Pioneer Investment Management Inc. raised its stake in shares of Diamondrock Hospitality Company (NYSE:DRH) by 65.7% during the second quarter, Holdings Channel reports. The fund owned 234,670 shares of the real estate investment trust’s stock after buying an additional 93,015 shares during the period. Pioneer Investment Management Inc.’s holdings in Diamondrock Hospitality were worth $2,570,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in DRH. BlackRock Inc. raised its position in Diamondrock Hospitality by 4,611.0% in the first quarter. BlackRock Inc. now owns 31,087,897 shares of the real estate investment trust’s stock valued at $346,632,000 after buying an additional 30,427,991 shares during the last quarter. Vanguard Group Inc. raised its position in Diamondrock Hospitality by 2.8% in the first quarter. Vanguard Group Inc. now owns 33,172,615 shares of the real estate investment trust’s stock valued at $369,874,000 after buying an additional 895,263 shares during the last quarter. Schwab Charles Investment Management Inc. raised its position in Diamondrock Hospitality by 5.0% in the first quarter. Schwab Charles Investment Management Inc. now owns 2,106,698 shares of the real estate investment trust’s stock valued at $23,490,000 after buying an additional 100,596 shares during the last quarter. Metropolitan Life Insurance Co. NY raised its position in Diamondrock Hospitality by 0.8% in the first quarter. Metropolitan Life Insurance Co. NY now owns 146,014 shares of the real estate investment trust’s stock valued at $1,628,000 after buying an additional 1,130 shares during the last quarter. Finally, Comerica Bank raised its position in Diamondrock Hospitality by 4.2% in the first quarter. Comerica Bank now owns 221,366 shares of the real estate investment trust’s stock valued at $2,543,000 after buying an additional 8,876 shares during the last quarter.

Shares of Diamondrock Hospitality Company (NYSE DRH) opened at 11.21 on Tuesday. The firm’s 50-day moving average price is $11.46 and its 200 day moving average price is $11.22. The firm has a market capitalization of $2.25 billion, a price-to-earnings ratio of 22.69 and a beta of 1.38. Diamondrock Hospitality Company has a 52 week low of $8.73 and a 52 week high of $12.07.

Diamondrock Hospitality (NYSE:DRH) last issued its earnings results on Monday, August 7th. The real estate investment trust reported $0.32 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.31 by $0.01. The business had revenue of $243.30 million during the quarter, compared to analysts’ expectations of $240.73 million. Diamondrock Hospitality had a return on equity of 5.41% and a net margin of 11.47%. During the same quarter last year, the firm posted $0.31 earnings per share. Diamondrock Hospitality’s revenue was up 1.2% compared to the same quarter last year. On average, analysts anticipate that Diamondrock Hospitality Company will post $0.48 EPS for the current year.

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DRH has been the subject of several analyst reports. Zacks Investment Research upgraded Diamondrock Hospitality from a “hold” rating to a “buy” rating and set a $13.00 target price for the company in a research note on Monday, July 10th. BidaskClub lowered Diamondrock Hospitality from a “buy” rating to a “hold” rating in a research note on Saturday, July 1st. Boenning Scattergood reiterated an “underperform” rating and issued a $10.00 target price on shares of Diamondrock Hospitality in a research note on Tuesday, April 18th. Finally, Canaccord Genuity reiterated a “buy” rating and issued a $13.00 target price on shares of Diamondrock Hospitality in a research note on Monday, August 7th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company’s stock. Diamondrock Hospitality has an average rating of “Hold” and an average target price of $11.56.

About Diamondrock Hospitality

DiamondRock Hospitality Company is a real estate investment trust (REIT). As of December 31, 2016, the Company owned a portfolio of 26 hotels and resorts that contains 9,472 guest rooms located in 17 different markets in North America and the United States Virgin Islands. Its business is to acquire, own, asset manage and renovate hotel properties in the United States.

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

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