Virtus Advisers LLC Buys 67,965 Shares of DiamondRock Hospitality Company $DRH

Virtus Advisers LLC bought a new stake in shares of DiamondRock Hospitality Company (NYSE:DRH) during the 3rd quarter, HoldingsChannel reports. The institutional investor bought 67,965 shares of the real estate investment trust’s stock, valued at approximately $840,000.

Several other large investors also recently made changes to their positions in DRH. Russell Investments Group Ltd. raised its stake in shares of DiamondRock Hospitality by 2.3% in the 3rd quarter. Russell Investments Group Ltd. now owns 987,990 shares of the real estate investment trust’s stock valued at $12,212,000 after acquiring an additional 22,514 shares in the last quarter. Eurizon Capital SGR S.p.A. bought a new stake in DiamondRock Hospitality during the third quarter worth approximately $25,000. Maryland State Retirement & Pension System boosted its position in DiamondRock Hospitality by 53.3% during the third quarter. Maryland State Retirement & Pension System now owns 45,911 shares of the real estate investment trust’s stock worth $567,000 after purchasing an additional 15,956 shares during the period. Ritholtz Wealth Management acquired a new position in DiamondRock Hospitality during the third quarter valued at approximately $373,000. Finally, Illinois Municipal Retirement Fund grew its holdings in DiamondRock Hospitality by 4.9% during the third quarter. Illinois Municipal Retirement Fund now owns 106,997 shares of the real estate investment trust’s stock valued at $1,322,000 after purchasing an additional 4,967 shares during the last quarter.

DiamondRock Hospitality Stock Performance

NYSE:DRH traded up $0.02 during mid-day trading on Friday, hitting $14.40. 2,490,512 shares of the company’s stock traded hands, compared to its average volume of 2,587,809. The firm has a 50 day moving average of $13.16 and a two-hundred day moving average of $11.56. DiamondRock Hospitality Company has a 12 month low of $8.57 and a 12 month high of $14.85. The firm has a market capitalization of $2.95 billion, a price-to-earnings ratio of 57.60, a price-to-earnings-growth ratio of 4.50 and a beta of 1.04. The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 0.70.

DiamondRock Hospitality (NYSE:DRH) last released its earnings results on Tuesday, November 3rd. The real estate investment trust reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.15 by $0.01. The firm had revenue of $297.60 million for the quarter, compared to analyst estimates of $292.08 million. DiamondRock Hospitality had a return on equity of 4.04% and a net margin of 5.69%. The company’s revenue was up 4.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.29 EPS. On average, equities analysts forecast that DiamondRock Hospitality Company will post 0.96 earnings per share for the current fiscal year.

Analysts Set New Price Targets

DRH has been the topic of a number of recent analyst reports. Bank of America lifted their price target on shares of DiamondRock Hospitality from $12.50 to $13.00 and gave the company a “buy” rating in a research report on Monday, July 20th. Stifel Nicolaus upped their price objective on shares of DiamondRock Hospitality from $12.50 to $13.25 and gave the stock a “hold” rating in a report on Friday, July 31st. Barclays raised their target price on shares of DiamondRock Hospitality from $12.00 to $14.00 and gave the company an “equal weight” rating in a research note on Thursday, August 27th. Morgan Stanley lifted their target price on shares of DiamondRock Hospitality from $11.00 to $12.00 and gave the stock an “equal weight” rating in a report on Monday, October 12th. Finally, Truist Financial boosted their target price on shares of DiamondRock Hospitality from $12.00 to $15.00 and gave the stock a “buy” rating in a research report on Thursday, September 10th. Four analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $13.03.

DiamondRock Hospitality Company Profile

DiamondRock Hospitality Company is a self-advised real estate investment trust focused on owning upscale hotels and resorts in the United States. The company’s properties serve both business and leisure travelers and are managed by third-party hotel operators. Its portfolio includes hotels in major urban and gateway markets as well as leisure destinations. Properties operate under a range of well-known hotel brands, including Marriott, Hilton and Hyatt, alongside independent brands. DiamondRock was founded in 2004 and became a publicly traded company in 2005.