DiamondRock Hospitality (NYSE:DRH) Price Target Raised to $8.25

DiamondRock Hospitality (NYSE:DRH - Get Free Report) had its target price upped by investment analysts at Stifel Nicolaus from $8.00 to $8.25 in a report issued on Friday,Benzinga reports. The brokerage presently has a "hold" rating on the real estate investment trust's stock. Stifel Nicolaus' price target indicates a potential upside of 9.20% from the company's previous close.

Several other equities research analysts have also recently commented on DRH. Wells Fargo & Company decreased their target price on DiamondRock Hospitality from $10.50 to $9.50 and set an "equal weight" rating for the company in a research note on Tuesday, February 18th. Morgan Stanley lowered their price objective on shares of DiamondRock Hospitality from $9.00 to $7.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 22nd. Evercore ISI cut their target price on shares of DiamondRock Hospitality from $10.00 to $9.00 and set an "in-line" rating on the stock in a research note on Monday. Finally, Bank of America raised shares of DiamondRock Hospitality from an "underperform" rating to a "buy" rating and set a $9.50 price target for the company in a research note on Wednesday. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $9.04.

DiamondRock Hospitality Price Performance

Shares of NYSE DRH traded up $0.16 during mid-day trading on Friday, hitting $7.56. 617,717 shares of the stock traded hands, compared to its average volume of 2,186,405. The company has a market cap of $1.58 billion, a PE ratio of 26.98, a price-to-earnings-growth ratio of 2.06 and a beta of 1.38. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.73 and a quick ratio of 1.73. The firm has a 50 day simple moving average of $7.56 and a two-hundred day simple moving average of $8.51. DiamondRock Hospitality has a twelve month low of $6.19 and a twelve month high of $10.00.

DiamondRock Hospitality (NYSE:DRH - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The real estate investment trust reported $0.19 EPS for the quarter, topping analysts' consensus estimates of $0.17 by $0.02. The company had revenue of $254.85 million for the quarter, compared to analyst estimates of $256.47 million. DiamondRock Hospitality had a net margin of 6.30% and a return on equity of 4.25%. DiamondRock Hospitality's revenue was up .5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.17 earnings per share. As a group, equities research analysts forecast that DiamondRock Hospitality will post 0.96 EPS for the current fiscal year.

Institutional Investors Weigh In On DiamondRock Hospitality

A number of institutional investors and hedge funds have recently made changes to their positions in DRH. Nissay Asset Management Corp Japan ADV raised its stake in shares of DiamondRock Hospitality by 4.0% in the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 31,738 shares of the real estate investment trust's stock worth $292,000 after purchasing an additional 1,216 shares during the last quarter. Xponance Inc. grew its holdings in DiamondRock Hospitality by 9.9% during the fourth quarter. Xponance Inc. now owns 15,098 shares of the real estate investment trust's stock worth $136,000 after buying an additional 1,360 shares in the last quarter. Ancora Advisors LLC raised its position in DiamondRock Hospitality by 0.9% in the 4th quarter. Ancora Advisors LLC now owns 164,150 shares of the real estate investment trust's stock valued at $1,482,000 after buying an additional 1,490 shares during the last quarter. Vert Asset Management LLC lifted its stake in DiamondRock Hospitality by 2.1% during the 4th quarter. Vert Asset Management LLC now owns 82,570 shares of the real estate investment trust's stock valued at $746,000 after acquiring an additional 1,729 shares in the last quarter. Finally, Illinois Municipal Retirement Fund boosted its holdings in DiamondRock Hospitality by 1.8% during the 1st quarter. Illinois Municipal Retirement Fund now owns 107,860 shares of the real estate investment trust's stock worth $833,000 after acquiring an additional 1,873 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 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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