DiamondRock Hospitality (NYSE:DRH) Price Target Cut to $10.00

DiamondRock Hospitality (NYSE:DRH) had its target price dropped by stock analysts at Truist Financial from $11.00 to $10.00 in a research note issued on Friday, FlyOnTheWall reports. Truist Financial’s target price suggests a potential upside of 23.08% from the company’s current price.

A number of other equities analysts have also commented on the stock. Morgan Stanley decreased their price target on shares of DiamondRock Hospitality from $9.00 to $8.50 and set an “equal weight” rating on the stock in a report on Friday, August 25th. StockNews.com cut DiamondRock Hospitality from a “hold” rating to a “sell” rating in a research note on Thursday, September 7th. Finally, Wells Fargo & Company lifted their price target on DiamondRock Hospitality from $9.00 to $10.00 in a research note on Wednesday, July 12th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $9.75.

DiamondRock Hospitality Stock Up 1.2 %

Shares of NYSE DRH opened at $8.13 on Friday. The business has a 50-day moving average of $8.04 and a 200-day moving average of $8.08. The firm has a market capitalization of $1.70 billion, a price-to-earnings ratio of 20.83 and a beta of 1.65. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.72. DiamondRock Hospitality has a 12 month low of $7.14 and a 12 month high of $10.02.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of DRH. Vanguard Group Inc. increased its stake in DiamondRock Hospitality by 3.2% in the 3rd quarter. Vanguard Group Inc. now owns 36,970,154 shares of the real estate investment trust’s stock worth $277,647,000 after purchasing an additional 1,162,193 shares during the period. FMR LLC increased its stake in shares of DiamondRock Hospitality by 7.3% in the first quarter. FMR LLC now owns 14,322,605 shares of the real estate investment trust’s stock worth $116,443,000 after buying an additional 980,477 shares during the period. State Street Corp raised its holdings in DiamondRock Hospitality by 0.5% during the 2nd quarter. State Street Corp now owns 13,603,078 shares of the real estate investment trust’s stock valued at $111,681,000 after buying an additional 64,600 shares during the last quarter. Principal Financial Group Inc. raised its holdings in DiamondRock Hospitality by 9.7% during the 1st quarter. Principal Financial Group Inc. now owns 9,224,929 shares of the real estate investment trust’s stock valued at $74,999,000 after buying an additional 812,067 shares during the last quarter. Finally, Pzena Investment Management LLC increased its position in shares of DiamondRock Hospitality by 45.0% in the second quarter. Pzena Investment Management LLC now owns 8,909,183 shares of the real estate investment trust’s stock valued at $71,363,000 after acquiring an additional 2,766,782 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.