Diamondrock Hospitality (DRH) Given New $11.00 Price Target at Morgan Stanley

Diamondrock Hospitality (NYSE:DRH) had its price target upped by Morgan Stanley from $10.00 to $11.00 in a report released on Wednesday. The brokerage currently has an underweight rating on the real estate investment trust’s stock.

Other analysts have also issued reports about the stock. Boenning Scattergood set a $10.00 price objective on shares of Diamondrock Hospitality and gave the stock a sell rating in a research note on Monday, May 7th. TheStreet downgraded shares of Diamondrock Hospitality from a b- rating to a c+ rating in a report on Thursday, May 3rd. Finally, ValuEngine downgraded shares of Diamondrock Hospitality from a buy rating to a hold rating in a report on Tuesday, April 3rd. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the company’s stock. Diamondrock Hospitality has an average rating of Hold and a consensus target price of $12.00.

NYSE:DRH opened at $12.40 on Wednesday. Diamondrock Hospitality has a 1-year low of $9.87 and a 1-year high of $12.51. The stock has a market capitalization of $2.47 billion, a P/E ratio of 12.40, a price-to-earnings-growth ratio of 2.39 and a beta of 1.34. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.52.

Diamondrock Hospitality (NYSE:DRH) last released its quarterly earnings data on Thursday, May 3rd. The real estate investment trust reported $0.02 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.15 by ($0.13). Diamondrock Hospitality had a return on equity of 4.77% and a net margin of 10.21%. The business had revenue of $181.50 million during the quarter, compared to analysts’ expectations of $183.37 million. During the same period last year, the company earned $0.18 earnings per share. The firm’s revenue was down 7.5% compared to the same quarter last year. analysts predict that Diamondrock Hospitality will post 1.03 earnings per share for the current fiscal year.

In other news, Director Gilbert T. Ray sold 11,268 shares of the company’s stock in a transaction dated Wednesday, May 9th. The shares were sold at an average price of $11.74, for a total transaction of $132,286.32. Following the transaction, the director now owns 63,360 shares in the company, valued at $743,846.40. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Mark W. Brugger acquired 10,000 shares of the business’s stock in a transaction dated Friday, March 2nd. The shares were bought at an average price of $9.98 per share, for a total transaction of $99,800.00. The disclosure for this purchase can be found here. Insiders own 1.10% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Municipal Employees Retirement System of Michigan increased its holdings in shares of Diamondrock Hospitality by 5.6% during the first quarter. Municipal Employees Retirement System of Michigan now owns 80,100 shares of the real estate investment trust’s stock valued at $836,000 after acquiring an additional 4,280 shares in the last quarter. Natixis increased its holdings in shares of Diamondrock Hospitality by 43.0% during the first quarter. Natixis now owns 14,990 shares of the real estate investment trust’s stock valued at $156,000 after acquiring an additional 4,505 shares in the last quarter. Louisiana State Employees Retirement System increased its holdings in shares of Diamondrock Hospitality by 6.2% during the fourth quarter. Louisiana State Employees Retirement System now owns 86,200 shares of the real estate investment trust’s stock valued at $973,000 after acquiring an additional 5,000 shares in the last quarter. Comerica Bank increased its holdings in shares of Diamondrock Hospitality by 2.5% during the first quarter. Comerica Bank now owns 210,398 shares of the real estate investment trust’s stock valued at $2,331,000 after acquiring an additional 5,128 shares in the last quarter. Finally, Foundry Partners LLC increased its holdings in shares of Diamondrock Hospitality by 21.0% during the fourth quarter. Foundry Partners LLC now owns 30,760 shares of the real estate investment trust’s stock valued at $347,000 after acquiring an additional 5,340 shares in the last quarter.

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 top gateway markets and destination resort locations. As of February 26, 2018, the Company owns 28 premium quality hotels with over 9,600 rooms.

Analyst Recommendations for Diamondrock Hospitality (NYSE:DRH)

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