DiamondRock Hospitality (NYSE:DRH) Shares Acquired by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of DiamondRock Hospitality (NYSE:DRH) by 6.6% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 95,258 shares of the real estate investment trust’s stock after acquiring an additional 5,881 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in DiamondRock Hospitality were worth $805,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in DRH. Parallel Advisors LLC increased its stake in DiamondRock Hospitality by 313.5% in the fourth quarter. Parallel Advisors LLC now owns 3,196 shares of the real estate investment trust’s stock valued at $30,000 after purchasing an additional 2,423 shares during the last quarter. Quadrant Capital Group LLC grew its position in shares of DiamondRock Hospitality by 195.7% in the 4th quarter. Quadrant Capital Group LLC now owns 3,330 shares of the real estate investment trust’s stock valued at $31,000 after buying an additional 2,204 shares during the last quarter. LDR Capital Management LLC raised its stake in DiamondRock Hospitality by 25.5% during the 1st quarter. LDR Capital Management LLC now owns 13,244 shares of the real estate investment trust’s stock worth $127,000 after acquiring an additional 2,692 shares in the last quarter. Metis Global Partners LLC lifted its position in DiamondRock Hospitality by 19.4% in the fourth quarter. Metis Global Partners LLC now owns 14,309 shares of the real estate investment trust’s stock valued at $134,000 after acquiring an additional 2,324 shares during the last quarter. Finally, First Trust Direct Indexing L.P. boosted its stake in DiamondRock Hospitality by 8.8% in the fourth quarter. First Trust Direct Indexing L.P. now owns 14,660 shares of the real estate investment trust’s stock valued at $138,000 after acquiring an additional 1,181 shares in the last quarter.

DiamondRock Hospitality Stock Down 2.9 %

DiamondRock Hospitality stock opened at $8.40 on Thursday. The stock has a market capitalization of $1.76 billion, a price-to-earnings ratio of 23.33, a PEG ratio of 4.29 and a beta of 1.60. The company has a current ratio of 2.03, a quick ratio of 2.03 and a debt-to-equity ratio of 0.71. The stock has a 50 day moving average of $8.32 and a two-hundred day moving average of $8.73. DiamondRock Hospitality has a twelve month low of $7.33 and a twelve month high of $9.99.

DiamondRock Hospitality (NYSE:DRH) last posted its quarterly earnings data on Thursday, August 1st. The real estate investment trust reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.22). DiamondRock Hospitality had a net margin of 6.43% and a return on equity of 4.31%. The firm had revenue of $309.28 million during the quarter, compared to analysts’ expectations of $301.77 million. During the same quarter last year, the business earned $0.32 earnings per share. The business’s quarterly revenue was up 6.2% on a year-over-year basis. As a group, research analysts expect that DiamondRock Hospitality will post 0.99 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Truist Financial reduced their target price on DiamondRock Hospitality from $11.00 to $10.00 and set a “hold” rating for the company in a report on Wednesday. StockNews.com raised DiamondRock Hospitality from a “sell” rating to a “hold” rating in a report on Saturday, August 10th. Finally, Compass Point raised shares of DiamondRock Hospitality from a “neutral” rating to a “buy” rating and set a $10.00 target price on the stock in a report on Monday, August 5th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, DiamondRock Hospitality currently has an average rating of “Hold” and an average price target of $10.08.

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.