DiamondRock Hospitality (NYSE:DRH) Shares Sold by Squarepoint Ops LLC

Squarepoint Ops LLC lessened its holdings in shares of 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 & Exchange Commission. The institutional investor owned 19,231 shares of the real estate investment trust's stock after selling 42,678 shares during the quarter. Squarepoint Ops LLC's holdings in DiamondRock Hospitality were worth $174,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the business. Invesco Ltd. grew its stake in 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 valued at $78,123,000 after purchasing an additional 323,745 shares in the last quarter. Alyeska Investment Group L.P. lifted its holdings in 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 last quarter. Bank of America Corp DE lifted its holdings in 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 last quarter. JPMorgan Chase & Co. lifted its holdings in 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 last quarter. Finally, Centersquare Investment Management LLC lifted its holdings in 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 last quarter.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Morgan Stanley reduced their target price on DiamondRock Hospitality from $9.00 to $7.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 22nd. Truist Financial cut their price target on DiamondRock Hospitality from $10.00 to $9.00 and set a "hold" rating on the stock in a report on Friday, May 30th. Wells Fargo & Company cut their price target on DiamondRock Hospitality from $10.50 to $9.50 and set an "equal weight" rating on the stock in a report on Tuesday, February 18th. Evercore ISI cut their price target on DiamondRock Hospitality from $10.00 to $9.00 and set an "in-line" rating on the stock in a report on Monday, April 28th. Finally, Stifel Nicolaus raised their price target on DiamondRock Hospitality from $8.00 to $8.25 and gave the stock a "hold" rating in a report on Friday, May 2nd. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $8.89.

DiamondRock Hospitality Trading Up 1.5%

Shares of DRH opened at $7.63 on Monday. The stock has a market cap of $1.57 billion, a PE ratio of 27.25, a PEG ratio of 2.06 and a beta of 1.34. DiamondRock Hospitality has a 1 year low of $6.19 and a 1 year high of $10.00. The stock has a 50 day simple moving average of $7.35 and a 200-day simple moving average of $8.26. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.66.

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

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.

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