Diamondrock Hospitality Company (DRH) to Post FY2018 Earnings of $0.98 Per Share, SunTrust Banks Forecasts
Diamondrock Hospitality Company (NYSE:DRH) – Research analysts at SunTrust Banks dropped their FY2018 earnings estimates for Diamondrock Hospitality in a research report issued on Tuesday. SunTrust Banks analyst P. Scholes now expects that the real estate investment trust will post earnings per share of $0.98 for the year, down from their previous estimate of $1.03. SunTrust Banks also issued estimates for Diamondrock Hospitality’s Q4 2018 earnings at $0.25 EPS.
A number of other analysts have also commented on the company. Boenning Scattergood reiterated a “sell” rating and issued a $10.00 price objective on shares of Diamondrock Hospitality in a research report on Wednesday. TheStreet lowered Diamondrock Hospitality from a “b” rating to a “c+” rating in a research report on Monday. Zacks Investment Research lowered Diamondrock Hospitality from a “hold” rating to a “sell” rating in a research report on Tuesday, October 31st. KeyCorp reiterated a “hold” rating on shares of Diamondrock Hospitality in a research report on Tuesday, October 24th. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $12.00 price objective on shares of Diamondrock Hospitality in a research report on Thursday, September 21st. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $12.00.
Shares of Diamondrock Hospitality (NYSE:DRH) traded up $0.05 during mid-day trading on Thursday, reaching $11.35. The company had a trading volume of 2,040,106 shares, compared to its average volume of 2,250,172. The company has a debt-to-equity ratio of 0.51, a quick ratio of 2.45 and a current ratio of 2.41. The firm has a market capitalization of $2,260.00, a price-to-earnings ratio of 11.51, a price-to-earnings-growth ratio of 2.36 and a beta of 1.33. Diamondrock Hospitality has a 1 year low of $9.60 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 EPS 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 return on equity of 4.97% and a net margin of 10.47%. The company’s revenue was up 1.5% on a year-over-year basis. During the same period last year, the company earned $0.26 earnings per share.
The business also recently announced a quarterly dividend, which was paid on Thursday, October 12th. Stockholders of record on Friday, September 29th were given a dividend of $0.125 per share. The ex-dividend date of this dividend was Thursday, September 28th. This represents a $0.50 annualized dividend and a dividend yield of 4.41%. Diamondrock Hospitality’s payout ratio is currently 111.11%.
In related news, Director Maureen L. Mcavey sold 6,000 shares of the business’s stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $11.20, for a total value of $67,200.00. Following the completion of the transaction, the director now directly owns 81,030 shares in the company, valued at approximately $907,536. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.10% of the stock is currently owned by insiders.
Several institutional investors and hedge funds have recently modified their holdings of DRH. Ronald Blue & Co. LLC grew its position in shares of Diamondrock Hospitality by 1.0% in the 2nd quarter. Ronald Blue & Co. LLC now owns 11,203 shares of the real estate investment trust’s stock valued at $123,000 after purchasing an additional 116 shares during the period. HRT Financial LLC acquired a new position in shares of Diamondrock Hospitality in the 2nd quarter valued at approximately $142,000. World Asset Management Inc grew its position in shares of Diamondrock Hospitality by 2.2% in the 2nd quarter. World Asset Management Inc now owns 13,047 shares of the real estate investment trust’s stock valued at $143,000 after purchasing an additional 282 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Diamondrock Hospitality by 15.2% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,787 shares of the real estate investment trust’s stock valued at $173,000 after purchasing an additional 2,081 shares during the period. Finally, ARP Americas LLC acquired a new position in shares of Diamondrock Hospitality in the 2nd quarter valued at approximately $177,000.
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.
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