Zacks Investment Research upgraded shares of DiamondRock Hospitality (NYSE:DRH) from a hold rating to a buy rating in a report issued on Wednesday morning, Zacks.com reports. They currently have $12.00 price objective on the real estate investment trust’s stock.

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. “

A number of other equities research analysts have also weighed in on DRH. Wells Fargo & Co upgraded Centurylink from a market perform rating to an outperform rating and boosted their price target for the stock from $12.00 to $14.00 in a research note on Wednesday, June 26th. ValuEngine downgraded Zumiez from a hold rating to a sell rating in a report on Tuesday, July 2nd. Four research analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company’s stock. DiamondRock Hospitality currently has a consensus rating of Hold and an average target price of $10.19.

Shares of DRH stock opened at $10.17 on Wednesday. DiamondRock Hospitality has a fifty-two week low of $8.69 and a fifty-two week high of $12.39. The stock has a market capitalization of $2.03 billion, a price-to-earnings ratio of 9.51, a price-to-earnings-growth ratio of 1.95 and a beta of 1.39. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.54 and a quick ratio of 1.54. The business’s 50-day simple moving average is $10.19.

DiamondRock Hospitality (NYSE:DRH) last issued its quarterly earnings results on Wednesday, May 8th. The real estate investment trust reported $0.04 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.18 by ($0.14). DiamondRock Hospitality had a return on equity of 4.90% and a net margin of 10.44%. The business had revenue of $202.38 million for the quarter, compared to analysts’ expectations of $194.62 million. During the same quarter in the previous year, the firm posted $0.17 EPS. DiamondRock Hospitality’s revenue was up 11.5% on a year-over-year basis. As a group, equities analysts expect that DiamondRock Hospitality will post 1.03 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, July 12th. Shareholders of record on Friday, June 28th were issued a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 4.92%. The ex-dividend date was Thursday, June 27th. DiamondRock Hospitality’s payout ratio is presently 49.02%.

In other DiamondRock Hospitality news, Director Maureen L. Mcavey sold 8,000 shares of the business’s stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $10.36, for a total value of $82,880.00. Following the completion of the transaction, the director now directly owns 91,688 shares of the company’s stock, valued at $949,887.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.90% of the company’s stock.

A number of large investors have recently made changes to their positions in the business. Nisa Investment Advisors LLC grew its stake in DiamondRock Hospitality by 9.1% during the 2nd quarter. Nisa Investment Advisors LLC now owns 125,762 shares of the real estate investment trust’s stock worth $1,300,000 after buying an additional 10,448 shares during the last quarter. WINTON GROUP Ltd purchased a new position in shares of DiamondRock Hospitality in the 2nd quarter valued at approximately $112,000. Eii Capital Management Inc. grew its stake in shares of DiamondRock Hospitality by 1.5% in the 2nd quarter. Eii Capital Management Inc. now owns 90,775 shares of the real estate investment trust’s stock valued at $939,000 after purchasing an additional 1,305 shares during the last quarter. First Trust Advisors LP grew its stake in shares of DiamondRock Hospitality by 172.9% in the 1st quarter. First Trust Advisors LP now owns 482,130 shares of the real estate investment trust’s stock valued at $5,221,000 after purchasing an additional 305,470 shares during the last quarter. Finally, FMR LLC grew its stake in shares of DiamondRock Hospitality by 5.0% in the 1st quarter. FMR LLC now owns 11,729,394 shares of the real estate investment trust’s stock valued at $127,030,000 after purchasing an additional 560,676 shares during the last quarter.

About DiamondRock Hospitality

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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