BidaskClub Lowers Diamondrock Hospitality Company (NYSE:DRH) to Sell
BidaskClub lowered shares of Diamondrock Hospitality Company (NYSE:DRH) from a hold rating to a sell rating in a research report report published on Friday.
Several other research analysts also recently commented on the company. Stifel Nicolaus raised Diamondrock Hospitality from a hold rating to a buy rating and increased their price objective for the company from $11.50 to $11.75 in a research note on Monday, May 15th. They noted that the move was a valuation call. Zacks Investment Research downgraded Diamondrock Hospitality from a buy rating to a hold rating in a research note on Thursday, May 25th. Goldman Sachs Group, Inc. (The) initiated coverage on Diamondrock Hospitality in a research note on Monday, April 10th. They issued a neutral rating and a $11.00 price objective for the company. Boenning Scattergood reissued an underperform rating and issued a $10.00 price objective on shares of Diamondrock Hospitality in a research note on Tuesday, April 18th. Finally, Canaccord Genuity reissued a buy rating and issued a $13.00 price objective on shares of Diamondrock Hospitality in a research note on Monday, May 15th. Four equities research analysts have rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the stock. The stock has a consensus rating of Hold and an average target price of $11.56.
Diamondrock Hospitality (NYSE:DRH) opened at 11.68 on Friday. Diamondrock Hospitality has a 12-month low of $8.73 and a 12-month high of $12.08. The company has a 50 day moving average of $11.52 and a 200-day moving average of $11.24. The stock has a market capitalization of $2.34 billion, a price-to-earnings ratio of 22.04 and a beta of 1.37.
Diamondrock Hospitality (NYSE:DRH) last posted its quarterly earnings data on Friday, May 5th. The real estate investment trust reported $0.18 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.17 by $0.01. Diamondrock Hospitality had a return on equity of 5.83% and a net margin of 12.15%. The firm had revenue of $196.21 million during the quarter, compared to the consensus estimate of $192.85 million. During the same period in the prior year, the company earned $0.21 EPS. The firm’s revenue was down 7.9% compared to the same quarter last year. On average, equities research analysts forecast that Diamondrock Hospitality will post $0.49 earnings per share for the current year.
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The business also recently announced a quarterly dividend, which was paid on Wednesday, July 12th. Shareholders of record on Friday, June 30th were issued a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 4.28%. The ex-dividend date was Wednesday, June 28th. Diamondrock Hospitality’s payout ratio is currently 94.34%.
A number of hedge funds have recently modified their holdings of DRH. Norges Bank bought a new stake in shares of Diamondrock Hospitality during the fourth quarter valued at about $23,800,000. UBS Asset Management Americas Inc. boosted its stake in shares of Diamondrock Hospitality by 70.1% in the fourth quarter. UBS Asset Management Americas Inc. now owns 647,100 shares of the real estate investment trust’s stock valued at $7,460,000 after buying an additional 266,681 shares during the last quarter. Teachers Advisors LLC boosted its stake in shares of Diamondrock Hospitality by 1.2% in the fourth quarter. Teachers Advisors LLC now owns 1,430,574 shares of the real estate investment trust’s stock valued at $16,495,000 after buying an additional 16,988 shares during the last quarter. Louisiana State Employees Retirement System boosted its stake in shares of Diamondrock Hospitality by 1.2% in the first quarter. Louisiana State Employees Retirement System now owns 81,500 shares of the real estate investment trust’s stock valued at $909,000 after buying an additional 1,000 shares during the last quarter. Finally, Everence Capital Management Inc. bought a new stake in shares of Diamondrock Hospitality during the first quarter valued at about $157,000.
About Diamondrock Hospitality
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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