “underperform” rating to a “buy” rating and set a $9.50 target price for the company in a research note on Wednesday, April 30th. Stifel Nicolaus lifted their price target on DiamondRock Hospitality from $8.00 to $8.25 and gave the company a “hold” rating in a research note on Friday, May 2nd. Finally, Evercore ISI dropped their price objective on DiamondRock Hospitality from $10.00 to $9.00 and set an “in-line” rating on the stock in a report on Monday, April 28th.

Institutional Investors Weigh In On DiamondRock Hospitality

Institutional investors have recently modified their holdings of the company. Inspire Investing LLC boosted its position in shares of DiamondRock Hospitality by 19.6% in the 1st quarter. Inspire Investing LLC now owns 52,946 shares of the real estate investment trust’s stock worth $409,000 after buying an additional 8,690 shares in the last quarter. Strs Ohio acquired a new position in DiamondRock Hospitality during the first quarter worth about $304,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of DiamondRock Hospitality by 3.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,327,841 shares of the real estate investment trust’s stock valued at $10,251,000 after purchasing an additional 48,558 shares in the last quarter. United Services Automobile Association acquired a new stake in shares of DiamondRock Hospitality in the first quarter valued at approximately $91,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of DiamondRock Hospitality in the first quarter valued at approximately $403,000.

DiamondRock Hospitality Price Performance

Shares of NYSE:DRH opened at $7.55 on Wednesday. DiamondRock Hospitality has a one year low of $6.19 and a one year high of $10.00. The stock has a market capitalization of $1.56 billion, a price-to-earnings ratio of 41.94, a PEG ratio of 1.91 and a beta of 1.34. The company has a 50-day simple moving average of $7.45 and a 200-day simple moving average of $8.19. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.62 and a current ratio of 1.62.

DiamondRock Hospitality (NYSE:DRH) last issued its quarterly earnings results on Thursday, May 1st. The real estate investment trust reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.02. DiamondRock Hospitality had a return on equity of 3.18% and a net margin of 4.57%. The firm had revenue of $254.85 million for the quarter, compared to analysts’ expectations of $256.47 million. During the same quarter in the previous year, the firm posted $0.17 EPS. The firm’s revenue for the quarter was up .5% on a year-over-year basis. On average, analysts predict that DiamondRock Hospitality will post 0.96 EPS for the current year.

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 leisure destinations and top gateway markets. The Company currently owns 36 premium quality hotels with over 9,700 rooms. The Company has strategically positioned its portfolio to be operated both under leading global brand families as well as independent boutique hotels in the lifestyle segment.