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 research note issued on Friday, Marketbeat Ratings reports. They currently have a $10.50 price objective on the real estate investment trust’s stock. Evercore ISI’s price target suggests a potential upside of 16.09% from the company’s previous close.

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

DiamondRock Hospitality Price Performance

DRH opened at $9.05 on Friday. The firm has a 50-day moving average of $8.83 and a 200 day moving average of $8.54. The company has a debt-to-equity ratio of 0.66, a quick ratio of 2.03 and a current ratio of 1.73. DiamondRock Hospitality has a fifty-two week low of $7.74 and a fifty-two week high of $9.99. The firm has a market cap of $1.88 billion, a P/E ratio of 32.30, a PEG ratio of 5.38 and a beta of 1.60.

Institutional Investors Weigh In On DiamondRock Hospitality

Several large investors have recently added to or reduced their stakes in DRH. Pzena Investment Management LLC boosted its position in shares of DiamondRock Hospitality by 3.6% during the 3rd quarter. Pzena Investment Management LLC now owns 9,153,018 shares of the real estate investment trust’s stock valued at $79,906,000 after acquiring an additional 317,901 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in DiamondRock Hospitality by 2.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 4,475,664 shares of the real estate investment trust’s stock valued at $39,073,000 after purchasing an additional 103,209 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in DiamondRock Hospitality by 4.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,102,363 shares of the real estate investment trust’s stock worth $26,214,000 after buying an additional 120,228 shares in the last quarter. Victory Capital Management Inc. increased its holdings in shares of DiamondRock Hospitality by 0.9% in the 3rd quarter. Victory Capital Management Inc. now owns 2,642,787 shares of the real estate investment trust’s stock worth $23,072,000 after buying an additional 24,249 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of DiamondRock Hospitality by 1.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,081,031 shares of the real estate investment trust’s stock valued at $17,585,000 after buying an additional 25,154 shares in 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 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.