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.


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0.30 (3.56%)
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Boeing, GE stocks get a boost from upbeat news on potential COVID-19 vaccine

7:56 am ET November 16, 2020 (MarketWatch)

Shares of aerospace giant Boeing Co. (BA) ran up 4.1%, enough to pace the Dow Jones Industrial Average's premarket gainers, after Moderna Inc. (MRNA) said its COVID-19 vaccine candidate demonstrated efficacy of more than 94% (http://www.marketwatch.com/story/moderna-shares-soar-premarket-after-covid-19-vaccine-candidate-achieves-945-efficacy-in-phase-3-trial-2020-11-16). Just prior to Moderna's news, Boeing's stock was up about 1.7%. General Electric Co.'s stock (GE) surged 3.7% ahead of the open, after being up about 1.6% prior to Moderna's news. GE makes engines used in commercial airplanes. Even before Moderna's news, Vertical Research Partners analyst Robert Stallard said he was shifting to a positive stance on aerospace, as he said he believed the "tide has now turned" on COVID-19. He said that while the path of the recovery may be bumpy, he believes the overall trajectory for aviation over the next year will be positive, and that aerospace stocks are poised to do "much better" in 2021. Among others in the sector, shares of Raytheon Technologies Corp. (RTX) rallied 2.8% in premarket trading and Spirit AeroSystems Holdings Inc. (SPR) charged up 10.9%.

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

(END) Dow Jones Newswires

November 16, 2020 07:56 ET (12:56 GMT)

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