DiamondRock Hospitality (NYSE:DRH) Price Target Cut to $9.00 by Analysts at Evercore ISI

DiamondRock Hospitality (NYSE:DRH - Get Free Report) had its price target decreased by equities research analysts at Evercore ISI from $10.00 to $9.00 in a research report issued on Monday,Benzinga reports. The firm currently has an "in-line" rating on the real estate investment trust's stock. Evercore ISI's price objective would suggest a potential upside of 22.48% from the stock's current price.

Several other research firms have also recently issued reports on DRH. Wells Fargo & Company cut their target price on DiamondRock Hospitality from $10.50 to $9.50 and set an "equal weight" rating on the stock in a research note on Tuesday, February 18th. Morgan Stanley reduced their target price on DiamondRock Hospitality from $9.00 to $7.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 22nd. Finally, Stifel Nicolaus dropped their price target on DiamondRock Hospitality from $9.75 to $8.00 and set a "hold" rating for the company in a research note on Wednesday, April 16th. Six analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, DiamondRock Hospitality has an average rating of "Hold" and a consensus target price of $8.92.

DiamondRock Hospitality Price Performance

DiamondRock Hospitality stock traded up $0.14 during mid-day trading on Monday, hitting $7.35. 95,785 shares of the company traded hands, compared to its average volume of 2,306,825. The stock has a fifty day moving average price of $7.64 and a 200-day moving average price of $8.55. The stock has a market cap of $1.53 billion, a price-to-earnings ratio of 26.24, a price-to-earnings-growth ratio of 2.06 and a beta of 1.38. DiamondRock Hospitality has a one year low of $6.18 and a one year high of $10.00. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.73 and a current ratio of 1.73.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC increased its stake in shares of DiamondRock Hospitality by 54.6% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 91,486 shares of the real estate investment trust's stock worth $705,000 after purchasing an additional 32,298 shares in the last quarter. Illinois Municipal Retirement Fund grew its holdings in DiamondRock Hospitality by 1.8% during the first quarter. Illinois Municipal Retirement Fund now owns 107,860 shares of the real estate investment trust's stock valued at $833,000 after purchasing an additional 1,873 shares during the period. Diversified Trust Co lifted its position in shares of DiamondRock Hospitality by 8.3% during the 1st quarter. Diversified Trust Co now owns 36,033 shares of the real estate investment trust's stock valued at $278,000 after buying an additional 2,748 shares in the last quarter. Oppenheimer Asset Management Inc. bought a new stake in DiamondRock Hospitality during the 1st quarter worth approximately $103,000. Finally, Harbor Capital Advisors Inc. lifted its holdings in DiamondRock Hospitality by 26.4% during the first quarter. Harbor Capital Advisors Inc. now owns 11,941 shares of the real estate investment trust's stock valued at $92,000 after purchasing an additional 2,492 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 leisure destinations and top gateway markets. The Company currently owns 36 premium quality hotels with over 9,700 rooms. The Company has strategically positioned its portfolio to be operated both under leading global brand families as well as independent boutique hotels in the lifestyle segment.

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