Glenmede Trust Co. NA Grows Position in DiamondRock Hospitality (NYSE:DRH)

Glenmede Trust Co. NA boosted its holdings in DiamondRock Hospitality (NYSE:DRH) by 100.0% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 67,677 shares of the real estate investment trust’s stock after acquiring an additional 33,835 shares during the quarter. Glenmede Trust Co. NA’s holdings in DiamondRock Hospitality were worth $591,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the business. Evergreen Capital Management LLC raised its position in DiamondRock Hospitality by 14.4% in the second quarter. Evergreen Capital Management LLC now owns 14,372 shares of the real estate investment trust’s stock worth $122,000 after acquiring an additional 1,810 shares in the last quarter. Louisiana State Employees Retirement System raised its position in DiamondRock Hospitality by 1.8% in the second quarter. Louisiana State Employees Retirement System now owns 105,700 shares of the real estate investment trust’s stock worth $893,000 after acquiring an additional 1,900 shares in the last quarter. Van ECK Associates Corp raised its position in DiamondRock Hospitality by 6.7% in the second quarter. Van ECK Associates Corp now owns 32,191 shares of the real estate investment trust’s stock worth $272,000 after acquiring an additional 2,028 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in DiamondRock Hospitality by 35.1% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,153 shares of the real estate investment trust’s stock worth $73,000 after acquiring an additional 2,116 shares in the last quarter. Finally, Daiwa Securities Group Inc. raised its position in DiamondRock Hospitality by 3.9% in the third quarter. Daiwa Securities Group Inc. now owns 68,728 shares of the real estate investment trust’s stock worth $600,000 after acquiring an additional 2,598 shares in the last quarter.

DiamondRock Hospitality Stock Up 4.3 %

DRH opened at $9.75 on Wednesday. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.66. The firm has a market cap of $2.02 billion, a P/E ratio of 34.80, a PEG ratio of 5.44 and a beta of 1.60. DiamondRock Hospitality has a 52 week low of $7.74 and a 52 week high of $10.00. The business’s fifty day simple moving average is $8.99 and its 200 day simple moving average is $8.59.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Truist Financial dropped their price target on DiamondRock Hospitality from $11.00 to $10.00 and set a “hold” rating for the company in a research report on Wednesday, September 4th. Stifel Nicolaus cut DiamondRock Hospitality from a “buy” rating to a “hold” rating and dropped their price target for the company from $10.75 to $10.25 in a research report on Friday, November 22nd. Wells Fargo & Company dropped their price target on DiamondRock Hospitality from $9.50 to $9.00 and set an “equal weight” rating for the company in a research report on Friday, September 13th. StockNews.com upgraded DiamondRock Hospitality from a “sell” rating to a “hold” rating in a research report on Tuesday, November 12th. Finally, Evercore ISI cut DiamondRock Hospitality from an “outperform” rating to an “inline” rating and set a $10.50 price target for the company. in a research report on Friday, November 15th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $10.13.

About DiamondRock Hospitality

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 leisure destinations and top gateway markets. The Company currently owns 36 premium quality hotels with over 9,700 rooms. The Company has strategically positioned its portfolio to be operated both under leading global brand families as well as independent boutique hotels in the lifestyle segment.