Truist Financial Has Lowered Expectations for DiamondRock Hospitality (NYSE:DRH) Stock Price

DiamondRock Hospitality (NYSE:DRH - Get Free Report) had its price target cut by investment analysts at Truist Financial from $10.00 to $9.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has a "hold" rating on the real estate investment trust's stock. Truist Financial's price target indicates a potential upside of 17.80% from the company's current price.

A number of other research firms also recently issued reports on DRH. Wells Fargo & Company decreased their price target on shares of 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 decreased their price target 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. 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, April 30th. Evercore ISI decreased their price target on shares of DiamondRock Hospitality from $10.00 to $9.00 and set an "in-line" rating for the company in a research note on Monday, April 28th. Finally, Stifel Nicolaus upped their price objective on shares of DiamondRock Hospitality from $8.00 to $8.25 and gave the stock a "hold" rating in a report on Friday, May 2nd. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $8.89.

DiamondRock Hospitality Trading Down 0.4%

Shares of NYSE:DRH traded down $0.03 during midday trading on Friday, hitting $7.64. 3,427,716 shares of the stock traded hands, compared to its average volume of 2,216,002. The stock has a market capitalization of $1.58 billion, a PE ratio of 27.29, a P/E/G ratio of 2.06 and a beta of 1.33. The business's 50 day moving average is $7.37 and its two-hundred day moving average is $8.31. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.66. DiamondRock Hospitality has a one year low of $6.19 and a one year high of $10.00.

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

Institutional Investors Weigh In On DiamondRock Hospitality

A number of hedge funds and other institutional investors have recently bought and sold shares of DRH. Versant Capital Management Inc grew its holdings in shares of DiamondRock Hospitality by 156.3% during the first quarter. Versant Capital Management Inc now owns 3,699 shares of the real estate investment trust's stock valued at $29,000 after buying an additional 2,256 shares during the last quarter. GF Fund Management CO. LTD. purchased a new stake in shares of DiamondRock Hospitality during the fourth quarter valued at approximately $34,000. State of Wyoming purchased a new stake in shares of DiamondRock Hospitality during the fourth quarter valued at approximately $54,000. FIL Ltd purchased a new stake in shares of DiamondRock Hospitality during the fourth quarter valued at approximately $60,000. Finally, Smartleaf Asset Management LLC grew its holdings in shares of DiamondRock Hospitality by 278.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 9,769 shares of the real estate investment trust's stock valued at $89,000 after buying an additional 7,189 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.