Diamondrock Hospitality Company (NYSE:DRH) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Monday.
According to Zacks, “DiamondRock Hospitality Company is a self-advised real estate company that owns, acquires and invests in upper upscale and upscale hotel properties located primarily in North America. To a lesser extent, it may invest, on a selective basis, in premium limited-service and extended-stay hotel properties in urban locations. The Company has a strategic acquisition sourcing relationship with Marriott International. “
DRH has been the subject of a number of other reports. Canaccord Genuity reaffirmed a “buy” rating and issued a $13.00 target price on shares of Diamondrock Hospitality Company in a research note on Thursday, January 19th. Nomura began coverage on Diamondrock Hospitality Company in a research note on Wednesday, December 14th. They issued a “neutral” rating and a $12.00 target price for the company. Instinet began coverage on Diamondrock Hospitality Company in a research note on Wednesday, December 14th. They issued a “neutral” rating and a $12.00 target price for the company. Finally, Barclays PLC set a $11.00 target price on Diamondrock Hospitality Company and gave the stock a “buy” rating in a research note on Thursday, November 10th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $11.09.
Diamondrock Hospitality Company (NYSE:DRH) traded up 0.97% during mid-day trading on Monday, reaching $11.41. 1,574,812 shares of the company’s stock were exchanged. Diamondrock Hospitality Company has a one year low of $7.90 and a one year high of $12.00. The firm has a market capitalization of $2.29 billion, a P/E ratio of 19.67 and a beta of 1.28. The company’s 50-day moving average is $11.42 and its 200 day moving average is $10.28.
The company also recently announced a quarterly dividend, which was paid on Tuesday, January 17th. Investors of record on Friday, December 30th were issued a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 4.38%. The ex-dividend date was Wednesday, December 28th. Diamondrock Hospitality Company’s dividend payout ratio (DPR) is 84.75%.
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In related news, CFO Sean M. Mahoney sold 30,000 shares of the firm’s stock in a transaction dated Tuesday, December 13th. The stock was sold at an average price of $11.45, for a total transaction of $343,500.00. Following the completion of the transaction, the chief financial officer now directly owns 417,744 shares in the company, valued at approximately $4,783,168.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.20% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the stock. Quantitative Systematic Strategies LLC purchased a new position in shares of Diamondrock Hospitality Company during the second quarter worth approximately $171,000. Thompson Investment Management Inc. boosted its position in shares of Diamondrock Hospitality Company by 19.0% in the second quarter. Thompson Investment Management Inc. now owns 87,170 shares of the real estate investment trust’s stock valued at $787,000 after buying an additional 13,920 shares during the last quarter. Eii Capital Management Inc. boosted its position in shares of Diamondrock Hospitality Company by 319.0% in the second quarter. Eii Capital Management Inc. now owns 605,400 shares of the real estate investment trust’s stock valued at $5,467,000 after buying an additional 460,900 shares during the last quarter. Teacher Retirement System of Texas boosted its position in shares of Diamondrock Hospitality Company by 14.6% in the second quarter. Teacher Retirement System of Texas now owns 28,199 shares of the real estate investment trust’s stock valued at $255,000 after buying an additional 3,591 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of Diamondrock Hospitality Company by 3.8% in the second quarter. Dimensional Fund Advisors LP now owns 2,736,972 shares of the real estate investment trust’s stock valued at $24,715,000 after buying an additional 101,258 shares during the last quarter.
About Diamondrock Hospitality Company
DiamondRock Hospitality Company is a lodging-focused Maryland corporation operating as a real estate investment trust (REIT). The Company owns a portfolio of approximately 30 hotels and resorts throughout North America and the United States Virgin Islands that consists of over 10,925 guest rooms. Its primary business is to acquire, own, asset manage and renovate full-service hotel properties in the United States.
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