DiamondRock Hospitality (NYSE:DRH) – Equities research analysts at SunTrust Banks reduced their FY2018 earnings per share estimates for shares of DiamondRock Hospitality in a research report issued on Wednesday, November 14th. SunTrust Banks analyst P. Scholes now anticipates that the real estate investment trust will earn $1.00 per share for the year, down from their previous estimate of $1.02. SunTrust Banks also issued estimates for DiamondRock Hospitality’s Q4 2018 earnings at $0.24 EPS and Q2 2019 earnings at $0.28 EPS.
DiamondRock Hospitality (NYSE:DRH) last posted its quarterly earnings data on Monday, November 5th. The real estate investment trust reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by ($0.12). DiamondRock Hospitality had a return on equity of 4.74% and a net margin of 10.45%. The business had revenue of $220.81 million for the quarter, compared to analyst estimates of $227.40 million. During the same quarter last year, the business earned $0.25 EPS. DiamondRock Hospitality’s revenue for the quarter was down 1.2% compared to the same quarter last year.
Several other equities research analysts have also recently issued reports on DRH. Zacks Investment Research upgraded DiamondRock Hospitality from a “sell” rating to a “hold” rating in a report on Monday, July 23rd. Citigroup increased their target price on DiamondRock Hospitality from $11.00 to $12.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 8th. Wells Fargo & Co lowered DiamondRock Hospitality from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $14.00 to $11.00 in a research report on Wednesday, October 31st. ValuEngine lowered DiamondRock Hospitality from a “hold” rating to a “sell” rating in a research report on Tuesday, November 6th. Finally, TheStreet lowered DiamondRock Hospitality from a “b-” rating to a “c” rating in a research report on Tuesday, November 6th. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $11.89.
DRH stock opened at $10.54 on Friday. DiamondRock Hospitality has a 52-week low of $9.87 and a 52-week high of $12.99. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.48 and a current ratio of 2.48. The firm has a market cap of $2.18 billion, a PE ratio of 10.53, a price-to-earnings-growth ratio of 3.14 and a beta of 1.37.
Several institutional investors and hedge funds have recently modified their holdings of DRH. Principal Financial Group Inc. raised its position in shares of DiamondRock Hospitality by 3.1% in the 1st quarter. Principal Financial Group Inc. now owns 1,571,436 shares of the real estate investment trust’s stock worth $16,406,000 after buying an additional 47,627 shares during the period. James Investment Research Inc. purchased a new position in shares of DiamondRock Hospitality in the 2nd quarter worth $2,245,000. Foundry Partners LLC raised its position in shares of DiamondRock Hospitality by 19.3% in the 2nd quarter. Foundry Partners LLC now owns 36,685 shares of the real estate investment trust’s stock worth $450,000 after buying an additional 5,925 shares during the period. Acadian Asset Management LLC purchased a new position in shares of DiamondRock Hospitality in the 2nd quarter worth $318,000. Finally, Resolution Capital Ltd raised its position in shares of DiamondRock Hospitality by 14.6% in the 2nd quarter. Resolution Capital Ltd now owns 8,149,876 shares of the real estate investment trust’s stock worth $100,080,000 after buying an additional 1,040,600 shares during the period.
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 top gateway markets and destination resort locations. The Company owns 30 premium quality hotels with over 9,900 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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