DiamondRock Hospitality (NYSE:DRH) Cut to Sell at StockNews.com

DiamondRock Hospitality (NYSE:DRH - Get Free Report) was downgraded by equities researchers at StockNews.com from a "hold" rating to a "sell" rating in a research note issued on Monday.

A number of other equities research analysts also recently weighed in on the company. Compass Point raised DiamondRock Hospitality from a "neutral" rating to a "buy" rating and set a $10.00 price objective on the stock in a report on Monday, August 5th. Wells Fargo & Company decreased their price objective on DiamondRock Hospitality from $9.50 to $9.00 and set an "equal weight" rating on the stock in a report on Friday, September 13th. Finally, Truist Financial decreased their price objective on DiamondRock Hospitality from $11.00 to $10.00 and set a "hold" rating on the stock in a report on Wednesday, September 4th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $9.92.

DiamondRock Hospitality Stock Performance

DRH stock traded up $0.10 during trading on Monday, reaching $8.70. 1,452,561 shares of the stock were exchanged, compared to its average volume of 1,865,845. DiamondRock Hospitality has a twelve month low of $7.74 and a twelve month high of $9.99. The company has a market capitalization of $1.80 billion, a P/E ratio of 30.00, a price-to-earnings-growth ratio of 5.03 and a beta of 1.60. The stock has a 50 day simple moving average of $8.75 and a 200-day simple moving average of $8.53. The company has a current ratio of 2.03, a quick ratio of 2.03 and a debt-to-equity ratio of 0.71.

DiamondRock Hospitality (NYSE:DRH - Get Free Report) last released its earnings results on Thursday, August 1st. The real estate investment trust reported $0.10 earnings per share for the quarter, missing analysts' consensus estimates of $0.32 by ($0.22). The firm had revenue of $309.28 million for the quarter, compared to analyst estimates of $301.77 million. DiamondRock Hospitality had a return on equity of 4.31% and a net margin of 6.43%. The firm's quarterly revenue was up 6.2% compared to the same quarter last year. During the same period last year, the business earned $0.32 earnings per share. As a group, sell-side analysts anticipate that DiamondRock Hospitality will post 0.98 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Evergreen Capital Management LLC raised its position in DiamondRock Hospitality by 14.4% in the 2nd quarter. Evergreen Capital Management LLC now owns 14,372 shares of the real estate investment trust's stock worth $122,000 after purchasing an additional 1,810 shares during the last quarter. Louisiana State Employees Retirement System raised its position in shares of DiamondRock Hospitality by 1.8% during the 2nd quarter. Louisiana State Employees Retirement System now owns 105,700 shares of the real estate investment trust's stock valued at $893,000 after acquiring an additional 1,900 shares during the last quarter. Van ECK Associates Corp raised its position in shares of DiamondRock Hospitality by 6.7% during the 2nd quarter. Van ECK Associates Corp now owns 32,191 shares of the real estate investment trust's stock valued at $272,000 after acquiring an additional 2,028 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in shares of 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 during the last quarter. Finally, ProShare Advisors LLC raised its position in shares of DiamondRock Hospitality by 7.4% during the 1st quarter. ProShare Advisors LLC now owns 42,394 shares of the real estate investment trust's stock valued at $407,000 after acquiring an additional 2,916 shares during 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.

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