Carrera Capital Advisors Has $1.82 Million Stock Holdings in DiamondRock Hospitality Company (NYSE:DRH)

Key Points

• Carrera Capital Advisors increased its stock position in DiamondRock Hospitality by 15.4% in the first quarter, owning approximately 233,671 shares valued at $1.82 million.
• Multiple hedge funds, including Invesco Ltd. and Bank of America Corp DE, also significantly increased their stakes in DiamondRock during the fourth quarter, indicating strong institutional interest in the company.
• Analysts have mixed views on DiamondRock's stock, with Bank of America upgrading it to a "buy" with a target price of $9.50, while others have lowered their target prices, resulting in an average rating of "hold" with a target of $8.71.

Carrera Capital Advisors increased its stake in DiamondRock Hospitality Company (NYSE:DRH - Free Report) by 15.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 233,671 shares of the real estate investment trust's stock after acquiring an additional 31,178 shares during the period. Carrera Capital Advisors owned approximately 0.11% of DiamondRock Hospitality worth $1,823,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in DRH. Versant Capital Management Inc boosted its holdings in shares of DiamondRock Hospitality by 156.3% in the first quarter. Versant Capital Management Inc now owns 3,699 shares of the real estate investment trust's stock valued at $29,000 after acquiring an additional 2,256 shares in the last quarter. GF Fund Management CO. LTD. acquired a new stake in DiamondRock Hospitality during the fourth quarter valued at approximately $34,000. State of Wyoming acquired a new stake in DiamondRock Hospitality during the fourth quarter valued at approximately $54,000. FIL Ltd acquired a new stake in DiamondRock Hospitality during the fourth quarter valued at approximately $60,000. Finally, Caxton Associates LP acquired a new stake in DiamondRock Hospitality during the fourth quarter valued at approximately $92,000.

Analyst Upgrades and Downgrades

Several research firms recently commented on DRH. Truist Financial cut their target price on shares of DiamondRock Hospitality from $10.00 to $9.00 and set a "hold" rating for the company in a research note on Friday, May 30th. Morgan Stanley cut their target price on shares of DiamondRock Hospitality from $9.00 to $7.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 22nd. Stifel Nicolaus increased their target price on shares of DiamondRock Hospitality from $8.00 to $8.25 and gave the company a "hold" rating in a research note on Friday, May 2nd. Bank of America raised shares of DiamondRock Hospitality from an "underperform" rating to a "buy" rating and set a $9.50 target price for the company in a research note on Wednesday, April 30th. Finally, Wells Fargo & Company upgraded shares of DiamondRock Hospitality from a "strong sell" rating to a "hold" rating and upped their price target for the company from $7.75 to $8.25 in a research report on Tuesday, July 1st. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $8.71.

DiamondRock Hospitality Trading Down 1.2%

Shares of NYSE:DRH traded down $0.10 during mid-day trading on Thursday, hitting $7.72. The stock had a trading volume of 1,930,682 shares, compared to its average volume of 2,634,387. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.62 and a current ratio of 1.62. The company has a market cap of $1.59 billion, a PE ratio of 42.86, a P/E/G ratio of 4.59 and a beta of 1.33. DiamondRock Hospitality Company has a 12-month low of $6.18 and a 12-month high of $10.00. The company's 50 day moving average is $7.80 and its 200-day moving average is $7.90.

DiamondRock Hospitality (NYSE:DRH - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The real estate investment trust reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.02. The firm had revenue of $254.85 million for the quarter, compared to analyst estimates of $256.47 million. DiamondRock Hospitality had a net margin of 4.57% and a return on equity of 3.18%. The company's revenue for the quarter was up .5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.17 EPS. On average, sell-side analysts predict that DiamondRock Hospitality Company will post 0.96 EPS for the current year.

DiamondRock Hospitality Cuts Dividend

The business also recently disclosed a dividend, which was paid on Friday, July 11th. Shareholders of record on Tuesday, July 1st were paid a $0.08 dividend. This represents a yield of 420.0%. The ex-dividend date was Monday, June 30th. DiamondRock Hospitality's dividend payout ratio is currently 177.78%.

DiamondRock Hospitality 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 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.