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

Virtus Advisers LLC purchased a new stake in shares of DiamondRock Hospitality Company (NYSE:DRH) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 67,965 shares of the real estate investment trust’s stock, valued at approximately $840,000.

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

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. Barclays boosted their price objective on shares of DiamondRock Hospitality from $12.00 to $14.00 and gave the company an “equal weight” rating in a research report on Thursday, August 27th. Zacks Research lowered shares of DiamondRock Hospitality from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 28th. Citigroup increased their target price on shares of DiamondRock Hospitality from $11.00 to $13.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 22nd. Wells Fargo & Company lifted their target price on shares of DiamondRock Hospitality from $13.00 to $14.00 and gave the company an “equal weight” rating in a research note on Monday, October 26th. Finally, Morgan Stanley boosted their price target on shares of DiamondRock Hospitality from $11.00 to $12.00 and gave the company an “equal weight” rating in a report on Monday, October 12th. Four investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $13.03.

DiamondRock Hospitality Stock Up 0.1%

Shares of DiamondRock Hospitality stock traded up $0.02 during trading on Friday, hitting $14.40. 2,490,512 shares of the stock traded hands, compared to its average volume of 2,587,809. The stock has a market cap of $2.95 billion, a P/E ratio of 57.60, a PEG ratio of 4.50 and a beta of 1.04. The company has a fifty day moving average price of $13.16 and a two-hundred day moving average price of $11.56. DiamondRock Hospitality Company has a twelve month low of $8.57 and a twelve month high of $14.85. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.64 and a current ratio of 1.64.

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

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.