Zacks Investment Research upgrades DiamondRock Hospitality (NYSE: DRH) to “Buy”
DiamondRock Hospitality (NYSE: DRH) has been improved by Zacks investment research from a “keep” note to a “buy” note in a research report published on Monday, Zacks.com reports. The company currently has a price target of $ 11.00 on REIT shares. Zacks investment researchThe price target for s indicates a potential rise of 14.35% from the current share price.
According to Zacks, âDiamondRock Hospitality Company is a self-advised real estate company that owns, acquires and invests in high-end and high-end hotel properties located primarily in North America. To a lesser extent, it may invest selectively in high-end, limited-service hotel properties and for extended stays in urban areas. The Company has a strategic sourcing relationship with Marriott International. “
Several other brokerage firms have also published reports on HRD. Truist upgraded DiamondRock Hospitality from a âsellâ rating to a âconservationâ rating and set a price target of $ 8.00 for the company in a research note on Tuesday, August 17. Robert W. Baird reaffirmed a âbuyâ note on shares of DiamondRock Hospitality in a research note on Thursday, July 1. Raymond James lowered his price target on DiamondRock Hospitality from $ 11.50 to $ 10.50 and established an “outperformance” rating for the company in a research note on Friday, August 13. Finally, Truist Securities upgraded DiamondRock Hospitality from a âsellâ rating to a âcustodyâ rating and set a price target of $ 8.00 for the company in a research note on Tuesday, August 17. One investment analyst rated the stock with a sell rating, six issued a custody rating, and five issued a buy rating for the company’s stock. According to data from MarketBeat.com, the company currently has an average “Hold” rating and a consensus target price of $ 8.61.
NYSE: HRD traded up $ 0.20 during trading hours Monday, reaching $ 9.62. 1,229,636 shares of the company were traded in the hands, compared to its average volume of 1,898,797. The company has a market capitalization of $ 2.03 billion, a P / E ratio of -4.08 and a beta of 1.95. DiamondRock Hospitality has a 52 week low of $ 4.68 and a 52 week high of $ 11.48. The company’s fifty-day simple moving average is $ 8.82 and its two-hundred-day simple moving average is $ 9.61. The company has a quick ratio of 2.58, a current ratio of 2.58, and a debt ratio of 0.65.
DiamondRock Hospitality (NYSE: DRH) last released its quarterly results on Thursday, August 5. The REIT reported ($ 0.10) earnings per share (EPS) for the quarter, missing ($ 0.07) Thomson Reuters consensus estimate of ($ 0.03). DiamondRock Hospitality recorded a negative return on equity of 28.76% and a negative net margin of 155.43%. On average, analysts expect DiamondRock Hospitality to post 0.13 EPS for the current year.
Institutional investors and hedge funds have recently changed their holdings in the company. Rhumbline Advisers increased its position in DiamondRock Hospitality shares by 3.0% in Q1. Rhumbline Advisers now owns 792,912 real estate investment trust shares worth $ 8,167,000 after purchasing an additional 22,945 shares in the last quarter. Grantham Mayo Van Otterloo & Co. LLC increased its position in DiamondRock Hospitality by 2.3% in Q1. Grantham Mayo Van Otterloo & Co. LLC now owns 479,756 real estate investment trust shares valued at $ 4,941,000 after acquiring an additional 10,900 shares during the last quarter. Waterfront Capital Partners LLC purchased a new position in DiamondRock Hospitality in the 1st quarter for a value of approximately $ 7,824,000. Public Employees Retirement System of Ohio increased its position in DiamondRock Hospitality by 19.2% in Q1. The Ohio Public Employee Retirement System now holds 260,163 real estate investment trust shares valued at $ 2,680,000 after acquiring an additional 41,952 shares in the last quarter. Finally, Brinker Capital Investments LLC purchased a new position in DiamondRock Hospitality in the 1st quarter valued at approximately $ 728,000.
About DiamondRock Hospitality
DiamondRock Hospitality Co is a real estate investment trust that focuses on accommodation properties. She is involved in the acquisition, ownership, asset management and renovation of hotels and resorts. Its brands include Autograph Collection Hotels, Courtyard Marriott, Hilton Garden Inn, Hilton Hotels & Resorts, JW Marriott, and Kimpton Hotels & Restaurants.
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