Rhumbline Advisers Sells 33,543 Shares of DiamondRock Hospitality (NYSE:DRH)

Rhumbline Advisers lowered its holdings in shares of DiamondRock Hospitality (NYSE:DRH - Free Report) by 4.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 644,174 shares of the real estate investment trust's stock after selling 33,543 shares during the period. Rhumbline Advisers owned about 0.31% of DiamondRock Hospitality worth $4,973,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Versant Capital Management Inc grew its holdings in DiamondRock Hospitality by 156.3% in the first quarter. Versant Capital Management Inc now owns 3,699 shares of the real estate investment trust's stock valued at $29,000 after purchasing an additional 2,256 shares during the period. GF Fund Management CO. LTD. acquired a new position in shares of DiamondRock Hospitality during the fourth quarter worth $34,000. State of Wyoming acquired a new position in shares of DiamondRock Hospitality during the fourth quarter worth $54,000. FIL Ltd bought a new position in DiamondRock Hospitality during the 4th quarter valued at $60,000. Finally, Smartleaf Asset Management LLC grew its holdings in DiamondRock Hospitality by 278.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 9,769 shares of the real estate investment trust's stock worth $89,000 after acquiring an additional 7,189 shares in the last quarter.

DiamondRock Hospitality Stock Down 3.4%

Shares of DRH stock traded down $0.26 during trading on Friday, hitting $7.48. 2,715,889 shares of the company were exchanged, compared to its average volume of 2,245,803. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.73 and a current ratio of 1.73. The firm has a market capitalization of $1.54 billion, a price-to-earnings ratio of 26.71, a P/E/G ratio of 2.06 and a beta of 1.34. The business's 50-day simple moving average is $7.42 and its 200 day simple moving average is $8.22. DiamondRock Hospitality has a twelve month low of $6.19 and a twelve month high of $10.00.

DiamondRock Hospitality (NYSE:DRH - Get Free Report) last posted its earnings results on Thursday, May 1st. The real estate investment trust reported $0.19 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.17 by $0.02. The firm had revenue of $254.85 million during the quarter, compared to analysts' expectations of $256.47 million. DiamondRock Hospitality had a net margin of 6.30% and a return on equity of 4.25%. The company's revenue was up .5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.17 earnings per share. As a group, analysts forecast that DiamondRock Hospitality will post 0.96 EPS for the current fiscal year.

Analysts Set New Price Targets

DRH has been the topic of a number of research reports. Evercore ISI dropped 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 report on Monday, April 28th. 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. Bank of America raised shares of DiamondRock Hospitality from an "underperform" rating to a "buy" rating and set a $9.50 target price on the stock in a research note on Wednesday, April 30th. Morgan Stanley lowered their price objective 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. Finally, Truist Financial lowered their price objective on shares of DiamondRock Hospitality from $10.00 to $9.00 and set a "hold" rating on the stock in a research note on Friday, May 30th. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat, DiamondRock Hospitality presently has a consensus rating of "Hold" and an average target price of $8.89.

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.