DiamondRock Hospitality Company (NYSE:DRH) Stock Has Average Target Price of $13.03 According to Analysts

DiamondRock Hospitality Company (NYSE:DRH) has earned an average rating of “Hold” from the eleven brokerages that are presently covering the company, Marketbeat reports. Seven analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $13.03.

A number of equities research analysts recently issued reports on the stock. Bank of America upped their price objective on shares of DiamondRock Hospitality from $12.50 to $13.00 and gave the stock a “buy” rating in a report on Monday, July 20th. Zacks Research cut DiamondRock Hospitality from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 28th. Morgan Stanley upped their price target on DiamondRock Hospitality from $11.00 to $12.00 and gave the stock an “equal weight” rating in a research note on Monday, October 12th. Citigroup increased their price objective on DiamondRock Hospitality from $11.00 to $13.00 and gave the company a “neutral” rating in a report on Wednesday, July 22nd. Finally, Barclays raised their price objective on DiamondRock Hospitality from $12.00 to $14.00 and gave the company an “equal weight” rating in a research note on Thursday, August 27th.

Hedge Funds Weigh In On DiamondRock Hospitality

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Choreo LLC increased its holdings in shares of DiamondRock Hospitality by 4.5% in the third quarter. Choreo LLC now owns 31,073 shares of the real estate investment trust’s stock worth $384,000 after buying an additional 1,330 shares during the period. Gallacher Capital Management LLC increased its stake in DiamondRock Hospitality by 5.8% in the 1st quarter. Gallacher Capital Management LLC now owns 27,509 shares of the real estate investment trust’s stock worth $258,000 after purchasing an additional 1,504 shares during the period. Ancora Advisors LLC lifted its position in DiamondRock Hospitality by 0.3% in the second quarter. Ancora Advisors LLC now owns 496,340 shares of the real estate investment trust’s stock valued at $6,045,000 after purchasing an additional 1,630 shares during the last quarter. Fifth Third Wealth Advisors LLC lifted its position in DiamondRock Hospitality by 16.1% in the third quarter. Fifth Third Wealth Advisors LLC now owns 12,974 shares of the real estate investment trust’s stock valued at $160,000 after purchasing an additional 1,795 shares during the last quarter. Finally, Sequoia Financial Advisors LLC boosted its stake in shares of DiamondRock Hospitality by 15.8% during the first quarter. Sequoia Financial Advisors LLC now owns 16,470 shares of the real estate investment trust’s stock valued at $154,000 after purchasing an additional 2,243 shares during the period.

DiamondRock Hospitality Stock Performance

DRH stock opened at $14.25 on Friday. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 0.70. The company has a market capitalization of $2.92 billion, a price-to-earnings ratio of 57.00, a P/E/G ratio of 4.50 and a beta of 1.01. DiamondRock Hospitality has a 12 month low of $7.58 and a 12 month high of $14.57. The firm has a 50 day moving average of $12.78 and a two-hundred day moving average of $11.30.

DiamondRock Hospitality (NYSE:DRH) last released its quarterly earnings results on Thursday, July 30th. The real estate investment trust reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.22. DiamondRock Hospitality had a net margin of 5.69% and a return on equity of 4.04%. The business had revenue of $318.29 million for the quarter, compared to the consensus estimate of $314.98 million. During the same quarter last year, the firm earned $0.35 EPS. DiamondRock Hospitality’s revenue for the quarter was up 4.1% on a year-over-year basis. As a group, equities analysts anticipate that DiamondRock Hospitality will post 0.96 EPS for the current fiscal year.

About DiamondRock Hospitality

DiamondRock Hospitality Company (NYSE: DRH) is a self-advised real estate investment trust that owns a portfolio of hotels and resort properties in the United States. The company focuses on lodging real estate in leisure destinations and gateway markets, with properties serving business travelers, vacationers, and group customers.

DiamondRock’s portfolio includes hotels operated under nationally recognized brands as well as independent and boutique properties. Its business activities include acquiring, owning, leasing, and strategically managing hospitality real estate, while day-to-day hotel operations are generally carried out by third-party management companies and brand operators.

The company was formed in 2004 through a spin-off from Marriott International and is headquartered in Bethesda, Maryland.