Carrera Capital Advisors Has $1.82 Million Stock Position 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 position in DiamondRock Hospitality Company (NYSE:DRH - Free Report) by 15.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 233,671 shares of the real estate investment trust's stock after purchasing an additional 31,178 shares during the quarter. Carrera Capital Advisors owned approximately 0.11% of DiamondRock Hospitality worth $1,823,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Invesco Ltd. grew its position in shares of DiamondRock Hospitality by 3.9% during the 4th quarter. Invesco Ltd. now owns 8,651,539 shares of the real estate investment trust's stock worth $78,123,000 after buying an additional 323,745 shares during the period. Alyeska Investment Group L.P. grew its position in shares of DiamondRock Hospitality by 16.3% during the 4th quarter. Alyeska Investment Group L.P. now owns 8,576,077 shares of the real estate investment trust's stock worth $77,442,000 after buying an additional 1,201,955 shares during the period. Bank of America Corp DE grew its position in shares of DiamondRock Hospitality by 78.8% during the 4th quarter. Bank of America Corp DE now owns 6,953,022 shares of the real estate investment trust's stock worth $62,786,000 after buying an additional 3,064,117 shares during the period. JPMorgan Chase & Co. grew its position in shares of DiamondRock Hospitality by 18.7% during the 4th quarter. JPMorgan Chase & Co. now owns 5,716,469 shares of the real estate investment trust's stock worth $51,620,000 after buying an additional 901,600 shares during the period. Finally, Centersquare Investment Management LLC grew its position in shares of DiamondRock Hospitality by 18.8% during the 4th quarter. Centersquare Investment Management LLC now owns 5,283,922 shares of the real estate investment trust's stock worth $47,714,000 after buying an additional 834,506 shares during the period.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on DRH shares. Bank of America upgraded DiamondRock Hospitality from an "underperform" rating to a "buy" rating and set a $9.50 target price for the company in a research report on Wednesday, April 30th. Stifel Nicolaus increased their target price on DiamondRock Hospitality from $8.00 to $8.25 and gave the stock a "hold" rating in a research note on Friday, May 2nd. Morgan Stanley lowered their target price on 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. Truist Financial lowered their target price on DiamondRock Hospitality from $10.00 to $9.00 and set a "hold" rating for the company in a research note on Friday, May 30th. Finally, Evercore ISI lowered their target price on DiamondRock Hospitality from $10.00 to $9.00 and set an "in-line" rating for the company in a research note on Monday, April 28th. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $8.71.

DiamondRock Hospitality Price Performance

Shares of DRH opened at $8.12 on Friday. DiamondRock Hospitality Company has a twelve month low of $6.18 and a twelve month high of $10.00. The company has a 50 day moving average of $7.78 and a 200-day moving average of $7.91. The stock has a market capitalization of $1.67 billion, a P/E ratio of 45.08, a P/E/G ratio of 4.67 and a beta of 1.33. The company has a quick ratio of 1.62, a current ratio of 1.62 and a debt-to-equity ratio of 0.69.

DiamondRock Hospitality (NYSE:DRH - Get Free Report) last announced its earnings results on Thursday, May 1st. The real estate investment trust reported $0.19 EPS for the quarter, topping the consensus estimate of $0.17 by $0.02. DiamondRock Hospitality had a net margin of 4.57% and a return on equity of 3.18%. The business had revenue of $254.85 million during the quarter, compared to analysts' expectations of $256.47 million. During the same quarter in the prior year, the company posted $0.17 earnings per share. The firm's revenue was up .5% on a year-over-year basis. As a group, equities research analysts forecast that DiamondRock Hospitality Company will post 0.96 EPS for the current fiscal year.

DiamondRock Hospitality Cuts Dividend

The firm also recently announced a dividend, which was paid on Friday, July 11th. Investors of record on Tuesday, July 1st were issued a dividend of $0.08 per share. This represents a yield of 4.2%. The ex-dividend date of this dividend was Monday, June 30th. DiamondRock Hospitality's payout ratio is 177.78%.

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 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.

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