FY2017 EPS Estimates for Diamondrock Hospitality Company (DRH) Cut by KeyCorp
Diamondrock Hospitality Company (NYSE:DRH) – Equities researchers at KeyCorp reduced their FY2017 earnings estimates for shares of Diamondrock Hospitality in a research report issued on Wednesday. KeyCorp analyst A. Wurschmidt now expects that the real estate investment trust will post earnings per share of $0.94 for the year, down from their previous estimate of $0.96. KeyCorp currently has a “Hold” rating on the stock. KeyCorp also issued estimates for Diamondrock Hospitality’s Q1 2018 earnings at $0.20 EPS.
Several other analysts have also recently commented on DRH. Boenning Scattergood upgraded shares of Diamondrock Hospitality from an “under perform” rating to a “neutral” rating in a research report on Friday, December 8th. Stifel Nicolaus reiterated a “buy” rating and set a $12.00 target price on shares of Diamondrock Hospitality in a research report on Thursday, September 21st. Robert W. Baird set a $12.00 target price on shares of Diamondrock Hospitality and gave the company a “buy” rating in a research report on Sunday, September 10th. Zacks Investment Research cut shares of Diamondrock Hospitality from a “hold” rating to a “sell” rating in a research report on Tuesday, October 31st. Finally, Evercore ISI upgraded shares of Diamondrock Hospitality from an “in-line” rating to an “outperform” rating in a research report on Monday, December 4th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $12.00.
Shares of Diamondrock Hospitality (NYSE:DRH) opened at $11.37 on Friday. The company has a market cap of $2,280.00, a price-to-earnings ratio of 25.27, a price-to-earnings-growth ratio of 2.36 and a beta of 1.33. Diamondrock Hospitality has a 1 year low of $10.43 and a 1 year high of $12.07. 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 (NYSE:DRH) last issued its earnings results on Monday, November 6th. The real estate investment trust reported $0.25 EPS for the quarter, meeting the consensus estimate of $0.25. The company had revenue of $223.50 million during the quarter, compared to analysts’ expectations of $223.30 million. Diamondrock Hospitality had a net margin of 10.47% and a return on equity of 4.97%. The business’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.26 EPS.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Royce & Associates LP increased its position in shares of Diamondrock Hospitality by 6.8% in the 2nd quarter. Royce & Associates LP now owns 390,000 shares of the real estate investment trust’s stock valued at $4,270,000 after buying an additional 25,000 shares in the last quarter. Resolution Capital Ltd increased its holdings in Diamondrock Hospitality by 8.0% during the 3rd quarter. Resolution Capital Ltd now owns 7,232,784 shares of the real estate investment trust’s stock worth $79,199,000 after purchasing an additional 535,876 shares in the last quarter. BNP Paribas Arbitrage SA increased its holdings in Diamondrock Hospitality by 11.6% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 125,938 shares of the real estate investment trust’s stock worth $1,379,000 after purchasing an additional 13,102 shares in the last quarter. IndexIQ Advisors LLC increased its holdings in Diamondrock Hospitality by 31.7% during the 2nd quarter. IndexIQ Advisors LLC now owns 281,727 shares of the real estate investment trust’s stock worth $3,085,000 after purchasing an additional 67,816 shares in the last quarter. Finally, Seizert Capital Partners LLC increased its holdings in Diamondrock Hospitality by 48.2% during the 2nd quarter. Seizert Capital Partners LLC now owns 301,025 shares of the real estate investment trust’s stock worth $3,296,000 after purchasing an additional 97,911 shares in the last quarter.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 12th. Investors of record on Friday, December 29th will be given a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 4.40%. The ex-dividend date is Thursday, December 28th. Diamondrock Hospitality’s dividend payout ratio is currently 111.11%.
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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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