Nuveen Asset Management LLC Buys 523,903 Shares of DiamondRock Hospitality (NYSE:DRH)

Nuveen Asset Management LLC grew its holdings in DiamondRock Hospitality (NYSE:DRH - Free Report) by 78.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,188,293 shares of the real estate investment trust's stock after purchasing an additional 523,903 shares during the period. Nuveen Asset Management LLC owned about 0.57% of DiamondRock Hospitality worth $10,730,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in DRH. JPMorgan Chase & Co. increased its holdings in DiamondRock Hospitality by 18.7% in the fourth 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. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of 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 worth $1,249,000 after purchasing an additional 43,088 shares during the last quarter. Norges Bank acquired a new position in shares of DiamondRock Hospitality during the 4th quarter worth $5,839,000. Cbre Investment Management Listed Real Assets LLC bought a new position in shares of DiamondRock Hospitality during the 4th quarter valued at $14,889,000. Finally, Barclays PLC lifted its stake in shares of DiamondRock Hospitality by 37.6% in 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 during the last quarter.

Analyst Ratings Changes

DRH has been the topic of several recent research reports. Wells Fargo & Company cut their target price 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. Stifel Nicolaus boosted their target price on DiamondRock Hospitality from $8.00 to $8.25 and gave the stock a "hold" rating in a report on Friday, May 2nd. Bank of America raised shares of DiamondRock Hospitality from an "underperform" rating to a "buy" rating and set a $9.50 price target on the stock in a research report on Wednesday, April 30th. Truist Financial reduced their price objective 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. Finally, Morgan Stanley lowered their target price on shares of DiamondRock Hospitality from $9.00 to $7.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 22nd. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $8.89.

DiamondRock Hospitality Stock Performance

DRH stock traded down $0.03 on Friday, reaching $7.64. 3,427,716 shares of the company were exchanged, compared to its average volume of 2,219,422. The firm has a market capitalization of $1.58 billion, a PE ratio of 27.29, a PEG 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 stock's fifty day moving average price is $7.38 and its 200 day moving average price is $8.33. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.73 and a quick ratio of 1.73.

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