Summit Global Investments purchased a new stake in DiamondRock Hospitality Company (NYSE:DRH – Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 62,984 shares of the real estate investment trust’s stock, valued at approximately $590,000.
Other hedge funds have also bought and sold shares of the company. First Horizon Corp grew its stake in shares of DiamondRock Hospitality by 54.9% during the 4th quarter. First Horizon Corp now owns 3,214 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 1,139 shares during the period. ProShare Advisors LLC boosted its holdings in DiamondRock Hospitality by 3.1% during the fourth quarter. ProShare Advisors LLC now owns 40,041 shares of the real estate investment trust’s stock worth $359,000 after buying an additional 1,203 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in DiamondRock Hospitality by 32.5% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,990 shares of the real estate investment trust’s stock worth $54,000 after buying an additional 1,470 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in DiamondRock Hospitality by 77.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 3,436 shares of the real estate investment trust’s stock valued at $31,000 after buying an additional 1,498 shares during the period. Finally, Gallacher Capital Management LLC grew its position in DiamondRock Hospitality by 5.8% during the first quarter. Gallacher Capital Management LLC now owns 27,509 shares of the real estate investment trust’s stock valued at $258,000 after buying an additional 1,504 shares during the period.
DiamondRock Hospitality Stock Performance
NYSE:DRH opened at $12.90 on Thursday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.64 and a current ratio of 1.64. The company has a fifty day moving average of $11.72 and a two-hundred day moving average of $10.44. The stock has a market capitalization of $2.64 billion, a PE ratio of 51.60, a P/E/G ratio of 4.50 and a beta of 0.98. DiamondRock Hospitality Company has a fifty-two week low of $7.45 and a fifty-two week high of $13.05.
DiamondRock Hospitality Announces Dividend
Insider Transactions at DiamondRock Hospitality
In other DiamondRock Hospitality news, Director Michael A. Hartmeier sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $10.46, for a total transaction of $209,200.00. Following the completion of the sale, the director directly owned 95,354 shares in the company, valued at approximately $997,402.84. The trade was a 17.34% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kathleen Merrill sold 20,000 shares of the stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $11.88, for a total value of $237,600.00. Following the transaction, the director directly owned 84,335 shares of the company’s stock, valued at $1,001,899.80. The trade was a 19.17% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.90% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of research analysts have weighed in on the stock. Truist Financial lifted their price objective on shares of DiamondRock Hospitality from $11.00 to $12.00 and gave the company a “buy” rating in a report on Tuesday, May 26th. LADENBURG THALM/SH SH increased their target price on shares of DiamondRock Hospitality from $13.00 to $14.00 and gave the stock a “buy” rating in a research note on Thursday, June 18th. Citigroup raised their target price on DiamondRock Hospitality from $11.00 to $13.00 and gave the company a “neutral” rating in a research report on Wednesday. Stifel Nicolaus set a $12.25 price target on DiamondRock Hospitality in a research note on Thursday, June 4th. Finally, Morgan Stanley upped their price target on DiamondRock Hospitality from $9.60 to $10.00 and gave the stock an “equal weight” rating in a report on Friday, July 17th. Four investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $12.03.
Check Out Our Latest Analysis on DiamondRock Hospitality
DiamondRock Hospitality Profile
DiamondRock Hospitality Company is a real estate investment trust (REIT) that acquires, owns and manages a diversified portfolio of upscale, full-service hotels in urban gateway markets across the United States. Established in 2004 and headquartered in Bethesda, Maryland, the company focuses on investing in high-quality lodging properties that cater to both business and leisure travelers. Its assets are positioned in key metropolitan areas, enabling DiamondRock to benefit from strong demand drivers such as corporate travel, group conventions and resort leisure stays.
The company’s portfolio includes full-service hotels offering a broad range of amenities, including guest rooms, on-site food and beverage outlets, meeting and event space, fitness centers and spa services.
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