DiamondRock Hospitality (NYSE:DRH) Raised to Hold at Wells Fargo & Company

DiamondRock Hospitality (NYSE:DRH) was upgraded by equities researchers at Wells Fargo & Company from a “strong sell” rating to a “hold” rating in a research note issued on Tuesday, MarketBeat Ratings reports. The firm currently has a $8.25 price objective on the real estate investment trust’s stock, up from their previous price objective of $7.75. Wells Fargo & Company‘s price target indicates a potential upside of 3.51% from the company’s previous close.

A number of other analysts have also recently issued reports on DRH. Morgan Stanley lowered their target price on 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. Stifel Nicolaus upped their price target on shares of DiamondRock Hospitality from $8.00 to $8.25 and gave the company a “hold” rating in a report on Friday, May 2nd. Evercore ISI lowered their price objective on shares of DiamondRock Hospitality from $10.00 to $9.00 and set an “in-line” rating for the company in a research report on Monday, April 28th. Bank of America upgraded shares of DiamondRock Hospitality from an “underperform” rating to a “buy” rating and set a $9.50 price objective on the stock in a report on Wednesday, April 30th. Finally, Truist Financial cut their price objective on shares of DiamondRock Hospitality from $10.00 to $9.00 and set a “hold” rating on the stock in a research report on Friday, May 30th. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $8.71.

DiamondRock Hospitality Trading Up 1.3%

Shares of NYSE DRH opened at $7.97 on Tuesday. DiamondRock Hospitality has a twelve month low of $6.19 and a twelve month high of $10.00. The stock has a market cap of $1.64 billion, a price-to-earnings ratio of 44.28, a P/E/G ratio of 1.97 and a beta of 1.33. The company has a quick ratio of 1.62, a current ratio of 1.62 and a debt-to-equity ratio of 0.69. The company’s fifty day moving average is $7.61 and its 200-day moving average is $8.06.

DiamondRock Hospitality (NYSE:DRH) last posted its earnings results on Thursday, May 1st. The real estate investment trust reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.02. DiamondRock Hospitality had a return on equity of 3.18% and a net margin of 4.57%. The firm had revenue of $254.85 million for the quarter, compared to analyst estimates of $256.47 million. During the same period in the previous year, the company posted $0.17 earnings per share. The company’s revenue for the quarter was up .5% on a year-over-year basis. Equities research analysts predict that DiamondRock Hospitality will post 0.96 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the business. Voya Investment Management LLC lifted its position in DiamondRock Hospitality by 5.8% during the 1st quarter. Voya Investment Management LLC now owns 665,423 shares of the real estate investment trust’s stock worth $5,137,000 after buying an additional 36,361 shares in the last quarter. Inspire Investing LLC increased its position in shares of DiamondRock Hospitality by 19.6% in the first quarter. Inspire Investing LLC now owns 52,946 shares of the real estate investment trust’s stock valued at $409,000 after acquiring an additional 8,690 shares during the last quarter. Strs Ohio acquired a new stake in shares of DiamondRock Hospitality in the first quarter valued at about $304,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in DiamondRock Hospitality by 3.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,327,841 shares of the real estate investment trust’s stock worth $10,251,000 after acquiring an additional 48,558 shares in the last quarter. Finally, United Services Automobile Association acquired a new position in DiamondRock Hospitality during the first quarter valued at approximately $91,000.

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.