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

StockNews.com lowered shares of DiamondRock Hospitality (NYSE:DRH) from a hold rating to a sell rating in a research report released on Friday morning.

DiamondRock Hospitality Stock Performance

Shares of DRH opened at $7.93 on Friday. The firm has a fifty day moving average of $8.33 and a 200-day moving average of $8.87. The company has a market cap of $1.67 billion, a price-to-earnings ratio of 22.03, a price-to-earnings-growth ratio of 4.75 and a beta of 1.60. The company has a debt-to-equity ratio of 0.71, a quick ratio of 2.04 and a current ratio of 2.04. DiamondRock Hospitality has a 1 year low of $7.33 and a 1 year high of $9.99.

DiamondRock Hospitality (NYSE:DRH) last released its quarterly earnings results on Thursday, August 1st. The real estate investment trust reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.22). The business had revenue of $309.28 million during the quarter, compared to the consensus estimate of $301.77 million. DiamondRock Hospitality had a return on equity of 4.31% and a net margin of 6.43%. The company’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.32 EPS. As a group, equities analysts anticipate that DiamondRock Hospitality will post 0.98 earnings per share for the current year.

DiamondRock Hospitality Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 12th. Stockholders of record on Friday, June 28th were issued a $0.03 dividend. The ex-dividend date was Friday, June 28th. This represents a $0.12 annualized dividend and a dividend yield of 1.51%. DiamondRock Hospitality’s dividend payout ratio (DPR) is 33.33%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of DRH. Paralel Advisors LLC acquired a new position in shares of DiamondRock Hospitality in the 4th quarter valued at $2,352,000. Natixis purchased a new position in shares of DiamondRock Hospitality during the 1st quarter valued at $728,000. Centersquare Investment Management LLC increased its stake in shares of DiamondRock Hospitality by 40.3% in the first quarter. Centersquare Investment Management LLC now owns 6,303,698 shares of the real estate investment trust’s stock worth $56,103,000 after acquiring an additional 1,810,788 shares during the last quarter. Louisiana State Employees Retirement System acquired a new stake in shares of DiamondRock Hospitality during the 4th quarter valued at about $985,000. Finally, Russell Investments Group Ltd. grew its stake in shares of DiamondRock Hospitality by 19.9% in the 1st quarter. Russell Investments Group Ltd. now owns 562,844 shares of the real estate investment trust’s stock valued at $5,409,000 after buying an additional 93,381 shares in the last quarter.

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.