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

Rhumbline Advisers decreased its position in DiamondRock Hospitality (NYSE:DRH - Free Report) by 4.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 644,174 shares of the real estate investment trust's stock after selling 33,543 shares during the quarter. Rhumbline Advisers owned approximately 0.31% of DiamondRock Hospitality worth $4,973,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Versant Capital Management Inc increased its position in shares of 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 acquiring an additional 2,256 shares during the period. GF Fund Management CO. LTD. purchased a new position in shares of DiamondRock Hospitality in the fourth quarter valued at about $34,000. State of Wyoming purchased a new position in shares of DiamondRock Hospitality in the fourth quarter valued at about $54,000. FIL Ltd purchased a new position in shares of DiamondRock Hospitality in the fourth quarter valued at about $60,000. Finally, Smartleaf Asset Management LLC increased its position in shares of DiamondRock Hospitality by 278.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 9,769 shares of the real estate investment trust's stock valued at $89,000 after acquiring an additional 7,189 shares during the period.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Truist Financial decreased 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 report on Friday, May 30th. 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 cut 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. Wells Fargo & Company cut their target price on shares of 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. Finally, Evercore ISI cut 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 note on Monday, April 28th. Six 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, the stock presently has a consensus rating of "Hold" and an average target price of $8.89.

DiamondRock Hospitality Stock Up 1.6%

NYSE:DRH traded up $0.12 during mid-day trading on Monday, hitting $7.60. 3,495,328 shares of the company's stock were exchanged, compared to its average volume of 2,251,023. DiamondRock Hospitality has a one year low of $6.19 and a one year high of $10.00. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.73 and a quick ratio of 1.73. The business has a fifty day moving average price of $7.42 and a 200 day moving average price of $8.21. The company has a market cap of $1.57 billion, a PE ratio of 27.15, a P/E/G ratio of 2.06 and a beta of 1.34.

DiamondRock Hospitality (NYSE:DRH - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The real estate investment trust reported $0.19 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $256.47 million. During the same quarter in the previous year, the firm posted $0.17 earnings per share. DiamondRock Hospitality's quarterly revenue was up .5% on a year-over-year basis. Equities analysts predict that DiamondRock Hospitality will post 0.96 EPS 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.