Bank of America Corp DE Sells 14,359 Shares of DiamondRock Hospitality (NYSE:DRH)

Bank of America Corp DE lowered its position in DiamondRock Hospitality (NYSE:DRH) by 1.6% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 878,555 shares of the real estate investment trust’s stock after selling 14,359 shares during the period. Bank of America […]

Bank of America Corp DE lowered its position in DiamondRock Hospitality (NYSE:DRH) by 1.6% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 878,555 shares of the real estate investment trust’s stock after selling 14,359 shares during the period. Bank of America Corp DE owned about 0.44% of DiamondRock Hospitality worth $4,858,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Tower Research Capital LLC TRC raised its position in DiamondRock Hospitality by 6,365.0% in the 1st quarter. Tower Research Capital LLC TRC now owns 6,465 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 6,365 shares during the period. Federated Hermes Inc. grew its stake in DiamondRock Hospitality by 394.9% in the 1st quarter. Federated Hermes Inc. now owns 6,761 shares of the real estate investment trust’s stock worth $35,000 after acquiring an additional 5,395 shares in the last quarter. FormulaFolio Investments LLC bought a new position in shares of DiamondRock Hospitality during the first quarter valued at approximately $61,000. US Bancorp DE boosted its stake in shares of DiamondRock Hospitality by 1,543.1% during the second quarter. US Bancorp DE now owns 11,830 shares of the real estate investment trust’s stock valued at $65,000 after purchasing an additional 11,110 shares in the last quarter. Finally, Diversified Trust Co bought a new position in shares of DiamondRock Hospitality during the second quarter valued at approximately $70,000.

Shares of DiamondRock Hospitality stock opened at $5.26 on Friday. The company has a fifty day simple moving average of $5.32 and a 200-day simple moving average of $5.29. DiamondRock Hospitality has a 12-month low of $1.96 and a 12-month high of $11.79. The stock has a market cap of $1.05 billion, a price-to-earnings ratio of 27.69 and a beta of 1.69. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.64.

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

A number of equities research analysts recently commented on the stock. Zacks Investment Research raised shares of DiamondRock Hospitality from a “sell” rating to a “hold” rating in a research report on Wednesday, September 23rd. Barclays raised shares of DiamondRock Hospitality from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $7.00 to $8.00 in a report on Monday, June 22nd. Wells Fargo & Company reduced their target price on shares of DiamondRock Hospitality from $9.00 to $5.50 and set an “equal weight” rating for the company in a report on Wednesday, July 22nd. ValuEngine raised shares of DiamondRock Hospitality from a “buy” rating to a “strong-buy” rating in a report on Thursday. Finally, Bank of America raised their price target on shares of DiamondRock Hospitality from $4.00 to $5.50 and gave the company an “underperform” rating in a research report on Wednesday. Four analysts have rated the stock with a sell rating, three have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. DiamondRock Hospitality has an average rating of “Hold” and a consensus price target of $5.58.

DiamondRock Hospitality 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.

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

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