The stock of DiamondRock Hospitality Company (NYSE:DRH) is a huge mover today! DiamondRock Hospitality Company (NYSE:DRH) has declined 2.48% since March 1, 2016 and is downtrending. It has underperformed by 11.72% the S&P500.
The move comes after 6 months positive chart setup for the $1.82B company. It was reported on Oct, 4 by Barchart.com. We have $13.30 PT which if reached, will make NYSE:DRH worth $837.20 million more.
Analysts await DiamondRock Hospitality Company (NYSE:DRH) to report earnings on November, 3. They expect $0.26 EPS, 0.00% or $0.00 from last year’s $0.26 per share. DRH’s profit will be $51.94M for 8.76 P/E if the $0.26 EPS becomes a reality. After $0.31 actual EPS reported by DiamondRock Hospitality Company for the previous quarter, Wall Street now forecasts -16.13% negative EPS growth.
DiamondRock Hospitality Company (NYSE:DRH) Ratings Coverage
Out of 7 analysts covering Diamondrock Hospitality Company (NYSE:DRH), 1 rate it a “Buy”, 1 “Sell”, while 5 “Hold”. This means 14% are positive. Diamondrock Hospitality Company has been the topic of 21 analyst reports since August 12, 2015 according to StockzIntelligence Inc. Barclays Capital upgraded it to “Equal-Weight” rating and $14 target price in Wednesday, August 12 report. The rating was maintained by Credit Suisse on Tuesday, February 16 with “Outperform”. Evercore maintained DiamondRock Hospitality Company (NYSE:DRH) on Monday, September 7 with “Hold” rating. Morgan Stanley downgraded DiamondRock Hospitality Company (NYSE:DRH) on Monday, September 26 to “Underweight” rating. The stock of DiamondRock Hospitality Company (NYSE:DRH) earned “Hold” rating by Stifel Nicolaus on Thursday, December 17. Zacks downgraded the stock to “Buy” rating in Monday, August 24 report. The stock of DiamondRock Hospitality Company (NYSE:DRH) has “Neutral” rating given on Wednesday, December 2 by Janney Capital. As per Monday, January 11, the company rating was downgraded by JMP Securities. KeyBanc Capital Markets downgraded the shares of DRH in a report on Monday, October 5 to “Sector Weight” rating. Credit Suisse upgraded the shares of DRH in a report on Thursday, August 20 to “Outperform” rating.
According to Zacks Investment Research, “DiamondRock Hospitality Company is a self-advised real estate company that owns, acquires and invests in upper upscale and upscale hotel properties located primarily in North America. To a lesser extent, it may invest, on a selective basis, in premium limited-service and extended-stay hotel properties in urban locations. The Company has a strategic acquisition sourcing relationship with Marriott International.”
Insitutional Activity: The institutional sentiment increased to 1.62 in 2016 Q2. Its up 0.27, from 1.35 in 2016Q1. The ratio increased, as 15 funds sold all DiamondRock Hospitality Company shares owned while 58 reduced positions. 33 funds bought stakes while 85 increased positions. They now own 222.51 million shares or 2.92% more from 216.20 million shares in 2016Q1.
California Public Employees Retirement Sys accumulated 0.01% or 624,878 shares. Raymond James & holds 0.01% or 240,284 shares in its portfolio. Moreover, Gemmer Asset has 0% invested in DiamondRock Hospitality Company (NYSE:DRH) for 735 shares. Barclays Public Ltd Limited Liability Company has invested 0% of its portfolio in DiamondRock Hospitality Company (NYSE:DRH). Ameriprise Financial has invested 0.01% of its portfolio in DiamondRock Hospitality Company (NYSE:DRH). Aperio Grp Inc Ltd Com owns 49,691 shares or 0% of their US portfolio. Century reported 861,458 shares or 0.01% of all its holdings. Smith Graham & Inv Advsrs Limited Partnership holds 0.76% of its portfolio in DiamondRock Hospitality Company (NYSE:DRH) for 607,589 shares. California State Teachers Retirement Sys holds 421,796 shares or 0.01% of its portfolio. Goldman Sachs Grp holds 1.29 million shares or 0% of its portfolio. Verition Fund Limited Liability last reported 0.01% of its portfolio in the stock. D E Shaw & Inc has invested 0.01% of its portfolio in DiamondRock Hospitality Company (NYSE:DRH). Fifth Third Retail Bank last reported 0% of its portfolio in the stock. The New York-based Metropolitan Life Ins Co Ny has invested 0.01% in DiamondRock Hospitality Company (NYSE:DRH). The Illinois-based Nuveen Asset Limited Liability has invested 0.14% in DiamondRock Hospitality Company (NYSE:DRH).
More recent DiamondRock Hospitality Company (NYSE:DRH) news were published by: Prnewswire.com which released: “DiamondRock Hospitality Company Reports Second Quarter 2016 Results” on August 05, 2016. Also Prnewswire.com published the news titled: “DiamondRock Completes Sale Of Hilton Garden Inn Chelsea / New York City And …” on July 14, 2016. Prnewswire.com‘s news article titled: “DiamondRock Announces Third Quarter Dividend of $0.125 Per Share” with publication date: March 20, 2016 was also an interesting one.
DRH Company Profile
DiamondRock Hospitality Company, incorporated on May 6, 2004, is a lodging-focused Maryland corporation operating as a real estate investment trust (REIT). The Firm owns a portfolio of approximately 30 hotels and resorts throughout North America and the United States Virgin Islands that consists of over 10,925 guest rooms. The Company’s primary business is to acquire, own, asset manage and renovate full-service hotel properties in the United States. The Company’s portfolio is concentrated in gateway cities and destination resort locations. The Firm conducts its business through an umbrella partnership REIT (UPREIT) in which the Company’s hotels are owned by subsidiaries of its operating partnership, DiamondRock Hospitality Limited Partnership. The Firm is the sole general partner of its operating partnership and owns either directly or indirectly, all of the limited partnership units of its operating partnership. The Firm leases all of its domestic hotels to taxable REIT subsidiary (TRS) lessees. In turn, the Company’s TRS lessees must engage a third-party management firm to manage the hotels. Each of its hotels is managed by a third party and a number of its hotels are operated under a brand owned by lodging brand companies, such as Marriott International, Inc. (Marriott), Starwood Hotels & Resorts Worldwide, Inc. (Starwood) and Hilton Worldwide (Hilton).
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