Diamondrock Hospitality Company (NYSE:DRH) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Tuesday.

According to Zacks, “DiamondRock Hospitality Company is a self-advised real estate company that owns, acquires and invests in upper upscale and upscale hotel properties located primarily in North America. To a lesser extent, it may invest, on a selective basis, in premium limited-service and extended-stay hotel properties in urban locations. The Company has a strategic acquisition sourcing relationship with Marriott International. “

DRH has been the subject of a number of other reports. Canaccord Genuity restated a “buy” rating and issued a $13.00 price objective on shares of Diamondrock Hospitality in a report on Monday, August 7th. Robert W. Baird restated a “buy” rating and issued a $12.00 price objective on shares of Diamondrock Hospitality in a report on Friday. TheStreet lowered shares of Diamondrock Hospitality from a “b” rating to a “c+” rating in a report on Monday, November 6th. Boenning Scattergood set a $10.00 price objective on shares of Diamondrock Hospitality and gave the stock a “sell” rating in a report on Thursday, October 26th. Finally, Stifel Nicolaus restated a “buy” rating and issued a $12.00 price objective on shares of Diamondrock Hospitality in a report on Thursday, September 21st. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the stock. Diamondrock Hospitality currently has an average rating of “Hold” and a consensus price target of $12.00.

Shares of Diamondrock Hospitality (NYSE:DRH) traded down $0.21 on Tuesday, hitting $11.14. 1,779,800 shares of the stock were exchanged, compared to its average volume of 2,248,032. The company has a market cap of $2,220.00, a price-to-earnings ratio of 11.46, a price-to-earnings-growth ratio of 2.34 and a beta of 1.33. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 0.51. Diamondrock Hospitality has a 1 year low of $9.93 and a 1 year high of $12.07.

Diamondrock Hospitality (NYSE:DRH) last announced its quarterly earnings data on Monday, November 6th. The real estate investment trust reported $0.25 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.25. The firm had revenue of $223.50 million during the quarter, compared to analyst estimates of $223.30 million. Diamondrock Hospitality had a net margin of 10.47% and a return on equity of 4.97%. The business’s quarterly revenue was up 1.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.26 EPS. equities research analysts forecast that Diamondrock Hospitality will post 0.97 EPS for the current year.

ILLEGAL ACTIVITY NOTICE: “Diamondrock Hospitality Company (DRH) Downgraded to “Sell” at Zacks Investment Research” was originally reported by Watch List News and is the property of of Watch List News. If you are viewing this news story on another site, it was illegally copied and republished in violation of international copyright law. The legal version of this news story can be viewed at https://www.watchlistnews.com/diamondrock-hospitality-company-drh-downgraded-to-sell-at-zacks-investment-research/1703445.html.

A number of large investors have recently bought and sold shares of the stock. Bank of New York Mellon Corp increased its position in Diamondrock Hospitality by 63.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 5,313,030 shares of the real estate investment trust’s stock valued at $58,177,000 after purchasing an additional 2,058,356 shares during the period. Vanguard Group Inc. increased its position in Diamondrock Hospitality by 5.1% during the 2nd quarter. Vanguard Group Inc. now owns 34,866,908 shares of the real estate investment trust’s stock valued at $381,793,000 after purchasing an additional 1,694,293 shares during the period. BlackRock Inc. increased its position in Diamondrock Hospitality by 4.6% during the 2nd quarter. BlackRock Inc. now owns 32,509,608 shares of the real estate investment trust’s stock valued at $355,983,000 after purchasing an additional 1,421,711 shares during the period. Prudential Financial Inc. increased its position in Diamondrock Hospitality by 13.1% during the 2nd quarter. Prudential Financial Inc. now owns 5,809,786 shares of the real estate investment trust’s stock valued at $63,617,000 after purchasing an additional 671,355 shares during the period. Finally, Chicago Equity Partners LLC increased its position in Diamondrock Hospitality by 279.5% during the 2nd quarter. Chicago Equity Partners LLC now owns 782,385 shares of the real estate investment trust’s stock valued at $8,567,000 after purchasing an additional 576,245 shares during the period.

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.

Analyst Recommendations for Diamondrock Hospitality (NYSE:DRH)

Receive News & Ratings for Diamondrock Hospitality Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Diamondrock Hospitality Company and related companies with Analyst Ratings Network's FREE daily email newsletter.