Diamondrock Hospitality Company (DRH) : Traders are bullish on Diamondrock Hospitality Company (DRH) as it has outperformed the S&P 500 by a wide margin of 3.28% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 2.08%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 2.05% in the last 1 week, and is up 3.67% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
Diamondrock Hospitality Co. is up 25.22% in the last 3-month period. Year-to-Date the stock performance stands at 11.21%. The stock has recorded a 20-day Moving Average of 4.52% and the 50-Day Moving Average is 9.15%.
Diamondrock Hospitality Company (NYSE:DRH): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $10.24 and $10.20 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $10.45. The buying momentum continued till the end and the stock did not give up its gains. It closed at $10.44, notching a gain of 1.95% for the day. The total traded volume was 1,863,522 . The stock had closed at $10.24 on the previous day.
Also, In a research note released to the investors, Deutsche Bank maintains its rating on Diamondrock Hospitality Company (NYSE:DRH).The analysts at the brokerage house have a current rating of Hold on the shares. In a recent information released to the investors, Deutsche Bank lowers the new price target from $11 per share to $10 per share. The rating by the firm was issued on July 19, 2016.
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 10,552 guest rooms. The Company conducts its business through a traditional umbrella partnership REIT, or umbrella partnership real estate investment trust (UPREIT) in , which the Companys 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 Companys TRS lessees must engage a third-party management company to manage the hotels.