Millennium Management LLC Has $10.42 Million Stock Holdings in DiamondRock Hospitality (NYSE:DRH)

Millennium Management LLC trimmed its holdings in DiamondRock Hospitality (NYSE:DRH - Free Report) by 54.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,153,340 shares of the real estate investment trust's stock after selling 1,393,598 shares during the quarter. Millennium Management LLC owned 0.56% of DiamondRock Hospitality worth $10,415,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. Xponance Inc. boosted its position in shares of DiamondRock Hospitality by 9.9% in the fourth quarter. Xponance Inc. now owns 15,098 shares of the real estate investment trust's stock valued at $136,000 after acquiring an additional 1,360 shares during the period. Ancora Advisors LLC raised its stake in shares of DiamondRock Hospitality by 0.9% in the fourth quarter. Ancora Advisors LLC now owns 164,150 shares of the real estate investment trust's stock valued at $1,482,000 after purchasing an additional 1,490 shares in the last quarter. Vert Asset Management LLC raised its stake in shares of DiamondRock Hospitality by 2.1% in the fourth quarter. Vert Asset Management LLC now owns 82,570 shares of the real estate investment trust's stock valued at $746,000 after purchasing an additional 1,729 shares in the last quarter. Metis Global Partners LLC raised its stake in shares of DiamondRock Hospitality by 11.4% in the fourth quarter. Metis Global Partners LLC now owns 23,773 shares of the real estate investment trust's stock valued at $215,000 after purchasing an additional 2,427 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of DiamondRock Hospitality by 2.2% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 117,701 shares of the real estate investment trust's stock valued at $1,063,000 after purchasing an additional 2,501 shares in the last quarter.

Analyst Ratings Changes

A number of research analysts recently commented on DRH shares. Stifel Nicolaus upped their target price on 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 upgraded 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. Morgan Stanley cut 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. Wells Fargo & Company cut their target price 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. Finally, Evercore ISI dropped their price objective 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 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, DiamondRock Hospitality presently has an average rating of "Hold" and a consensus target price of $9.04.

DiamondRock Hospitality Price Performance

DiamondRock Hospitality stock traded down $0.04 during mid-day trading on Thursday, hitting $7.59. 418,152 shares of the company were exchanged, compared to its average volume of 2,441,599. 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 business has a fifty day moving average of $7.38 and a 200 day moving average of $8.34. DiamondRock Hospitality has a 1-year low of $6.18 and a 1-year high of $10.00. The company has a market capitalization of $1.56 billion, a PE ratio of 27.09, a price-to-earnings-growth ratio of 2.06 and a beta of 1.33.

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 (EPS) for the quarter, topping 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 firm had revenue of $254.85 million during the quarter, compared to analyst estimates of $256.47 million. During the same period in the prior year, the company posted $0.17 earnings per share. The business's revenue for the quarter was up .5% compared to the same quarter last year. As a group, sell-side analysts expect that DiamondRock Hospitality will post 0.96 earnings per share for the current year.

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.