Diamondrock Hospitality Co
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Real Estate : Equity Real Estate Investment Trusts (REITs) | Small Cap Value
Company profile

DiamondRock Hospitality Company is a real estate investment trust (REIT). As of December 31, 2016, the Company owned a portfolio of 26 hotels and resorts that contains 9,472 guest rooms located in 17 different markets in North America and the United States Virgin Islands. Its business is to acquire, own, asset manage and renovate hotel properties in the United States. Its portfolio is concentrated in gateway cities and destination resort locations. It conducts its business through an umbrella partnership REIT (UPREIT) in, which its hotels are owned by subsidiaries of its operating partnership, DiamondRock Hospitality Limited Partnership. The Company is the 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 taxable REIT subsidiary, Bloodstone TRS, Inc. (TRS) lessees.

Postmarket

Last Trade
Delayed
$0.00
0.00 (0.00%)
Bid
--
Ask
--
B/A Size
--

Market Hours

Closing Price
$8.72
Day's Change
0.30 (3.56%)
Bid
--
Ask
--
B/A Size
--
Day's High
8.93
Day's Low
8.40
Volume
(Heavy Day)
Volume:
9,208,675

10-day average volume:
3,600,119
9,208,675

UPDATE: Nio will be a 'winner' in EV market, analyst says

12:11 pm ET November 9, 2020 (MarketWatch)
Print

Tomi Kilgore

Stock price targets raised for Nio and XPeng, Dongfeng upgraded while BYD and Geely downgraded

Nio Inc. got a bullish endorsement Monday from J.P. Morgan analyst Rebecca Wen, as she raised her stock price target on the belief the Shanghai-based company will be a "winner" in the electric vehicle market.

Wen also raised her price target on XPeng Inc.'s stock (XPEV), as she expects the Guangdong, China-based company will win the mid- to lower-end EV market.

Nio's (NIO) price target was raised to $46 from $41 and XPeng's target was boosted to $43 from $27. Wen kept her overweight ratings on both stocks.

"We believe Nio will be a long-term winner in the premium EV space, with 30% market share by 2025," Wen wrote in a note to clients. "A higher valuation can be justified as Nio is leading the transformation of its business model in China's smart EV market -- from direct sales currently to potential monetization of both 'B' and 'C' customers through its platform and content offering in the future -- similar to the phenomenon we witness in e-commerce business now."

The stock shot up 6.8% into record territory in midday trading. The stock has skyrocketed 1,005.5% year to date through Friday. In comparison, U.S.-based rival Tesla Inc.'s stock (TSLA) has run up 422.5% this year and the S&P 500 index has gained 11.7%.

Meanwhile, XPeng shares shed 1.8% in midday trading. The stock, which went public on Aug. 27, has still soared 76.3% just this month.

Separately, Wen upgraded Dongfeng Motor Group Co. Ltd. to overweight from neutral, saying an upcoming A-share issuance, which will give the Hubei, China-based company funds to invest in new EV brand "Lantu," will be a near-term catalyst.

Meanwhile, Wen downgraded both Guangdong-based BYD Co. and Hong Kong-based Geely Automobile Holdings Ltd. (0175.HK) to neutral from overweight, citing valuation concerns.

For BYD, Wen said she likes the long-term story transforming toward a top battery maker, but "the stock now loss fairly valued to us, hence our advice to book profit and look for a better entry point," when neighborhood EV industry growth decelerates.

Wen said Geely's downgrade is a valuation call, as the stock reached her price target.

-Tomi Kilgore; 415-439-6400; AskNewswires@dowjones.com

(END) Dow Jones Newswires

November 09, 2020 12:11 ET (17:11 GMT)

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