DiamondRock Hospitality (NYSE:DRH) – SunTrust Banks boosted their FY2019 earnings estimates for shares of DiamondRock Hospitality in a report issued on Friday, November 29th, Zacks Investment Research reports. SunTrust Banks analyst P. Scholes now expects that the real estate investment trust will post earnings per share of $1.04 for the year, up from their previous estimate of $1.03. SunTrust Banks also issued estimates for DiamondRock Hospitality’s Q4 2019 earnings at $0.24 EPS, Q2 2020 earnings at $0.31 EPS, Q3 2020 earnings at $0.24 EPS, Q4 2020 earnings at $0.24 EPS and FY2020 earnings at $0.96 EPS.
A number of other equities research analysts have also weighed in on DRH. Wells Fargo & Co raised shares of DiamondRock Hospitality from a “market perform” rating to an “outperform” rating and set a $11.00 target price on the stock in a report on Thursday, November 21st. ValuEngine lowered shares of DiamondRock Hospitality from a “hold” rating to a “sell” rating in a report on Wednesday, November 6th. Finally, Stifel Nicolaus boosted their price objective on shares of DiamondRock Hospitality from $11.00 to $12.00 and gave the stock a “buy” rating in a research note on Friday, December 20th. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the stock. DiamondRock Hospitality presently has an average rating of “Hold” and a consensus target price of $10.43.
Shares of NYSE:DRH traded down $0.03 during midday trading on Monday, hitting $11.14. 1,421,230 shares of the stock were exchanged, compared to its average volume of 2,316,242. The business’s 50-day moving average price is $10.48 and its 200 day moving average price is $10.07. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.25 and a current ratio of 1.25. DiamondRock Hospitality has a 12 month low of $8.71 and a 12 month high of $11.52. The stock has a market capitalization of $2.23 billion, a price-to-earnings ratio of 10.92, a P/E/G ratio of 2.14 and a beta of 1.34.
The company also recently announced a quarterly dividend, which will be paid on Monday, January 13th. Shareholders of record on Thursday, January 2nd will be given a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 4.49%. The ex-dividend date is Tuesday, December 31st. DiamondRock Hospitality’s dividend payout ratio is presently 49.02%.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Quantamental Technologies LLC acquired a new stake in shares of DiamondRock Hospitality during the second quarter worth $54,000. Ladenburg Thalmann Financial Services Inc. lifted its holdings in DiamondRock Hospitality by 67.4% in the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 8,047 shares of the real estate investment trust’s stock valued at $84,000 after buying an additional 3,241 shares during the period. Tower Research Capital LLC TRC boosted its position in DiamondRock Hospitality by 5,562.7% during the second quarter. Tower Research Capital LLC TRC now owns 8,664 shares of the real estate investment trust’s stock valued at $90,000 after acquiring an additional 8,511 shares during the last quarter. Virtu Financial LLC bought a new stake in DiamondRock Hospitality during the third quarter valued at $106,000. Finally, Moody Aldrich Partners LLC bought a new stake in DiamondRock Hospitality during the second quarter valued at $110,000.
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.