Morgan Stanley lowered shares of DiamondRock Hospitality Co. (NYSE:DRH) from an equal weight rating to an underweight rating in a research report released on Monday morning. 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.
A number of other analysts have also weighed in on DRH. Deutsche Bank AG reaffirmed a hold rating and set a $11.00 price objective on shares of DiamondRock Hospitality in a research report on Sunday, June 26th. Zacks Investment Research lowered DiamondRock Hospitality from a hold rating to a strong sell rating in a research report on Tuesday, July 19th. TheStreet raised DiamondRock Hospitality from a hold rating to a buy rating in a report on Tuesday, July 19th. Barclays PLC reissued a buy rating and issued a $11.00 target price on shares of DiamondRock Hospitality in a report on Thursday, August 11th. Finally, Canaccord Genuity reissued a buy rating and issued a $12.00 target price on shares of DiamondRock Hospitality in a report on Tuesday, August 16th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company. The company has a consensus rating of Hold and an average target price of $11.09.
Shares of DiamondRock Hospitality (NYSE:DRH) opened at 8.99 on Monday. DiamondRock Hospitality has a 1-year low of $7.28 and a 1-year high of $12.84. The stock has a 50 day moving average price of $9.88 and a 200 day moving average price of $9.51. 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 for the quarter, missing analysts’ consensus estimates of $0.32 by $0.01. DiamondRock Hospitality had a return on equity of 6.24% and a net margin of 11.80%. The company had revenue of $256.66 million for the quarter, compared to analysts’ expectations of $259.26 million. During the same period in the prior year, the company posted $0.31 EPS. The firm’s revenue was up 2.8% compared to the same quarter last year. On average, equities analysts anticipate that DiamondRock Hospitality will post $1.02 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 12th. Stockholders of record on Friday, September 30th will be paid a dividend of $0.125 per share. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $0.50 annualized dividend and a dividend yield of 5.56%. DiamondRock Hospitality’s dividend payout ratio (DPR) is 89.29%.
Several large investors have recently made changes to their positions in the company. Menta Capital LLC acquired a new stake in shares of DiamondRock Hospitality during the first quarter valued at $1,760,000. Royce & Associates LP acquired a new stake in shares of DiamondRock Hospitality during the first quarter valued at $1,012,000. Brookfield Asset Management Inc. acquired a new stake in shares of DiamondRock Hospitality during the first quarter valued at $43,674,000. Landscape Capital Management L.L.C. increased its stake in shares of DiamondRock Hospitality by 320.7% in the first quarter. Landscape Capital Management L.L.C. now owns 629,920 shares of the real estate investment trust’s stock valued at $6,375,000 after buying an additional 480,184 shares during the period. Finally, BlackRock Japan Co. Ltd increased 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 during the period.
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.
Receive News & Ratings for DiamondRock Hospitality Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for DiamondRock Hospitality Co. and related companies with MarketBeat.com's FREE daily email newsletter.