DiamondRock Hospitality (NYSE:DRH) Upgraded to Hold at StockNews.com

DiamondRock Hospitality (NYSE:DRH - Get Free Report) was upgraded by equities researchers at StockNews.com from a "sell" rating to a "hold" rating in a report issued on Friday.

Several other research firms also recently commented on DRH. Truist Financial upped their price objective on DiamondRock Hospitality from $10.00 to $11.00 and gave the company a "hold" rating in a research note on Thursday, March 14th. Stifel Nicolaus raised their target price on shares of DiamondRock Hospitality from $10.00 to $10.50 and gave the stock a "buy" rating in a research note on Friday, February 23rd. Finally, Wolfe Research began coverage on shares of DiamondRock Hospitality in a report on Wednesday, January 10th. They issued an "outperform" rating and a $11.00 target price on the stock. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $10.30.

DiamondRock Hospitality Stock Up 0.7 %

DRH stock traded up $0.06 during mid-day trading on Friday, reaching $8.83. The company had a trading volume of 2,289,141 shares, compared to its average volume of 1,800,385. DiamondRock Hospitality has a fifty-two week low of $7.33 and a fifty-two week high of $9.99. The company has a market capitalization of $1.86 billion, a price-to-earnings ratio of 24.53 and a beta of 1.61. The company has a debt-to-equity ratio of 0.71, a quick ratio of 2.00 and a current ratio of 2.00. The firm has a fifty day simple moving average of $9.32 and a 200 day simple moving average of $9.00.

DiamondRock Hospitality (NYSE:DRH - Get Free Report) last posted its quarterly earnings results on Friday, February 23rd. The real estate investment trust reported $0.04 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.14). The firm had revenue of $263.50 million for the quarter, compared to analyst estimates of $261.45 million. DiamondRock Hospitality had a return on equity of 5.29% and a net margin of 8.03%. The company's revenue was up 3.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.23 EPS. Analysts forecast that DiamondRock Hospitality will post 0.96 earnings per share for the current fiscal year.

Hedge Funds Weigh In On DiamondRock Hospitality

A number of hedge funds have recently made changes to their positions in DRH. First Trust Direct Indexing L.P. raised its stake in shares of DiamondRock Hospitality by 8.8% in the 4th quarter. First Trust Direct Indexing L.P. now owns 14,660 shares of the real estate investment trust's stock valued at $138,000 after acquiring an additional 1,181 shares during the period. Swiss National Bank boosted its position in DiamondRock Hospitality by 0.4% in the 3rd quarter. Swiss National Bank now owns 461,100 shares of the real estate investment trust's stock valued at $3,703,000 after buying an additional 1,800 shares during the last quarter. Diversified Trust Co lifted its position in shares of DiamondRock Hospitality by 4.2% during the third quarter. Diversified Trust Co now owns 52,385 shares of the real estate investment trust's stock worth $421,000 after purchasing an additional 2,108 shares during the last quarter. Quadrant Capital Group LLC grew its stake in DiamondRock Hospitality by 195.7% in the fourth quarter. Quadrant Capital Group LLC now owns 3,330 shares of the real estate investment trust's stock worth $31,000 after purchasing an additional 2,204 shares in the last quarter. Finally, Metis Global Partners LLC increased its holdings in DiamondRock Hospitality by 19.4% in the fourth quarter. Metis Global Partners LLC now owns 14,309 shares of the real estate investment trust's stock valued at $134,000 after buying an additional 2,324 shares during the last quarter.

DiamondRock Hospitality Company Profile

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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