DiamondRock Hospitality (NYSE:DRH) Price Target Lowered to $7.00 at Morgan Stanley

DiamondRock Hospitality (NYSE:DRH - Get Free Report) had its price target cut by equities researchers at Morgan Stanley from $9.00 to $7.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an "equal weight" rating on the real estate investment trust's stock. Morgan Stanley's price objective would suggest a potential upside of 0.10% from the stock's previous close.

Several other research firms also recently weighed in on DRH. Wells Fargo & Company reduced their target price on DiamondRock Hospitality from $10.50 to $9.50 and set an "equal weight" rating for the company in a report on Tuesday, February 18th. Stifel Nicolaus decreased their price objective on DiamondRock Hospitality from $9.75 to $8.00 and set a "hold" rating for the company in a report on Wednesday, April 16th. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, DiamondRock Hospitality presently has a consensus rating of "Hold" and an average price target of $9.17.

DiamondRock Hospitality Trading Up 0.3 %

NYSE DRH opened at $6.99 on Tuesday. DiamondRock Hospitality has a 12 month low of $6.19 and a 12 month high of $10.00. The company has a market capitalization of $1.46 billion, a price-to-earnings ratio of 25.13, a price-to-earnings-growth ratio of 2.06 and a beta of 1.38. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.73 and a quick ratio of 1.73. The firm's fifty day moving average price is $7.77 and its 200 day moving average price is $8.59.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in DRH. Versant Capital Management Inc increased its position in DiamondRock Hospitality by 156.3% during the 1st quarter. Versant Capital Management Inc now owns 3,699 shares of the real estate investment trust's stock worth $29,000 after purchasing an additional 2,256 shares during the period. GF Fund Management CO. LTD. acquired a new stake in shares of DiamondRock Hospitality in the fourth quarter valued at about $34,000. State of Wyoming purchased a new stake in DiamondRock Hospitality during the fourth quarter worth about $54,000. FIL Ltd acquired a new position in DiamondRock Hospitality during the fourth quarter worth about $60,000. Finally, Smartleaf Asset Management LLC lifted its position in shares of DiamondRock Hospitality by 278.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 9,769 shares of the real estate investment trust's stock valued at $89,000 after acquiring an additional 7,189 shares during the period.

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.

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