DiamondRock Hospitality (NYSE:DRH) Stock Rating Lowered by Evercore ISI

DiamondRock Hospitality (NYSE:DRH) was downgraded by equities researchers at Evercore ISI from an “outperform” rating to an “inline” rating in a note issued to investors on Friday, MarketBeat.com reports. They currently have a $10.50 target price on the real estate investment trust’s stock. Evercore ISI’s price objective suggests a potential upside of 18.51% from the stock’s current price.

Several other brokerages have also recently issued reports on DRH. Compass Point upgraded shares of DiamondRock Hospitality from a “neutral” rating to a “buy” rating and set a $10.00 price target for the company in a research report on Monday, August 5th. StockNews.com raised DiamondRock Hospitality from a “sell” rating to a “hold” rating in a research report on Tuesday, November 12th. Truist Financial reduced their price target on DiamondRock Hospitality from $11.00 to $10.00 and set a “hold” rating on the stock in a research report on Wednesday, September 4th. Finally, Wells Fargo & Company lowered their price objective on DiamondRock Hospitality from $9.50 to $9.00 and set an “equal weight” rating for the company in a research report on Friday, September 13th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $10.17.

DiamondRock Hospitality Stock Performance

Shares of DRH stock opened at $8.86 on Friday. The firm has a market capitalization of $1.84 billion, a price-to-earnings ratio of 31.64, a PEG ratio of 5.38 and a beta of 1.60. The company has a current ratio of 1.73, a quick ratio of 2.03 and a debt-to-equity ratio of 0.66. The business’s 50-day moving average price is $8.85 and its 200-day moving average price is $8.54. DiamondRock Hospitality has a 12 month low of $7.74 and a 12 month high of $9.99.

Institutional Investors Weigh In On DiamondRock Hospitality

Several institutional investors and hedge funds have recently made changes to their positions in DRH. Orion Portfolio Solutions LLC lifted its stake in DiamondRock Hospitality by 1.6% in the third quarter. Orion Portfolio Solutions LLC now owns 104,965 shares of the real estate investment trust’s stock valued at $916,000 after buying an additional 1,652 shares during the period. Evergreen Capital Management LLC lifted its position in shares of DiamondRock Hospitality by 14.4% during the 2nd quarter. Evergreen Capital Management LLC now owns 14,372 shares of the real estate investment trust’s stock valued at $122,000 after acquiring an additional 1,810 shares during the period. Louisiana State Employees Retirement System boosted its stake in DiamondRock Hospitality by 1.8% during the second quarter. Louisiana State Employees Retirement System now owns 105,700 shares of the real estate investment trust’s stock worth $893,000 after acquiring an additional 1,900 shares in the last quarter. Van ECK Associates Corp boosted its stake in DiamondRock Hospitality by 6.7% during the second quarter. Van ECK Associates Corp now owns 32,191 shares of the real estate investment trust’s stock worth $272,000 after acquiring an additional 2,028 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in DiamondRock Hospitality by 35.1% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,153 shares of the real estate investment trust’s stock worth $73,000 after purchasing an additional 2,116 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 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.