Hotchkis & Wiley Capital Management LLC Buys Shares of 737,900 DiamondRock Hospitality (NYSE:DRH)

Hotchkis & Wiley Capital Management LLC bought a new stake in DiamondRock Hospitality (NYSE:DRH) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 737,900 shares of the real estate investment trust’s stock, valued at approximately $6,442,000. Hotchkis & Wiley Capital Management LLC owned 0.36% of DiamondRock Hospitality as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Evergreen Capital Management LLC grew its stake in shares of 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 grew its stake in shares of 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 grew its stake in shares of DiamondRock Hospitality by 6.7% during the second quarter. Van ECK Associates Corp now owns 32,191 shares of the real estate investment trust’s stock worth $272,000 after purchasing an additional 2,028 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of DiamondRock Hospitality by 35.1% during 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 purchasing an additional 2,116 shares in the last quarter. Finally, Daiwa Securities Group Inc. grew its stake in shares of DiamondRock Hospitality by 3.9% during the third quarter. Daiwa Securities Group Inc. now owns 68,728 shares of the real estate investment trust’s stock worth $600,000 after purchasing an additional 2,598 shares in the last quarter.

DiamondRock Hospitality Stock Down 0.2 %

Shares of NYSE:DRH opened at $9.57 on Friday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.73 and a current ratio of 1.73. DiamondRock Hospitality has a 1 year low of $7.74 and a 1 year high of $10.00. The stock has a market capitalization of $1.99 billion, a P/E ratio of 34.18, a PEG ratio of 5.67 and a beta of 1.60. The stock has a 50-day simple moving average of $9.01 and a 200-day simple moving average of $8.61.

Wall Street Analysts Forecast Growth

DRH has been the subject of several research analyst reports. StockNews.com upgraded shares of DiamondRock Hospitality from a “sell” rating to a “hold” rating in a research note on Tuesday, November 12th. Stifel Nicolaus downgraded shares of DiamondRock Hospitality from a “buy” rating to a “hold” rating and decreased their price objective for the company from $10.75 to $10.25 in a research note on Friday, November 22nd. Truist Financial decreased their price objective on shares of DiamondRock Hospitality from $11.00 to $10.00 and set a “hold” rating for the company in a research note on Wednesday, September 4th. Evercore ISI downgraded shares of DiamondRock Hospitality from an “outperform” rating to an “inline” rating and set a $10.50 price objective for the company. in a research note on Friday, November 15th. Finally, Wells Fargo & Company reduced their target price on shares of DiamondRock Hospitality from $9.50 to $9.00 and set an “equal weight” rating for the company in a report on Friday, September 13th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $10.13.

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 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.