Latest Stocks: DiamondRock Hospitality Company (DRH) Cut to “Hold” at Zacks Investment Research

Latest Stocks: DiamondRock Hospitality Company (DRH) Cut to “Hold” at Zacks Investment Research

Zacks Investment Research downgraded shares of DiamondRock Hospitality Company (NYSE:DRH) from a buy rating to a hold rating in a report published on Wednesday.

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. “

Shares of DiamondRock Hospitality Company (NYSE:DRH) opened at 11.11 on Wednesday. The company has a 50-day moving average price of $11.11 and a 200-day moving average price of $11.13. DiamondRock Hospitality Company has a 12 month low of $8.57 and a 12 month high of $12.00. The company has a market capitalization of $2.22 billion, a P/E ratio of 20.96 and a beta of 1.28. DiamondRock Hospitality Company (NYSE:DRH) last released its quarterly earnings data on Friday, May 5th. The real estate investment trust reported $0.18 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.17 by $0.01. The company had revenue of $196.21 million for the quarter, compared to analyst estimates of $192.85 million. DiamondRock Hospitality Company had a return on equity of 6.37% and a net margin of 12.62%. The firm’s revenue for the quarter was down 7.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.21 earnings per share. On average, analysts forecast that DiamondRock Hospitality Company will post $0.49 EPS for the current fiscal year.

Shares of DiamondRock Hospitality Company (NYSE:DRH) opened at 11.11 on Wednesday. The company has a 50-day moving average price of $11.11 and a 200-day moving average price of $11.13. DiamondRock Hospitality Company has a 12 month low of $8.57 and a 12 month high of $12.00. The company has a market capitalization of $2.22 billion, a P/E ratio of 20.96 and a beta of 1.28. The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 12th. Investors of record on Friday, June 30th will be paid a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 4.50%. The ex-dividend date of this dividend is Wednesday, June 28th. DiamondRock Hospitality Company’s payout ratio is 84.75%.

A number of institutional investors have recently bought and sold shares of the company. Meeder Asset Management Inc. purchased a new position in DiamondRock Hospitality Company during the first quarter valued at about $116,000. CAMG Solamere Management LLC purchased a new position in DiamondRock Hospitality Company during the fourth quarter valued at about $122,000. Meadow Creek Investment Management LLC raised its position in DiamondRock Hospitality Company by 6.3% in the first quarter. Meadow Creek Investment Management LLC now owns 10,892 shares of the real estate investment trust’s stock valued at $122,000 after buying an additional 644 shares during the last quarter. Ronald Blue & Co. LLC raised its position in DiamondRock Hospitality Company by 4.6% in the first quarter. Ronald Blue & Co. LLC now owns 11,087 shares of the real estate investment trust’s stock valued at $124,000 after buying an additional 483 shares during the last quarter. Finally, Ladenburg Thalmann Financial Services Inc. raised its position in DiamondRock Hospitality Company by 217.4% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 10,950 shares of the real estate investment trust’s stock valued at $126,000 after buying an additional 7,500 shares during the last quarter. DiamondRock Hospitality Company Company Profile

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