DiamondRock Hospitality (NYSE:DRH) Rating Lowered to Inline at Evercore ISI

DiamondRock Hospitality (NYSE:DRH) was downgraded by analysts at Evercore ISI from an “outperform” rating to an “inline” rating in a report issued on Friday, Marketbeat reports. They currently have a $10.50 target price on the real estate investment trust’s stock. Evercore ISI’s price target would suggest a potential upside of 16.09% from the stock’s current price.

Other research analysts have also issued reports about the company. Truist Financial lowered their price objective on DiamondRock Hospitality from $11.00 to $10.00 and set a “hold” rating for the company in a research report on Wednesday, September 4th. Compass Point upgraded DiamondRock Hospitality from a “neutral” rating to a “buy” rating and set a $10.00 price target on the stock in a report on Monday, August 5th. StockNews.com upgraded shares of DiamondRock Hospitality from a “sell” rating to a “hold” rating in a research note on Tuesday. Finally, Wells Fargo & Company cut their target price on shares of DiamondRock Hospitality from $9.50 to $9.00 and set an “equal weight” rating on the stock in a research note on Friday, September 13th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $10.17.

DiamondRock Hospitality Price Performance

Shares of NYSE DRH opened at $9.05 on Friday. The company has a market capitalization of $1.88 billion, a PE ratio of 32.30, a P/E/G ratio of 5.38 and a beta of 1.60. The company has a quick ratio of 2.03, a current ratio of 1.73 and a debt-to-equity ratio of 0.66. DiamondRock Hospitality has a twelve month low of $7.74 and a twelve month high of $9.99. The firm has a fifty day simple moving average of $8.83 and a 200 day simple moving average of $8.54.

Institutional Investors Weigh In On DiamondRock Hospitality

Institutional investors and hedge funds have recently made changes to their positions in the business. Quarry LP increased its holdings in DiamondRock Hospitality by 2,093.9% during the 2nd quarter. Quarry LP now owns 3,949 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 3,769 shares in the last quarter. Headlands Technologies LLC purchased a new stake in DiamondRock Hospitality in the 2nd quarter valued at $42,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in DiamondRock Hospitality by 35.1% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,153 shares of the real estate investment trust’s stock valued at $73,000 after acquiring an additional 2,116 shares in the last quarter. Harbor Capital Advisors Inc. purchased a new position in DiamondRock Hospitality during the 3rd quarter worth $74,000. Finally, Choreo LLC bought a new stake in shares of DiamondRock Hospitality in the 2nd quarter worth $89,000.

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 leisure destinations and top gateway markets. The Company currently owns 36 premium quality hotels with over 9,700 rooms. The Company has strategically positioned its portfolio to be operated both under leading global brand families as well as independent boutique hotels in the lifestyle segment.