Diamondrock Hospitality (NYSE:DRH) Receives a Downgrade
In an interesting research report sent to investors today, Stifel cut shares of Diamondrock Hospitality (NYSE:DRH) to a “Hold” rating from the previous “Buy” rating.
From a total of 15 analysts covering Diamondrock Hospitality Company (NYSE:DRH) stock, 7 rate it a ”Buy”, 2 a “Sell”, and 7 a ”Hold”. This means that 44% of the ratings are positive. The highest target price is $17 while the lowest target price is $9.5. The mean of all analyst targets is $13.38 with a 30.94% above today’s ($10.31) stock price. Diamondrock Hospitality Company was the topic of 10 analyst reports since August 12, 2015 according to the firm StockzIntelligence Inc. Janney Capital initiated shares on December 2 with “Neutral” rating. Barclays Capital upgraded shares to “Equal-Weight” rating and $14 target share price in a report from an August 12. Evercore maintained DRH stock in a recent report from September 7 with “Hold” rating. Finally, Credit Suisse upgraded the stock to “Outperform” rating in a report issued on an August 20.
The stock decreased 0.58% or $0.06 during the last trading session, striking $10.31. Approximately shares of stock traded hands. DiamondRock Hospitality Company (NYSE:DRH) has declined 23.63% since May 14, 2015 and is downtrending. It has underperformed by 21.37% the S&P500.
The overall sentiment of institutions has increased to 1.18 in Q2 2015. Its up 0.16, from 1.02 in 2015Q2. The ratio increased, as 20 institutions have sold all the shares of DiamondRock Hospitality Company that they owned while 64 funds have taken shares off the table. 15 funds have purchased shares for the first time while 84 added to their positions. These institutions now hold 237.01 million shares or 7.23% more than the 221.03 million shares they owned in 2015Q2.
The Fund Green Street Investors Llc currently is holding shares equating to 5.24% of its total portfolio in DiamondRock Hospitality Company representing a total of 447,600 shares. Another fund,Resolution Capital Ltd, is holding a total of 4.73 million shares equating to 4.42% of their holdings. Additionally, Redmond Asset Management Llc has a 226,490 share stake in DiamondRock Hospitality Company which represents 1.33% of their total portfolio. The Fund, Daiwa Securities Group Inc., based out of Japan, has also built up a stake in the stock, which represents a total of 1.01% of their total portfolio. Finally Cohen & Steers Inc, a fund which is based in the state of New York reported a total holdings of 21.83 million shares.
DiamondRock Hospitality Company is a lodging focused Maryland corporation operating as a real estate investment trust . The company has a market cap of $2.08 billion. As of December 31, 2014, the Company owned a portfolio of 27 hotels and resorts throughout North America and the United States Virgin Islands that consists of 10,552 guest rooms. It has 16.64 P/E ratio. The Firm conducts its business through a traditional umbrella partnership REIT, or umbrella partnership real estate investment trust (UPREIT) in , which the Company’s hotels are owned by subsidiaries of its operating partnership, DiamondRock Hospitality Limited Partnership.
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.”