Texas Capital Securities Starts Diamondrock Hospitality (DRH) at Hold

Texas Capital Securities analyst Alex Rygiel initiates coverage on Diamondrock Hospitality (NYSE: DRH) with a Hold rating and a price target of $130.00.

The analyst comments "D.R. Horton is the largest and most geographically diverse national homebuilder, serving communities in 126 markets within 36 states. The homebuilder targets entry-level, first time move-up, active adult and luxury home buyers across a broad range of prices, with almost 70% of home closings below $400k. The company also constructs homes for the rental market and provides mortgage, title and insurance services to its customers. DHI’s size and scale provide purchasing power and construction efficiencies. With a strong balance sheet, the company is focused on cash generation and returning capital to shareholders through its dividend and significant share repurchase program. We expect DHI to continue consolidating its share in certain markets and remain the largest homebuilder in the U.S., representing approximately 14% share of new single-family homes sold."

For an analyst ratings summary and ratings history on Diamondrock Hospitality click here. For more ratings news on Diamondrock Hospitality click here.

Shares of Diamondrock Hospitality closed at $7.48 yesterday.

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