Bank of New York Mellon Corp boosted its holdings in shares of DiamondRock Hospitality (NYSE:DRH) by 0.7% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,471,762 shares of the real estate investment trust’s stock after acquiring an additional 17,674 shares during the quarter. Bank of New York Mellon Corp’s holdings in DiamondRock Hospitality were worth $13,668,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Macquarie Group Ltd. grew its stake in shares of DiamondRock Hospitality by 7.9% in the second quarter. Macquarie Group Ltd. now owns 62,557 shares of the real estate investment trust’s stock worth $346,000 after acquiring an additional 4,557 shares during the last quarter. Intersect Capital LLC bought a new stake in DiamondRock Hospitality during the 2nd quarter worth about $126,000. Eqis Capital Management Inc. grew its position in shares of DiamondRock Hospitality by 27.8% during the 2nd quarter. Eqis Capital Management Inc. now owns 15,474 shares of the real estate investment trust’s stock worth $86,000 after buying an additional 3,370 shares during the period. US Bancorp DE grew its position in shares of DiamondRock Hospitality by 1,543.1% during the 2nd quarter. US Bancorp DE now owns 11,830 shares of the real estate investment trust’s stock worth $65,000 after buying an additional 11,110 shares during the period. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its position in shares of DiamondRock Hospitality by 12.3% in the 2nd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 57,325 shares of the real estate investment trust’s stock valued at $317,000 after purchasing an additional 6,287 shares during the period.

Shares of DRH opened at $5.84 on Wednesday. The company has a market cap of $1.17 billion, a price-to-earnings ratio of 30.74 and a beta of 1.69. DiamondRock Hospitality has a 12 month low of $1.96 and a 12 month high of $11.79. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.64. The business’s fifty day simple moving average is $5.26 and its two-hundred day simple moving average is $5.59.

DiamondRock Hospitality (NYSE:DRH) last posted its quarterly earnings results on Thursday, August 6th. The real estate investment trust reported ($0.36) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.34) by ($0.02). The business had revenue of $20.38 million for the quarter, compared to the consensus estimate of $25.54 million. DiamondRock Hospitality had a net margin of 5.72% and a return on equity of 2.06%. DiamondRock Hospitality’s revenue was down 92.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.32 earnings per share. As a group, research analysts forecast that DiamondRock Hospitality will post -0.38 EPS for the current year.

DRH has been the topic of a number of research analyst reports. Zacks Investment Research cut DiamondRock Hospitality from a “hold” rating to a “sell” rating in a research note on Monday, July 20th. SunTrust Banks lowered DiamondRock Hospitality from a “hold” rating to a “sell” rating in a research note on Friday, July 24th. TheStreet downgraded DiamondRock Hospitality from a “c” rating to a “d+” rating in a research report on Tuesday, September 8th. Barclays upgraded DiamondRock Hospitality from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $7.00 to $8.00 in a research report on Monday, June 22nd. Finally, Wells Fargo & Company lowered their price objective on DiamondRock Hospitality from $9.00 to $5.50 and set an “equal weight” rating for the company in a research report on Wednesday, July 22nd. Four analysts have rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the stock. DiamondRock Hospitality currently has an average rating of “Hold” and a consensus target price of $5.59.

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 top gateway markets and destination resort locations. The Company owns 31 premium quality hotels with over 10,000 rooms. The Company has strategically positioned its hotels to be operated both under leading global brand families such as Hilton and Marriott as well as unique boutique hotels in the lifestyle segment.

Featured Story: Growth Stocks

Want to see what other hedge funds are holding DRH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for DiamondRock Hospitality (NYSE:DRH).

Institutional Ownership by Quarter for DiamondRock Hospitality (NYSE:DRH)

Receive News & Ratings for DiamondRock Hospitality Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for DiamondRock Hospitality and related companies with MarketBeat.com's FREE daily email newsletter.