Shares of DiamondRock Hospitality (NYSE:DRH) have earned a consensus recommendation of “Hold” from the fourteen research firms that are currently covering the company, Marketbeat Ratings reports. Three analysts have rated the stock with a sell recommendation, four have given a hold recommendation and four have given a buy recommendation to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $8.48.
DRH has been the subject of several research analyst reports. Raymond James lifted their target price on shares of DiamondRock Hospitality from $10.00 to $11.50 and gave the company an “outperform” rating in a research report on Tuesday, March 2nd. Zacks Investment Research lowered shares of DiamondRock Hospitality from a “hold” rating to a “sell” rating in a research report on Monday, May 3rd. Barclays lifted their target price on shares of DiamondRock Hospitality from $9.00 to $11.00 and gave the company an “overweight” rating in a research report on Wednesday, April 28th. Truist lifted their target price on shares of DiamondRock Hospitality from $6.00 to $8.00 in a research report on Thursday, March 18th. Finally, Morgan Stanley lifted their target price on shares of DiamondRock Hospitality from $8.00 to $9.00 and gave the company an “equal weight” rating in a research report on Monday, May 17th.
Institutional investors and hedge funds have recently made changes to their positions in the company. Rhumbline Advisers lifted its holdings in shares of DiamondRock Hospitality by 3.0% in the 1st quarter. Rhumbline Advisers now owns 792,912 shares of the real estate investment trust’s stock worth $8,167,000 after acquiring an additional 22,945 shares during the last quarter. Jane Street Group LLC bought a new stake in DiamondRock Hospitality during the 4th quarter valued at $399,000. Everence Capital Management Inc. bought a new stake in DiamondRock Hospitality during the 1st quarter valued at $430,000. State of New Jersey Common Pension Fund D bought a new stake in DiamondRock Hospitality during the 1st quarter valued at $3,992,000. Finally, Meeder Asset Management Inc. raised its holdings in DiamondRock Hospitality by 4,743.9% during the 1st quarter. Meeder Asset Management Inc. now owns 3,972 shares of the real estate investment trust’s stock valued at $41,000 after buying an additional 3,890 shares during the last quarter.
DiamondRock Hospitality (NYSE:DRH) last issued its quarterly earnings data on Thursday, May 6th. The real estate investment trust reported ($0.82) EPS for the quarter, missing the consensus estimate of ($0.15) by ($0.67). The firm had revenue of $72.90 million for the quarter, compared to analysts’ expectations of $62.26 million. DiamondRock Hospitality had a negative net margin of 262.15% and a negative return on equity of 30.71%. DiamondRock Hospitality’s revenue was down 57.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.04 EPS. On average, equities analysts anticipate that DiamondRock Hospitality will post -0.1 earnings per share for the current year.
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 top gateway markets and destination resort locations. The Company owns 31 premium quality hotels with over 10,000 rooms. The Company has strategically positioned its hotels to be operated both under leading global brand families as well as unique boutique hotels in the lifestyle segment.
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