Breaking News

Over a month ago
Show Full Stories

X

To view all stories in expanded form, please subscribe.
Send Info
Hot Stocks
DiamondRock sells Frenchman's Reef resort to Fortress affiliate » 16:58
05/06/21
05/06
16:58
05/06/21
16:58
DRH

DiamondRock

$9.73 /

-0.3 (-2.99%)

DiamondRock Hospitality…

DiamondRock Hospitality Company announced that it sold the 478-room Frenchman's Reef Marriott Resort & Spa and Noni Beach, Autograph Collection project in St. Thomas, U.S.V.I. to an affiliate of Fortress Investment Group LLC. As consideration, DiamondRock has received an upfront cash payment as well as a participation right in the future profits of the hotel once certain return metrics are achieved. The resort has been closed since it experienced devastating impact from sequential hurricanes in 2017. Under Fortress ownership, the Frenchman's Reef will complete a major rebuilding project and reopen as a global destination resort. "We are extremely excited to steward this important property through the completion of its ambitious rebuilding and, ultimately, to its reopening as a global destination with unrivaled facilities and amenities," said Thomas W. Pulley, Global Head of the Fortress Credit Real Estate business. "This is a remarkable property-an irreplaceable asset that we are thrilled to add to our portfolio. We welcome the opportunity to contribute to the long-term vibrancy of the St. Thomas economy, and look forward to working closely with U.S.V.I. officials and engaging with the people of St. Thomas as an important employer."

ShowHide Related Items >><<
DRH DiamondRock
$9.73 /

-0.3 (-2.99%)

03/22/21 Baird
Hilton price target raised to $128 from $126 at Baird
03/18/21 Truist
DiamondRock price target raised to $8 from $6 at Truist
01/12/21 Raymond James
DiamondRock upgraded to Outperform on leisure exposure at Raymond James
01/12/21 Raymond James
DiamondRock upgraded to Outperform from Market Perform at Raymond James
DRH DiamondRock
$9.73 /

-0.3 (-2.99%)

Earnings
DiamondRock reports Q1 adjusted FFO (12c), consensus (15c) » 16:36
05/06/21
05/06
16:36
05/06/21
16:36
DRH

DiamondRock

$9.73 /

-0.3 (-2.99%)

Reports Q1 revenue…

Reports Q1 revenue $72.94M, consensus $67.68M. RevPAR decreased 54.4% from the comparable period of 2020. "The performance in the first quarter exceeded internal expectations as lodging demand began returning to many of our hotels, particularly in the resort segment," said CEO Mark Brugger. "As spring unfolds we continue to see lodging demand rebound as vaccinations become widely available in the United States. In addition to our solid operational performance in the first quarter, we are pleased to announce both the transaction for the Frenchman's Reef Resort development in the U.S. Virgin Islands and the pending sale of The Lexington Hotel in New York City. These two transactions will allow DiamondRock to accelerate our strategic goal of increasing the portfolio allocation to experiential, drive-to resorts and lifestyle hotels."

ShowHide Related Items >><<
DRH DiamondRock
$9.73 /

-0.3 (-2.99%)

03/22/21 Baird
Hilton price target raised to $128 from $126 at Baird
03/18/21 Truist
DiamondRock price target raised to $8 from $6 at Truist
01/12/21 Raymond James
DiamondRock upgraded to Outperform on leisure exposure at Raymond James
01/12/21 Raymond James
DiamondRock upgraded to Outperform from Market Perform at Raymond James
DRH DiamondRock
$9.73 /

-0.3 (-2.99%)

Recommendations
Hilton price target raised to $128 from $126 at Baird » 08:27
03/22/21
03/22
08:27
03/22/21
08:27
HLT

Hilton

$124.36 /

-1.29 (-1.03%)

, HGV

Hilton Grand Vacations

$39.12 /

+0.35 (+0.90%)

, DRH

DiamondRock

$10.87 /

-0.38 (-3.38%)

Baird analyst Michael…

Baird analyst Michael Bellisario believes the Hilton Grand Vacation (HGV) acquisition of DiamondRock (DRH) will be significantly accretive to Hilton's (HLT) long term earnings growth profile. He said the acquisition highlights the scalability, asset light growth potential, and strength of Hilton's platform. Bellisario reiterated his Outperform rating and raised his price target to $128 from $126 on Hilton shares.

ShowHide Related Items >><<
HLT Hilton
$124.36 /

-1.29 (-1.03%)

HGV Hilton Grand Vacations
$39.12 /

+0.35 (+0.90%)

HLT Hilton
$124.36 /

-1.29 (-1.03%)

02/22/21 Evercore ISI
Hilton price target raised to $123 from $100 at Evercore ISI
02/18/21 Truist
Hilton price target raised to $106 from $98 at Truist
02/18/21 Deutsche Bank
Hilton price target raised to $104 from $85 at Deutsche Bank
02/18/21 Macquarie
Hilton price target raised to $108 from $86 at Macquarie
HGV Hilton Grand Vacations
$39.12 /

+0.35 (+0.90%)

03/05/21 Truist
Hilton Grand Vacations price target raised to $48 from $36 at Truist
09/08/20 Goldman Sachs
Hilton Grand Vacations upgraded to Buy from Neutral at Goldman Sachs
05/21/20 Credit Suisse
Hilton Grand Vacations assumed with an Outperform at Credit Suisse
DRH DiamondRock
$10.87 /

-0.38 (-3.38%)

03/18/21 Truist
DiamondRock price target raised to $8 from $6 at Truist
01/12/21 Raymond James
DiamondRock upgraded to Outperform on leisure exposure at Raymond James
01/12/21 Raymond James
DiamondRock upgraded to Outperform from Market Perform at Raymond James
12/15/20 Citi
DiamondRock upgraded to Neutral from Sell at Citi
HLT Hilton
$124.36 /

-1.29 (-1.03%)

HGV Hilton Grand Vacations
$39.12 /

+0.35 (+0.90%)

DRH DiamondRock
$10.87 /

-0.38 (-3.38%)

HLT Hilton
$124.36 /

-1.29 (-1.03%)

HGV Hilton Grand Vacations
$39.12 /

+0.35 (+0.90%)

HLT Hilton
$124.36 /

-1.29 (-1.03%)

HLT Hilton
$124.36 /

-1.29 (-1.03%)

Recommendations
DiamondRock price target raised to $8 from $6 at Truist » 09:08
03/18/21
03/18
09:08
03/18/21
09:08
DRH

DiamondRock

$11.42 /

+0.29 (+2.61%)

Truist analyst Patrick…

Truist analyst Patrick Scholes raised the firm's price target on DiamondRock to $8 from $6 but keeps a Sell rating on the shares as part of his broader research note on Lodging REITS that updates estimates based on the group's Q4 results.

ShowHide Related Items >><<
DRH DiamondRock
$11.42 /

+0.29 (+2.61%)

01/12/21 Raymond James
DiamondRock upgraded to Outperform on leisure exposure at Raymond James
01/12/21 Raymond James
DiamondRock upgraded to Outperform from Market Perform at Raymond James
12/15/20 Citi
DiamondRock upgraded to Neutral from Sell at Citi
12/10/20 Wells Fargo
DiamondRock upgraded to Overweight with $10 target at Wells Fargo
DRH DiamondRock
$11.42 /

+0.29 (+2.61%)

Over a quarter ago
Earnings
DiamondRock reports Q4 adjusted FFO (4c), consensus (16c) » 16:28
02/24/21
02/24
16:28
02/24/21
16:28
DRH

DiamondRock

$10.22 /

+0.41 (+4.18%)

Reports Q4 revenue…

Reports Q4 revenue $59.0M, consensus $59.05M. Comparable total revenues decreased 75.2% from the comparable period of 2019. Comparable RevPAR decreased 77.1% from the comparable period of 2019. Hotel Adjusted EBITDA was ($7.6M), a 56.3% improvement from 3Q20. Adjusted EBITDA was ($14.9M), a decrease of $77.6M from 2019. "Our Q4 results put a long-awaited bookend on the most challenging year in the history of our company and industry," said CEO Mark Brugger. "I am incredibly proud of how the DiamondRock team navigated the hardships in 2020 brought on by COVID-19, working tirelessly to serve our fellow employees, valued guests and shareholders. While the path of vaccine distribution remains uncertain at this time, it is nonetheless clear that 2021 will ultimately be a year of much-anticipated recovery in the travel industry. During 2020, the company advantageously took actions to improve its portfolio by unencumbering numerous hotels of long-term management agreements and bolstering its strong balance sheet with additional liquidity in order to emerge from this period stronger, with a better portfolio, and positioned to opportunistically grow."

ShowHide Related Items >><<
DRH DiamondRock
$10.22 /

+0.41 (+4.18%)

01/12/21 Raymond James
DiamondRock upgraded to Outperform on leisure exposure at Raymond James
01/12/21 Raymond James
DiamondRock upgraded to Outperform from Market Perform at Raymond James
12/15/20 Citi
DiamondRock upgraded to Neutral from Sell at Citi
12/10/20 Wells Fargo
DiamondRock upgraded to Overweight with $10 target at Wells Fargo
DRH DiamondRock
$10.22 /

+0.41 (+4.18%)

Upgrade
DiamondRock upgraded to Outperform on leisure exposure at Raymond James » 08:26
01/12/21
01/12
08:26
01/12/21
08:26
DRH

DiamondRock

$8.25 /

-0.3 (-3.51%)

As previously reported,…

As previously reported, Raymond James analyst William Crow upgraded DiamondRock to Outperform from Market Perform with a $10 price target. The analyst, who contends that "increased leisure exposure is a winning hand for lodging REITs over the next few quarters," said he expects business and group travel to come back later and slower than previously hoped, but expects strong leisure demand to begin in the spring months and "reach a fevered pace during the summer."

ShowHide Related Items >><<
DRH DiamondRock
$8.25 /

-0.3 (-3.51%)

01/12/21 Raymond James
DiamondRock upgraded to Outperform from Market Perform at Raymond James
12/15/20 Citi
DiamondRock upgraded to Neutral from Sell at Citi
12/10/20 Wells Fargo
DiamondRock upgraded to Overweight with $10 target at Wells Fargo
12/10/20 Wells Fargo
DiamondRock upgraded to Overweight from Equal Weight at Wells Fargo
DRH DiamondRock
$8.25 /

-0.3 (-3.51%)

Upgrade
DiamondRock upgraded to Outperform from Market Perform at Raymond James » 04:49
01/12/21
01/12
04:49
01/12/21
04:49
DRH

DiamondRock

$8.25 /

-0.3 (-3.51%)

Raymond James analyst…

Raymond James analyst William Crow upgraded DiamondRock Hospitality to Outperform from Market Perform with a $10 price target.

ShowHide Related Items >><<
DRH DiamondRock
$8.25 /

-0.3 (-3.51%)

12/15/20 Citi
DiamondRock upgraded to Neutral from Sell at Citi
12/10/20 Wells Fargo
DiamondRock upgraded to Overweight with $10 target at Wells Fargo
12/10/20 Wells Fargo
DiamondRock upgraded to Overweight from Equal Weight at Wells Fargo
10/27/20 Morgan Stanley
DiamondRock upgraded to Equal Weight at Morgan Stanley
DRH DiamondRock
$8.25 /

-0.3 (-3.51%)

Upgrade
DiamondRock upgraded to Neutral from Sell at Citi » 06:37
12/15/20
12/15
06:37
12/15/20
06:37
DRH

DiamondRock

$8.12 /

-0.12 (-1.46%)

Citi analyst Smedes Rose…

Citi analyst Smedes Rose upgraded DiamondRock to Neutral from Sell with a price target of $9, up from $4.50. The company has has addressed near-term liquidity concerns and will likely be able to navigate through the tough operating environment until operating trends turn, which will take place over the course of 2021, Rose tells investors in a research note.

ShowHide Related Items >><<
DRH DiamondRock
$8.12 /

-0.12 (-1.46%)

12/10/20 Wells Fargo
DiamondRock upgraded to Overweight with $10 target at Wells Fargo
12/10/20 Wells Fargo
DiamondRock upgraded to Overweight from Equal Weight at Wells Fargo
10/27/20 Morgan Stanley
DiamondRock upgraded to Equal Weight at Morgan Stanley
10/27/20 Morgan Stanley
DiamondRock upgraded to Equal Weight from Underweight at Morgan Stanley
DRH DiamondRock
$8.12 /

-0.12 (-1.46%)

DRH DiamondRock
$8.12 /

-0.12 (-1.46%)

Upgrade
DiamondRock upgraded to Overweight with $10 target at Wells Fargo » 06:29
12/10/20
12/10
06:29
12/10/20
06:29
DRH

DiamondRock

$8.62 /

+0.19 (+2.25%)

Wells Fargo analyst Dori…

Wells Fargo analyst Dori Kesten upgraded DiamondRock to Overweight from Equal Weight with a price target of $10, up from $7. For 2021, the analyst is positive on lodging operations, with estimates above consensus, and positive on the sector's share price returns, with almost 50% of coverage Overweight rated. Lodging demand will begin to improve in Q2 of 2021, ahead of widespread inoculations, followed by an acceleration in demand in the seocnd half of the year as vaccination levels rise, Kesten tells investors in a research note. The analyst expects a 2021 "momentum shift" towards leverage, RevPAR, and transaction activity.

ShowHide Related Items >><<
DRH DiamondRock
$8.62 /

+0.19 (+2.25%)

12/10/20 Wells Fargo
DiamondRock upgraded to Overweight from Equal Weight at Wells Fargo
10/27/20 Morgan Stanley
DiamondRock upgraded to Equal Weight at Morgan Stanley
10/27/20 Morgan Stanley
DiamondRock upgraded to Equal Weight from Underweight at Morgan Stanley
10/05/20 Compass Point
DiamondRock initiated with a Neutral at Compass Point
DRH DiamondRock
$8.62 /

+0.19 (+2.25%)

DRH DiamondRock
$8.62 /

+0.19 (+2.25%)

Upgrade
DiamondRock upgraded to Overweight from Equal Weight at Wells Fargo » 06:06
12/10/20
12/10
06:06
12/10/20
06:06
DRH

DiamondRock

$8.62 /

+0.19 (+2.25%)

Wells Fargo analyst Dori…

Wells Fargo analyst Dori Kesten upgraded DiamondRock to Overweight from Equal Weight with a price target of $10, up from $7.

ShowHide Related Items >><<
DRH DiamondRock
$8.62 /

+0.19 (+2.25%)

10/27/20 Morgan Stanley
DiamondRock upgraded to Equal Weight at Morgan Stanley
10/27/20 Morgan Stanley
DiamondRock upgraded to Equal Weight from Underweight at Morgan Stanley
10/05/20 Compass Point
DiamondRock initiated with a Neutral at Compass Point
07/24/20 Truist
SunTrust cuts lodging REITs to Sell, Park Hotels double-downgraded from Buy
DRH DiamondRock
$8.62 /

+0.19 (+2.25%)

DRH DiamondRock
$8.62 /

+0.19 (+2.25%)

Get Full Fly Access

Breaking market intelligence sent straight to you
Our team of experts analyze every news story and filter out the noise to deliver real-time market moving news.
Up-to-date information on important industry events
Get real-time updates on events that are moving the market—from conferences and calls to syndicate announcements.
News focused on the companies in your portfolio
Create up to 12 portfolios with 150 stocks each, and see how active they are in market news.