Zacks Investment Research downgraded shares of DiamondRock Hospitality (NYSE:DRH) from a strong-buy rating to a hold rating in a report released on Thursday morning, Zacks.com reports.

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. “

Several other research analysts have also recently weighed in on DRH. Wells Fargo & Co upgraded shares of 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 report on Wednesday, June 26th. ValuEngine cut shares of Zumiez from a hold rating to a sell rating in a report on Tuesday, July 2nd. Four investment analysts have rated the stock with a sell rating and six have issued a hold rating to the stock. The stock presently has an average rating of Hold and an average target price of $10.19.

Shares of NYSE DRH opened at $9.90 on Thursday. The firm has a market capitalization of $1.99 billion, a PE ratio of 9.71, a P/E/G ratio of 1.92 and a beta of 1.39. The firm’s 50-day simple moving average is $10.14. DiamondRock Hospitality has a 1 year low of $8.69 and a 1 year high of $12.39. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.54 and a quick ratio of 1.54.

DiamondRock Hospitality (NYSE:DRH) last issued its quarterly earnings data on Wednesday, May 8th. The real estate investment trust reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.14). The business had revenue of $202.38 million for the quarter, compared to analyst estimates of $194.62 million. DiamondRock Hospitality had a net margin of 10.44% and a return on equity of 4.90%. The firm’s quarterly revenue was up 11.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.17 earnings per share. On average, research analysts forecast that DiamondRock Hospitality will post 1.03 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, July 12th. Shareholders of record on Friday, June 28th were paid a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 5.05%. The ex-dividend date of this dividend was Thursday, June 27th. DiamondRock Hospitality’s payout ratio is 49.02%.

In other DiamondRock Hospitality news, Director Maureen L. Mcavey sold 8,000 shares of the business’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $10.36, for a total value of $82,880.00. Following the transaction, the director now directly owns 91,688 shares in the company, valued at $949,887.68. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.90% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Raymond James & Associates increased its stake in shares of DiamondRock Hospitality by 20.1% in the 4th quarter. Raymond James & Associates now owns 16,161 shares of the real estate investment trust’s stock worth $147,000 after acquiring an additional 2,700 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of DiamondRock Hospitality in the 4th quarter worth about $99,000. Hsbc Holdings PLC increased its stake in shares of DiamondRock Hospitality by 596.4% in the 4th quarter. Hsbc Holdings PLC now owns 183,757 shares of the real estate investment trust’s stock worth $1,668,000 after acquiring an additional 157,370 shares in the last quarter. California State Teachers Retirement System increased its stake in shares of DiamondRock Hospitality by 2.3% in the 4th quarter. California State Teachers Retirement System now owns 324,588 shares of the real estate investment trust’s stock worth $2,947,000 after acquiring an additional 7,319 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of DiamondRock Hospitality by 8.2% in the 4th quarter. Geode Capital Management LLC now owns 3,046,592 shares of the real estate investment trust’s stock worth $27,663,000 after acquiring an additional 230,166 shares in 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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