Holocene Advisors LP acquired a new stake in shares of DiamondRock Hospitality (NYSE:DRH - Free Report) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 65,012 shares of the real estate investment trust's stock, valued at approximately $568,000.
Other institutional investors have also made changes to their positions in the company. Vanderbilt University purchased a new stake in DiamondRock Hospitality during the 2nd quarter worth $233,000. Louisiana State Employees Retirement System increased its position in shares of DiamondRock Hospitality by 1.8% during the second quarter. Louisiana State Employees Retirement System now owns 105,700 shares of the real estate investment trust's stock worth $893,000 after acquiring an additional 1,900 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of DiamondRock Hospitality by 1.2% in the second quarter. Bank of New York Mellon Corp now owns 2,081,031 shares of the real estate investment trust's stock worth $17,585,000 after acquiring an additional 25,154 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in DiamondRock Hospitality by 46.0% in the second quarter. Allspring Global Investments Holdings LLC now owns 67,532 shares of the real estate investment trust's stock valued at $571,000 after purchasing an additional 21,292 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in DiamondRock Hospitality by 6.6% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 95,258 shares of the real estate investment trust's stock valued at $805,000 after purchasing an additional 5,881 shares in the last quarter.
Several equities analysts have recently commented on DRH shares. Stifel Nicolaus cut DiamondRock Hospitality from a "buy" rating to a "hold" rating and reduced their target price for the company from $10.75 to $10.25 in a research note on Friday, November 22nd. StockNews.com raised shares of DiamondRock Hospitality from a "sell" rating to a "hold" rating in a report on Tuesday, November 12th. Wells Fargo & Company cut their target price on shares of DiamondRock Hospitality from $9.50 to $9.00 and set an "equal weight" rating on the stock in a research note on Friday, September 13th. Evercore ISI cut shares of DiamondRock Hospitality from an "outperform" rating to an "inline" rating and set a $10.50 price target on the stock. in a research report on Friday, November 15th. Finally, Truist Financial lowered their price objective on DiamondRock Hospitality from $11.00 to $10.00 and set a "hold" rating for the company in a report on Wednesday, September 4th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $10.13.
Get Our Latest Analysis on DRH
DiamondRock Hospitality stock opened at $9.58 on Friday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.73 and a current ratio of 1.73. DiamondRock Hospitality has a 1 year low of $7.74 and a 1 year high of $10.00. The firm's 50-day moving average is $9.02 and its 200-day moving average is $8.61. The company has a market cap of $1.99 billion, a P/E ratio of 34.21, a PEG ratio of 5.59 and a beta of 1.60.
DiamondRock Hospitality Company is a self-advised real estate investment trust (REIT) that is an owner of a leading portfolio of geographically diversified hotels concentrated in leisure destinations and top gateway markets. The Company currently owns 36 premium quality hotels with over 9,700 rooms. The Company has strategically positioned its portfolio to be operated both under leading global brand families as well as independent boutique hotels in the lifestyle segment.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected].
Before you consider DiamondRock Hospitality, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and DiamondRock Hospitality wasn't on the list.
While DiamondRock Hospitality currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.