Voloridge Investment Management LLC Acquires Shares of 66,860 DiamondRock Hospitality (NYSE:DRH)

Voloridge Investment Management LLC purchased a new stake in DiamondRock Hospitality (NYSE:DRH - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 66,860 shares of the real estate investment trust's stock, valued at approximately $604,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in DRH. State of Wyoming purchased a new position in shares of DiamondRock Hospitality in the fourth quarter valued at $54,000. FIL Ltd acquired a new position in DiamondRock Hospitality during the 4th quarter worth approximately $60,000. Smartleaf Asset Management LLC raised its position in shares of DiamondRock Hospitality by 278.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 9,769 shares of the real estate investment trust's stock valued at $89,000 after purchasing an additional 7,189 shares in the last quarter. Caxton Associates LP acquired a new position in shares of DiamondRock Hospitality in the 4th quarter valued at approximately $92,000. Finally, KBC Group NV increased its holdings in shares of DiamondRock Hospitality by 55.9% in the 4th quarter. KBC Group NV now owns 10,436 shares of the real estate investment trust's stock valued at $94,000 after acquiring an additional 3,744 shares during the last quarter.

DiamondRock Hospitality Stock Up 0.7%

NYSE:DRH traded up $0.06 during trading hours on Tuesday, hitting $7.64. 1,930,265 shares of the company's stock traded hands, compared to its average volume of 2,216,370. 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 twelve month low of $6.19 and a twelve month high of $10.00. The stock's fifty day moving average price is $7.36 and its two-hundred day moving average price is $8.29. The firm has a market cap of $1.58 billion, a P/E ratio of 27.27, a P/E/G ratio of 2.06 and a beta of 1.33.

DiamondRock Hospitality (NYSE:DRH - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The real estate investment trust reported $0.19 EPS for the quarter, beating analysts' consensus estimates of $0.17 by $0.02. DiamondRock Hospitality had a return on equity of 4.25% and a net margin of 6.30%. The business had revenue of $254.85 million for the quarter, compared to analyst estimates of $256.47 million. During the same quarter in the prior year, the firm posted $0.17 EPS. The firm's revenue for the quarter was up .5% on a year-over-year basis. On average, research analysts expect that DiamondRock Hospitality will post 0.96 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently commented on DRH shares. Bank of America upgraded DiamondRock Hospitality from an "underperform" rating to a "buy" rating and set a $9.50 price objective for the company in a research note on Wednesday, April 30th. Morgan Stanley cut their price objective on DiamondRock Hospitality from $9.00 to $7.00 and set an "equal weight" rating for the company in a report on Tuesday, April 22nd. Wells Fargo & Company cut their price objective on DiamondRock Hospitality from $10.50 to $9.50 and set an "equal weight" rating for the company in a report on Tuesday, February 18th. Stifel Nicolaus upped their target price on DiamondRock Hospitality from $8.00 to $8.25 and gave the company a "hold" rating in a report on Friday, May 2nd. Finally, Truist Financial reduced their target price on DiamondRock Hospitality from $10.00 to $9.00 and set a "hold" rating for the company in a report on Friday. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $8.89.

About DiamondRock Hospitality

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.