Baird buys the dip in DiamondRock Hospitality; Morgan Stanley's seen enough

• The previously red-hot lodging REIT sector has struggled over the past few weeks on a combination of perky valuations and firming expectations for interest rate hikes.
• DiamondRock (DRH +0.8%) is lower by about 15% since late January, but still ahead a little more than 10% Y/Y. Baird upgrades to Outperform from Neutral, but Morgan Stanley downgrades to Equalweight from Overweight.