DiamondRock Hospitality (NYSE:DRH) Given New $9.50 Price Target at Wells Fargo & Company

DiamondRock Hospitality (NYSE:DRH) had its price target reduced by investment analysts at Wells Fargo & Company from $10.50 to $9.50 in a report issued on Tuesday,Benzinga reports. The firm presently has an “equal weight” rating on the real estate investment trust’s stock. Wells Fargo & Company‘s price target would indicate a potential upside of 10.77% from the stock’s previous close.

Other analysts also recently issued reports about the company. Evercore ISI downgraded DiamondRock Hospitality from an “outperform” rating to an “inline” rating and set a $10.50 price objective for the company. in a research note on Friday, November 15th. StockNews.com raised DiamondRock Hospitality from a “sell” rating to a “hold” rating in a research note on Tuesday, November 12th. Finally, Stifel Nicolaus downgraded DiamondRock Hospitality from a “buy” rating to a “hold” rating and reduced their price objective for the company from $10.75 to $10.25 in a research note on Friday, November 22nd. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $10.05.

DiamondRock Hospitality Stock Up 0.4 %

DiamondRock Hospitality stock opened at $8.58 on Tuesday. DiamondRock Hospitality has a fifty-two week low of $7.74 and a fifty-two week 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. The company has a market capitalization of $1.78 billion, a P/E ratio of 30.70, a PEG ratio of 4.88 and a beta of 1.57. The stock has a 50-day simple moving average of $8.99 and a 200-day simple moving average of $8.85.

Hedge Funds Weigh In On DiamondRock Hospitality

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. State Street Corp grew its holdings in shares of DiamondRock Hospitality by 1.8% in the 3rd quarter. State Street Corp now owns 12,535,384 shares of the real estate investment trust’s stock worth $109,806,000 after acquiring an additional 221,219 shares during the period. Pzena Investment Management LLC grew its holdings in shares of DiamondRock Hospitality by 3.6% in the 3rd quarter. Pzena Investment Management LLC now owns 9,153,018 shares of the real estate investment trust’s stock worth $79,906,000 after acquiring an additional 317,901 shares during the period. Invesco Ltd. grew its holdings in shares of DiamondRock Hospitality by 3.9% in the 4th quarter. Invesco Ltd. now owns 8,651,539 shares of the real estate investment trust’s stock worth $78,123,000 after acquiring an additional 323,745 shares during the period. Alyeska Investment Group L.P. grew its holdings in shares of DiamondRock Hospitality by 16.3% in the 4th quarter. Alyeska Investment Group L.P. now owns 8,576,077 shares of the real estate investment trust’s stock worth $77,442,000 after acquiring an additional 1,201,955 shares during the period. Finally, Bank of America Corp DE grew its holdings in shares of DiamondRock Hospitality by 78.8% in the 4th quarter. Bank of America Corp DE now owns 6,953,022 shares of the real estate investment trust’s stock worth $62,786,000 after acquiring an additional 3,064,117 shares during the period.

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.