UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in DiamondRock Hospitality (NYSE:DRH - Free Report) by 3.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,279,283 shares of the real estate investment trust's stock after purchasing an additional 43,555 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.62% of DiamondRock Hospitality worth $11,552,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in DRH. JPMorgan Chase & Co. raised its holdings in shares of DiamondRock Hospitality by 18.7% during the fourth quarter. JPMorgan Chase & Co. now owns 5,716,469 shares of the real estate investment trust's stock valued at $51,620,000 after acquiring an additional 901,600 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in DiamondRock Hospitality by 45.2% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 138,327 shares of the real estate investment trust's stock valued at $1,249,000 after purchasing an additional 43,088 shares during the period. Norges Bank bought a new position in DiamondRock Hospitality in the 4th quarter worth $5,839,000. Cbre Investment Management Listed Real Assets LLC purchased a new stake in shares of DiamondRock Hospitality in the 4th quarter worth about $14,889,000. Finally, Barclays PLC boosted its stake in shares of DiamondRock Hospitality by 37.6% during the 3rd quarter. Barclays PLC now owns 368,616 shares of the real estate investment trust's stock valued at $3,219,000 after purchasing an additional 100,805 shares in the last quarter.
Analyst Upgrades and Downgrades
A number of research firms recently issued reports on DRH. Truist Financial decreased their price target 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. Stifel Nicolaus raised 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. Evercore ISI dropped their price target on DiamondRock Hospitality from $10.00 to $9.00 and set an "in-line" rating on the stock in a research report on Monday, April 28th. Bank of America upgraded DiamondRock Hospitality from an "underperform" rating to a "buy" rating and set a $9.50 price target on the stock in a research note on Wednesday, April 30th. Finally, Wells Fargo & Company lowered their price objective on DiamondRock Hospitality from $10.50 to $9.50 and set an "equal weight" rating for the company in a research note on Tuesday, February 18th. Six 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 company has a consensus rating of "Hold" and a consensus price target of $8.89.
Read Our Latest Report on DiamondRock Hospitality
DiamondRock Hospitality Price Performance
NYSE DRH traded down $0.15 on Wednesday, reaching $7.48. The company had a trading volume of 1,750,614 shares, compared to its average volume of 2,219,046. The stock has a market capitalization of $1.54 billion, a PE ratio of 26.71, a price-to-earnings-growth ratio of 2.06 and a beta of 1.33. DiamondRock Hospitality has a 12 month low of $6.19 and a 12 month high of $10.00. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.66. The firm's 50 day moving average price is $7.36 and its 200 day moving average price is $8.29.
DiamondRock Hospitality (NYSE:DRH - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The real estate investment trust reported $0.19 EPS for the quarter, beating the consensus estimate of $0.17 by $0.02. The company had revenue of $254.85 million for the quarter, compared to the consensus estimate of $256.47 million. DiamondRock Hospitality had a net margin of 6.30% and a return on equity of 4.25%. The firm's revenue was up .5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.17 EPS. As a group, equities analysts predict that DiamondRock Hospitality will post 0.96 earnings per share for the current year.
About DiamondRock Hospitality
(
Free Report)
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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