Squarepoint Ops LLC Sells 42,678 Shares of DiamondRock Hospitality (NYSE:DRH)

Squarepoint Ops LLC reduced its position in DiamondRock Hospitality (NYSE:DRH - Free Report) by 68.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 19,231 shares of the real estate investment trust's stock after selling 42,678 shares during the period. Squarepoint Ops LLC's holdings in DiamondRock Hospitality were worth $174,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Bank of America Corp DE grew its holdings in DiamondRock Hospitality by 78.8% during the fourth 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 acquiring an additional 3,064,117 shares during the period. Cbre Investment Management Listed Real Assets LLC purchased a new stake in shares of DiamondRock Hospitality in the fourth quarter worth approximately $14,889,000. Alyeska Investment Group L.P. boosted its stake 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 valued at $77,442,000 after buying an additional 1,201,955 shares during the period. Lasalle Investment Management Securities LLC purchased a new position in DiamondRock Hospitality in the fourth quarter valued at about $9,982,000. Finally, GRS Advisors LLC acquired a new position in DiamondRock Hospitality in the fourth quarter worth approximately $9,919,000.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on DRH shares. Evercore ISI lowered their target price on shares of 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. Morgan Stanley reduced their price target on shares of DiamondRock Hospitality from $9.00 to $7.00 and set an "equal weight" rating for the company in a report on Tuesday, April 22nd. Stifel Nicolaus boosted their price objective on shares of DiamondRock Hospitality from $8.00 to $8.25 and gave the stock a "hold" rating in a report on Friday, May 2nd. Truist Financial decreased their target price on DiamondRock Hospitality from $10.00 to $9.00 and set a "hold" rating on the stock in a research report on Friday, May 30th. Finally, Wells Fargo & Company lowered their price target on DiamondRock Hospitality from $10.50 to $9.50 and set an "equal weight" rating on the stock in a research note on Tuesday, February 18th. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $8.89.

DiamondRock Hospitality Price Performance

NYSE DRH traded down $0.04 during trading on Thursday, reaching $7.73. 2,037,019 shares of the company traded hands, compared to its average volume of 2,240,076. DiamondRock Hospitality has a 1-year low of $6.19 and a 1-year high of $10.00. The company has a market cap of $1.59 billion, a price-to-earnings ratio of 27.61, a P/E/G ratio of 2.06 and a beta of 1.34. The stock's 50 day moving average price is $7.38 and its two-hundred day moving average price is $8.24. 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 (NYSE:DRH - Get Free Report) last announced 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. 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 previous year, the firm earned $0.17 EPS. DiamondRock Hospitality's quarterly revenue was up .5% on a year-over-year basis. As a group, analysts anticipate that DiamondRock Hospitality will post 0.96 EPS for the current year.

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.