Vert Asset Management LLC Grows Position in DiamondRock Hospitality (NYSE:DRH)

Vert Asset Management LLC boosted its position in DiamondRock Hospitality (NYSE:DRH) by 7.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 88,930 shares of the real estate investment trust’s stock after acquiring an additional 6,360 shares during the quarter. Vert Asset Management LLC’s holdings in DiamondRock Hospitality were worth $687,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. GAMMA Investing LLC increased its position in shares of DiamondRock Hospitality by 1,205.7% in the 1st quarter. GAMMA Investing LLC now owns 17,849 shares of the real estate investment trust’s stock valued at $138,000 after purchasing an additional 16,482 shares during the last quarter. Versant Capital Management Inc boosted its position in shares of DiamondRock Hospitality by 156.3% during the 1st quarter. Versant Capital Management Inc now owns 3,699 shares of the real estate investment trust’s stock worth $29,000 after acquiring an additional 2,256 shares in the last quarter. GF Fund Management CO. LTD. purchased a new position in shares of DiamondRock Hospitality in the 4th quarter valued at about $34,000. GTS Securities LLC acquired a new stake in shares of DiamondRock Hospitality during the 4th quarter worth about $105,000. Finally, PharVision Advisers LLC acquired a new stake in shares of DiamondRock Hospitality during the 4th quarter worth about $98,000.

DiamondRock Hospitality Stock Up 1.5%

DRH opened at $7.63 on Monday. DiamondRock Hospitality has a 52 week low of $6.19 and a 52 week high of $10.00. The business has a 50 day moving average price of $7.35 and a two-hundred day moving average price of $8.26. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.66. The company has a market cap of $1.57 billion, a PE ratio of 27.25, a P/E/G ratio of 2.06 and a beta of 1.34.

DiamondRock Hospitality (NYSE:DRH) last released its quarterly earnings results 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 return on equity of 4.25% and a net margin of 6.30%. The business had revenue of $254.85 million during the quarter, compared to analysts’ expectations of $256.47 million. During the same quarter in the prior year, the business earned $0.17 earnings per share. The company’s quarterly revenue was up .5% compared to the same quarter last year. As a group, research analysts anticipate that DiamondRock Hospitality will post 0.96 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on DRH shares. Bank of America raised DiamondRock Hospitality from an “underperform” rating to a “buy” rating and set a $9.50 price target for the company in a report on Wednesday, April 30th. Wells Fargo & Company reduced their target price on DiamondRock Hospitality from $10.50 to $9.50 and set an “equal weight” rating for the company in a report on Tuesday, February 18th. Morgan Stanley dropped their price target on 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. Stifel Nicolaus lifted their price target on DiamondRock Hospitality from $8.00 to $8.25 and gave the stock a “hold” rating in a research report on Friday, May 2nd. Finally, Truist Financial decreased their price objective on DiamondRock Hospitality from $10.00 to $9.00 and set a “hold” rating for the company in a report on Friday, May 30th. Six analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $8.89.

About DiamondRock Hospitality

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.