Brokerage firm Morgan Stanley Downgrades its rating on DiamondRock Hospitality Company(NYSE:DRH). The shares have been rated Underweight. Previously, the analysts had a Equal-weight rating on the shares. The rating by Morgan Stanley was issued on Sep 26, 2016.
In a different note, On Jul 19, 2016, Deutsche Bank said it Maintains its rating on DiamondRock Hospitality Company. In the research note, the firm Lowers the price-target to $11.00 per share. The shares have been rated ‘Hold’ by the firm.
DiamondRock Hospitality Company (DRH) made into the market gainers list on Thursdays trading session with the shares advancing 0.96% or 0.09 points. Due to strong positive momentum, the stock ended at $9.44, which is also near the day’s high of $9.57. The stock began the session at $9.45 and the volume stood at 24,54,749 shares. The 52-week high of the shares is $12.84 and the 52 week low is $7.28. The company has a current market capitalization of $1,896 M and it has 20,08,88,710 shares in outstanding.
DiamondRock Hospitality Company has also declared a cash dividend of $0.1250 on Sep 13, 2016. The shares will quote ex-dividend on Sep 28, 2016 and the record date has been fixed on Sep 30, 2016. The dividend payable date has been fixed on Oct 12, 2016.
DiamondRock Hospitality Company(DRH) last announced its earnings results on Aug 5, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $256.66M. Analysts had an estimated revenue of $257.83M. Earnings per share were $0.31. Analysts had estimated an EPS of $0.32.
Several Insider Transactions has been reported to the SEC. On Mar 26, 2015, William J Tennis (EVP & General Counsel) sold 100 shares at $14.95 per share price.
DiamondRock Hospitality Company is a lodging focused Maryland corporation operating as a real estate investment trust (REIT). 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 10552 guest rooms. The Company 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. The Company 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 Company leases all of its domestic hotels to REIT subsidiary or TRS lessees. In turn the Company’s TRS lessees must engage a third-party management company to manage the hotels.