Shares of DiamondRock Hospitality (NYSE:DRH) have been given an average recommendation of “Hold” by the eleven research firms that are presently covering the company, MarketBeat.com reports. Four analysts have rated the stock with a sell recommendation, five have given a hold recommendation and one has issued a buy recommendation on the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $10.19.
A number of analysts recently commented on DRH shares. Wells Fargo & Co raised Centurylink from a “market perform” rating to an “outperform” rating and increased their price target for the company from $12.00 to $14.00 in a research report on Wednesday, June 26th. Zacks Investment Research downgraded ExlService from a “hold” rating to a “sell” rating in a research report on Wednesday. Finally, ValuEngine downgraded Zumiez from a “hold” rating to a “sell” rating in a research report on Tuesday, July 2nd.
In related news, Director Maureen L. Mcavey sold 8,000 shares of the stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $10.36, for a total transaction of $82,880.00. Following the completion of the sale, the director now directly owns 91,688 shares of the company’s stock, valued at $949,887.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.90% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Quadrant Capital Group LLC grew its holdings in DiamondRock Hospitality by 1,924.1% during the first quarter. Quadrant Capital Group LLC now owns 6,720 shares of the real estate investment trust’s stock valued at $69,000 after purchasing an additional 6,388 shares during the period. NumerixS Investment Technologies Inc grew its holdings in DiamondRock Hospitality by 184.2% during the fourth quarter. NumerixS Investment Technologies Inc now owns 10,800 shares of the real estate investment trust’s stock valued at $98,000 after purchasing an additional 7,000 shares during the period. WINTON GROUP Ltd bought a new position in DiamondRock Hospitality during the second quarter valued at $112,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in DiamondRock Hospitality during the fourth quarter valued at $99,000. Finally, Raymond James & Associates grew its holdings in DiamondRock Hospitality by 20.1% during the fourth quarter. Raymond James & Associates now owns 16,161 shares of the real estate investment trust’s stock valued at $147,000 after purchasing an additional 2,700 shares during the period.
Shares of DiamondRock Hospitality stock traded up $0.09 on Tuesday, hitting $10.17. The company had a trading volume of 910,467 shares, compared to its average volume of 1,690,093. The firm has a market capitalization of $2.05 billion, a PE ratio of 9.59, a price-to-earnings-growth ratio of 1.97 and a beta of 1.39. DiamondRock Hospitality has a 1 year low of $8.69 and a 1 year high of $12.39. The stock’s 50 day simple moving average is $10.19. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.54 and a quick ratio of 1.54.
DiamondRock Hospitality (NYSE:DRH) last issued its quarterly earnings data on Wednesday, May 8th. The real estate investment trust reported $0.04 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.14). The company had revenue of $202.38 million during the quarter, compared to analysts’ expectations of $194.62 million. DiamondRock Hospitality had a return on equity of 4.90% and a net margin of 10.44%. The business’s revenue for the quarter was up 11.5% compared to the same quarter last year. During the same period last year, the company earned $0.17 earnings per share. As a group, analysts anticipate that DiamondRock Hospitality will post 1.03 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, July 12th. Investors of record on Friday, June 28th were given a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 4.92%. The ex-dividend date was Thursday, June 27th. DiamondRock Hospitality’s payout ratio is 49.02%.
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.
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