10,500 Shares in DiamondRock Hospitality (NYSE:DRH) Bought by Rafferty Asset Management LLC

Rafferty Asset Management LLC bought a new position in DiamondRock Hospitality (NYSE:DRH) during the first quarter, according to its most recent disclosure with the SEC. The firm bought 10,500 shares of the real estate investment trust’s stock, valued at approximately $108,000.

Other institutional investors also recently made changes to their positions in the company. BlackRock Inc. grew its position in shares of DiamondRock Hospitality by 5.9% during the first quarter. BlackRock Inc. now owns 41,412,848 shares of the real estate investment trust’s stock worth $426,553,000 after purchasing an additional 2,308,657 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in DiamondRock Hospitality by 13.8% in the 4th quarter. JPMorgan Chase & Co. now owns 8,584,559 shares of the real estate investment trust’s stock worth $70,823,000 after purchasing an additional 1,043,643 shares during the period. Pzena Investment Management LLC boosted its stake in DiamondRock Hospitality by 1.2% in the 1st quarter. Pzena Investment Management LLC now owns 4,067,607 shares of the real estate investment trust’s stock worth $41,896,000 after purchasing an additional 46,959 shares during the period. Rothschild & Co. Asset Management US Inc. boosted its stake in DiamondRock Hospitality by 274.4% in the 4th quarter. Rothschild & Co. Asset Management US Inc. now owns 3,348,706 shares of the real estate investment trust’s stock worth $27,627,000 after purchasing an additional 2,454,230 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in DiamondRock Hospitality by 2.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,158,843 shares of the real estate investment trust’s stock worth $26,061,000 after purchasing an additional 66,445 shares during the period.

Several research analysts have weighed in on DRH shares. Truist Securities upped their price target on DiamondRock Hospitality from $6.00 to $8.00 in a research note on Thursday, March 18th. Barclays increased their target price on DiamondRock Hospitality from $9.00 to $11.00 and gave the company an “overweight” rating in a research report on Wednesday, April 28th. Morgan Stanley increased their target price on DiamondRock Hospitality from $8.00 to $9.00 and gave the company an “equal weight” rating in a research report on Monday, May 17th. Raymond James increased their target price on DiamondRock Hospitality from $10.00 to $11.50 and gave the company an “outperform” rating in a research report on Tuesday, March 2nd. Finally, Zacks Investment Research downgraded DiamondRock Hospitality from a “hold” rating to a “sell” rating in a research report on Monday, May 3rd. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $8.48.

Shares of DRH opened at $10.33 on Friday. The company has a market capitalization of $2.17 billion, a P/E ratio of -3.94 and a beta of 1.95. The stock has a fifty day moving average of $10.01. DiamondRock Hospitality has a 52-week low of $4.43 and a 52-week high of $11.48. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.62 and a current ratio of 1.62.

DiamondRock Hospitality (NYSE:DRH) last issued its quarterly earnings results on Thursday, May 6th. The real estate investment trust reported ($0.82) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.67). The company had revenue of $72.90 million during the quarter, compared to the consensus estimate of $62.26 million. DiamondRock Hospitality had a negative return on equity of 30.71% and a negative net margin of 262.15%. The firm’s quarterly revenue was down 57.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.04 earnings per share. On average, sell-side analysts anticipate that DiamondRock Hospitality will post -0.1 EPS for the current year.

DiamondRock Hospitality Company Profile

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 top gateway markets and destination resort locations. The Company owns 31 premium quality hotels with over 10,000 rooms. The Company has strategically positioned its hotels to be operated both under leading global brand families as well as unique boutique hotels in the lifestyle segment.

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Institutional Ownership by Quarter for DiamondRock Hospitality (NYSE:DRH)

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