Shares of DiamondRock Hospitality (NYSE:DRH) gapped up prior to trading on Monday after Deutsche Bank raised their price target on the stock from $11.00 to $12.00. The stock had previously closed at $9.83, but opened at $10.56. Deutsche Bank currently has a hold rating on the stock. DiamondRock Hospitality shares last traded at $10.15, with a volume of 2,700,137 shares trading hands.
Several other equities analysts have also weighed in on DRH. Wells Fargo & Co upgraded DiamondRock Hospitality from a “market perform” rating to an “outperform” rating and set a $11.00 price target for the company in a research note on Thursday, November 21st. ValuEngine upgraded DiamondRock Hospitality from a “sell” rating to a “hold” rating in a research note on Tuesday, January 28th. Finally, Stifel Nicolaus lifted their price target on DiamondRock Hospitality from $11.00 to $12.00 and gave the company a “buy” rating in a research note on Friday, December 20th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $11.40.
Several institutional investors have recently made changes to their positions in the stock. FMR LLC increased its stake in shares of DiamondRock Hospitality by 7.8% in the 4th quarter. FMR LLC now owns 12,931,725 shares of the real estate investment trust’s stock valued at $143,283,000 after purchasing an additional 937,426 shares in the last quarter. LSV Asset Management increased its stake in shares of DiamondRock Hospitality by 1.7% in the 4th quarter. LSV Asset Management now owns 4,988,459 shares of the real estate investment trust’s stock valued at $55,272,000 after purchasing an additional 85,200 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of DiamondRock Hospitality by 3.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,759,214 shares of the real estate investment trust’s stock valued at $41,653,000 after purchasing an additional 115,163 shares in the last quarter. Victory Capital Management Inc. increased its stake in shares of DiamondRock Hospitality by 6.3% in the 4th quarter. Victory Capital Management Inc. now owns 3,696,057 shares of the real estate investment trust’s stock valued at $35,741,000 after purchasing an additional 219,747 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of DiamondRock Hospitality by 5.6% in the 4th quarter. Geode Capital Management LLC now owns 3,656,835 shares of the real estate investment trust’s stock valued at $40,517,000 after purchasing an additional 193,884 shares in the last quarter.
The company has a 50 day moving average of $10.28 and a two-hundred day moving average of $10.17. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.25 and a current ratio of 1.76. The stock has a market cap of $2.11 billion, a PE ratio of 11.47, a price-to-earnings-growth ratio of 2.06 and a beta of 1.40.
DiamondRock Hospitality Company Profile (NYSE:DRH)
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. The Company owns 31 premium quality hotels with over 10,000 rooms. The Company has strategically positioned its hotels to be operated both under leading global brand families such as Hilton and Marriott as well as unique boutique hotels in the lifestyle segment.
