DiamondRock Hospitality (NYSE:DRH) Shares Sold by Sumitomo Mitsui Trust Holdings Inc.

Sumitomo Mitsui Trust Holdings Inc. reduced its stake in shares of DiamondRock Hospitality (NYSE:DRHGet Rating) by 3.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 273,803 shares of the real estate investment trust’s stock after selling 10,358 shares during the period. Sumitomo Mitsui Trust Holdings Inc.’s holdings in DiamondRock Hospitality were worth $2,765,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in DRH. State Street Corp grew its holdings in DiamondRock Hospitality by 6.6% during the 4th quarter. State Street Corp now owns 11,990,109 shares of the real estate investment trust’s stock worth $115,225,000 after acquiring an additional 746,724 shares in the last quarter. Bank of America Corp DE grew its holdings in DiamondRock Hospitality by 63.8% during the 4th quarter. Bank of America Corp DE now owns 1,280,157 shares of the real estate investment trust’s stock worth $12,302,000 after acquiring an additional 498,533 shares in the last quarter. Hill Winds Capital LP acquired a new position in DiamondRock Hospitality during the 4th quarter worth $4,084,000. Schroder Investment Management Group grew its holdings in DiamondRock Hospitality by 11.3% during the 4th quarter. Schroder Investment Management Group now owns 3,308,325 shares of the real estate investment trust’s stock worth $31,793,000 after acquiring an additional 336,301 shares in the last quarter. Finally, Waterfront Capital Partners LLC grew its holdings in DiamondRock Hospitality by 27.8% during the 4th quarter. Waterfront Capital Partners LLC now owns 1,392,638 shares of the real estate investment trust’s stock worth $13,383,000 after acquiring an additional 302,611 shares in the last quarter. 99.54% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on DRH shares. Barclays decreased their price objective on shares of DiamondRock Hospitality from $11.00 to $10.00 and set an “overweight” rating for the company in a report on Thursday, July 7th. Truist Financial lifted their price target on shares of DiamondRock Hospitality from $9.00 to $11.00 and gave the company a “hold” rating in a report on Wednesday, June 1st. The Goldman Sachs Group lifted their price target on shares of DiamondRock Hospitality from $10.00 to $11.00 and gave the company a “sell” rating in a report on Wednesday, April 6th. Evercore ISI reaffirmed an “in-line” rating and issued a $10.00 price target on shares of DiamondRock Hospitality in a report on Monday, July 11th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on shares of DiamondRock Hospitality from $11.00 to $12.00 in a report on Wednesday, May 18th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $10.79.

DiamondRock Hospitality Trading Up 4.6 %

Shares of NYSE:DRH opened at $8.89 on Wednesday. The company has a market cap of $1.87 billion, a PE ratio of -80.82 and a beta of 1.61. The company’s 50-day moving average price is $9.19 and its 200 day moving average price is $9.59. DiamondRock Hospitality has a fifty-two week low of $7.68 and a fifty-two week high of $11.15. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 0.77.

DiamondRock Hospitality (NYSE:DRHGet Rating) last issued its quarterly earnings data on Thursday, May 5th. The real estate investment trust reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.03). The firm had revenue of $196.80 million during the quarter, compared to the consensus estimate of $179.36 million. DiamondRock Hospitality had a negative net margin of 1.98% and a negative return on equity of 0.90%. The company’s revenue for the quarter was up 170.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.12) earnings per share. Sell-side analysts anticipate that DiamondRock Hospitality will post 0.87 earnings per share for the current year.

DiamondRock Hospitality Company Profile

(Get Rating)

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 top gateway markets and destination resort locations. The Company owns 31 premium quality hotels with over 10,000 rooms. The Company has strategically positioned its hotels to be operated both under leading global brand families as well as unique boutique hotels in the lifestyle segment.

Further Reading

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Institutional Ownership by Quarter for DiamondRock Hospitality (NYSE:DRH)

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