DiamondRock Hospitality (NYSE:DRH) Shares Purchased by Glenmede Trust Co. NA

Glenmede Trust Co. NA boosted its holdings in DiamondRock Hospitality (NYSE:DRH) by 100.0% during the third quarter, Holdings Channel reports. The institutional investor owned 67,677 shares of the real estate investment trust’s stock after buying an additional 33,835 shares during the period. Glenmede Trust Co. NA’s holdings in DiamondRock Hospitality were worth $591,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Quarry LP boosted its stake in DiamondRock Hospitality by 2,093.9% in the 2nd quarter. Quarry LP now owns 3,949 shares of the real estate investment trust’s stock worth $33,000 after buying an additional 3,769 shares during the last quarter. Headlands Technologies LLC acquired a new position in shares of DiamondRock Hospitality in the 2nd quarter valued at about $42,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of DiamondRock Hospitality by 35.1% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,153 shares of the real estate investment trust’s stock valued at $73,000 after purchasing an additional 2,116 shares in the last quarter. Harbor Capital Advisors Inc. acquired a new position in shares of DiamondRock Hospitality in the 3rd quarter valued at about $74,000. Finally, Choreo LLC acquired a new position in shares of DiamondRock Hospitality in the 2nd quarter valued at about $89,000.

DiamondRock Hospitality Stock Performance

Shares of NYSE:DRH opened at $9.75 on Wednesday. The company has a market cap of $2.02 billion, a P/E ratio of 34.80, a PEG ratio of 5.44 and a beta of 1.60. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.73 and a current ratio of 1.73. DiamondRock Hospitality has a one year low of $7.74 and a one year high of $10.00. The business’s 50-day simple moving average is $8.99 and its 200 day simple moving average is $8.59.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on DRH. Stifel Nicolaus lowered DiamondRock Hospitality from a “buy” rating to a “hold” rating and reduced their price objective for the company from $10.75 to $10.25 in a research note on Friday, November 22nd. Evercore ISI lowered DiamondRock Hospitality from an “outperform” rating to an “inline” rating and set a $10.50 price objective on the stock. in a research note on Friday, November 15th. StockNews.com raised DiamondRock Hospitality from a “sell” rating to a “hold” rating in a research note on Tuesday, November 12th. Truist Financial reduced their price objective on DiamondRock Hospitality from $11.00 to $10.00 and set a “hold” rating on the stock in a research note on Wednesday, September 4th. Finally, Wells Fargo & Company reduced their price objective on DiamondRock Hospitality from $9.50 to $9.00 and set an “equal weight” rating on the stock in a research note on Friday, September 13th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, DiamondRock Hospitality currently has an average rating of “Hold” and a consensus price target of $10.13.

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.