Why Shares of DiamondRock Hospitality Company Are Rising Today

Bram Berkowitz, The Motley Fool
·2-min read
Why Shares of DiamondRock Hospitality Company Are Rising Today

Shares of DiamondRock Hospitality (NYSE: DRH) traded more than 9% higher in the final hour of trading on Friday after analysts at Deutsche Bank raised their price target on the real estate investment trust (REIT). Deutsche Bank analyst Chris Woronka maintained a hold rating on the stock and raised his price target on the company from $10.22 per share to $11 per share, representing a 7.63% increase. REITs tend to own different kinds of commercial real estate including, but not limited to, office buildings, shopping centers, hospitals, retail stores, and hotels.