DiamondRock Hospitality (NYSE:DRH) Given New $10.00 Price Target at Truist Financial

DiamondRock Hospitality (NYSE:DRH) had its price target reduced by Truist Financial from $11.00 to $10.00 in a research note published on Wednesday, Benzinga reports. Truist Financial currently has a hold rating on the real estate investment trust’s stock.

A number of other equities research analysts have also recently commented on DRH. StockNews.com raised shares of DiamondRock Hospitality from a sell rating to a hold rating in a research report on Saturday, August 10th. Compass Point raised DiamondRock Hospitality from a neutral rating to a buy rating and set a $10.00 price objective for the company in a research report on Monday, August 5th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, DiamondRock Hospitality currently has an average rating of Hold and a consensus price target of $10.08.

DiamondRock Hospitality Stock Down 2.9 %

Shares of NYSE DRH opened at $8.40 on Wednesday. DiamondRock Hospitality has a 12-month low of $7.33 and a 12-month high of $9.99. The stock’s fifty day simple moving average is $8.32 and its two-hundred day simple moving average is $8.73. The stock has a market capitalization of $1.76 billion, a PE ratio of 23.33, a price-to-earnings-growth ratio of 4.29 and a beta of 1.60. The company has a current ratio of 2.03, a quick ratio of 2.03 and a debt-to-equity ratio of 0.71.

DiamondRock Hospitality (NYSE:DRH) last issued its quarterly earnings data on Thursday, August 1st. The real estate investment trust reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.22). The company had revenue of $309.28 million for the quarter, compared to the consensus estimate of $301.77 million. DiamondRock Hospitality had a net margin of 6.43% and a return on equity of 4.31%. DiamondRock Hospitality’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.32 EPS. As a group, analysts expect that DiamondRock Hospitality will post 0.99 EPS for the current fiscal year.

Institutional Investors Weigh In On DiamondRock Hospitality

A number of large investors have recently made changes to their positions in DRH. Parallel Advisors LLC lifted its position in DiamondRock Hospitality by 313.5% during the 4th quarter. Parallel Advisors LLC now owns 3,196 shares of the real estate investment trust’s stock worth $30,000 after acquiring an additional 2,423 shares during the period. Quadrant Capital Group LLC lifted its holdings in shares of DiamondRock Hospitality by 195.7% during the fourth quarter. Quadrant Capital Group LLC now owns 3,330 shares of the real estate investment trust’s stock worth $31,000 after purchasing an additional 2,204 shares during the period. Quarry LP boosted its position in DiamondRock Hospitality by 2,093.9% in the second quarter. Quarry LP now owns 3,949 shares of the real estate investment trust’s stock valued at $33,000 after buying an additional 3,769 shares during the last quarter. Headlands Technologies LLC acquired a new position in DiamondRock Hospitality in the 2nd quarter worth approximately $42,000. Finally, Choreo LLC purchased a new position in DiamondRock Hospitality during the 2nd quarter worth approximately $89,000.

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.