Zacks Investment Research upgraded shares of DiamondRock Hospitality (NYSE:DRH) from a hold rating to a buy rating in a research note published on Wednesday morning, Zacks.com reports. Zacks Investment Research currently has $12.00 price objective on the real estate investment trust’s stock.

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. ValuEngine lowered shares of Zumiez from a hold rating to a sell rating in a report on Tuesday, July 2nd. Wells Fargo & Co raised shares of Centurylink from a market perform rating to an outperform rating and raised their target price for the company from $12.00 to $14.00 in a report on Wednesday, June 26th. Four research analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus price target of $10.19.

DRH stock opened at $10.17 on Wednesday. The firm has a fifty day simple moving average of $10.19. DiamondRock Hospitality has a fifty-two week low of $8.69 and a fifty-two week high of $12.39. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.54 and a current ratio of 1.54. The stock has a market capitalization of $2.03 billion, a price-to-earnings ratio of 9.51, a PEG ratio of 1.95 and a beta of 1.39.

DiamondRock Hospitality (NYSE:DRH) last posted its earnings results on Wednesday, May 8th. The real estate investment trust reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.14). DiamondRock Hospitality had a net margin of 10.44% and a return on equity of 4.90%. The business had revenue of $202.38 million during the quarter, compared to analysts’ expectations of $194.62 million. During the same period last year, the business posted $0.17 earnings per share. The company’s revenue for the quarter was up 11.5% compared to the same quarter last year. As a group, research analysts anticipate that DiamondRock Hospitality will post 1.03 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, July 12th. Investors of record on Friday, June 28th were given a $0.125 dividend. The ex-dividend date was Thursday, June 27th. This represents a $0.50 dividend on an annualized basis and a yield of 4.92%. DiamondRock Hospitality’s dividend payout ratio is presently 49.02%.

In related news, Director Maureen L. Mcavey sold 8,000 shares of the firm’s stock in a transaction on Friday, June 28th. The stock was sold at an average price of $10.36, for a total value of $82,880.00. Following the completion of the sale, the director now directly owns 91,688 shares in the company, valued at $949,887.68. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.90% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently modified their holdings of the stock. Quadrant Capital Group LLC lifted its position in DiamondRock Hospitality by 1,924.1% in the first quarter. Quadrant Capital Group LLC now owns 6,720 shares of the real estate investment trust’s stock worth $69,000 after buying an additional 6,388 shares during the last quarter. NumerixS Investment Technologies Inc lifted its position in DiamondRock Hospitality by 184.2% in the fourth quarter. NumerixS Investment Technologies Inc now owns 10,800 shares of the real estate investment trust’s stock worth $98,000 after buying an additional 7,000 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new stake in DiamondRock Hospitality in the fourth quarter worth $99,000. WINTON GROUP Ltd bought a new stake in DiamondRock Hospitality in the second quarter worth $112,000. Finally, Raymond James & Associates lifted its position in DiamondRock Hospitality by 20.1% in the fourth quarter. Raymond James & Associates now owns 16,161 shares of the real estate investment trust’s stock worth $147,000 after buying an additional 2,700 shares during the last quarter.

About DiamondRock Hospitality

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.

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