Pzena Investment Management LLC Has $7,705,000 Stake in DiamondRock Hospitality Co. (DRH)
Pzena Investment Management LLC raised its stake in DiamondRock Hospitality Co. (NYSE:DRH) by 3.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 846,653 shares of the real estate investment trust’s stock after buying an additional 30,037 shares during the period. Pzena Investment Management LLC owned approximately 0.42% of DiamondRock Hospitality worth $7,705,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also made changes to their positions in DRH. Geode Capital Management LLC raised its position in DiamondRock Hospitality by 2.5% in the first quarter. Geode Capital Management LLC now owns 1,576,686 shares of the real estate investment trust’s stock worth $15,956,000 after buying an additional 37,999 shares during the last quarter. Legal & General Group Plc raised its position in DiamondRock Hospitality by 4.4% in the first quarter. Legal & General Group Plc now owns 472,858 shares of the real estate investment trust’s stock worth $4,781,000 after buying an additional 19,766 shares during the last quarter. Barclays PLC raised its position in DiamondRock Hospitality by 0.6% in the first quarter. Barclays PLC now owns 131,900 shares of the real estate investment trust’s stock worth $1,319,000 after buying an additional 801 shares during the last quarter. Squarepoint Ops LLC purchased a new position in DiamondRock Hospitality during the first quarter worth about $564,000. Finally, Boothbay Fund Management LLC raised its position in DiamondRock Hospitality by 6.1% in the first quarter. Boothbay Fund Management LLC now owns 10,983 shares of the real estate investment trust’s stock worth $111,000 after buying an additional 636 shares during the last quarter.
Shares of DiamondRock Hospitality Co. (NYSE:DRH) traded up 1.95% during trading on Tuesday, reaching $10.45. 1,617,325 shares of the company traded hands. The stock has a market capitalization of $2.09 billion, a PE ratio of 18.02 and a beta of 1.25. The company has a 50-day moving average of $9.53 and a 200-day moving average of $9.50. DiamondRock Hospitality Co. has a 12 month low of $7.28 and a 12 month high of $11.28.
DiamondRock Hospitality (NYSE:DRH) last released its quarterly earnings data on Wednesday, November 9th. The real estate investment trust reported $0.26 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.25 by $0.01. DiamondRock Hospitality had a net margin of 12.62% and a return on equity of 6.37%. The firm had revenue of $220.24 million for the quarter, compared to the consensus estimate of $225.08 million. During the same period in the previous year, the company earned $0.26 earnings per share. The company’s quarterly revenue was down 7.7% on a year-over-year basis. Analysts forecast that DiamondRock Hospitality Co. will post $1.01 earnings per share for the current fiscal year.
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A number of research firms recently issued reports on DRH. Citigroup Inc. raised their target price on shares of DiamondRock Hospitality from $9.00 to $10.00 and gave the company a “neutral” rating in a research note on Wednesday, October 5th. Barclays PLC reiterated a “buy” rating and issued a $11.00 target price on shares of DiamondRock Hospitality in a research note on Thursday, August 11th. Morgan Stanley lowered shares of DiamondRock Hospitality from an “equal weight” rating to an “underweight” rating and lowered their target price for the company from $10.00 to $8.00 in a research note on Monday, September 26th. Zacks Investment Research upgraded shares of DiamondRock Hospitality from a “sell” rating to a “hold” rating in a research note on Tuesday, September 13th. Finally, Canaccord Genuity reiterated a “buy” rating and issued a $12.00 target price on shares of DiamondRock Hospitality in a research note on Wednesday, November 9th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company. DiamondRock Hospitality presently has a consensus rating of “Hold” and a consensus target price of $10.60.
About DiamondRock Hospitality
DiamondRock Hospitality Company is a lodging-focused Maryland corporation operating as a real estate investment trust (REIT). The Company owns a portfolio of approximately 30 hotels and resorts throughout North America and the United States Virgin Islands that consists of over 10,925 guest rooms. Its primary business is to acquire, own, asset manage and renovate full-service hotel properties in the United States.
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