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

DiamondRock Hospitality (NYSE:DRH) was downgraded by equities research analysts at Evercore ISI from an “outperform” rating to an “inline” rating in a report issued on Friday, Marketbeat.com 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 18.51% from the company’s previous close.

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

DiamondRock Hospitality Stock Performance

DRH opened at $8.86 on Friday. DiamondRock Hospitality has a 1-year low of $7.74 and a 1-year high of $9.99. The company has a market cap 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’s fifty day moving average price is $8.85 and its two-hundred day moving average price is $8.54. The company has a current ratio of 1.73, a quick ratio of 2.03 and a debt-to-equity ratio of 0.66.

Institutional Investors Weigh In On DiamondRock Hospitality

A number of large investors have recently added to or reduced their stakes in the company. Quarry LP boosted its holdings in shares of DiamondRock Hospitality by 2,093.9% in the 2nd quarter. Quarry LP now owns 3,949 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 3,769 shares in the last quarter. Headlands Technologies LLC purchased a new stake in DiamondRock Hospitality in the second quarter worth approximately $42,000. Mirae Asset Global Investments Co. Ltd. grew its position in DiamondRock Hospitality by 35.1% during the third 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. Harbor Capital Advisors Inc. purchased a new position in shares of DiamondRock Hospitality during the third quarter worth approximately $74,000. Finally, Choreo LLC purchased a new position in shares of DiamondRock Hospitality during the second quarter worth approximately $89,000.

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.