737,900 Shares in DiamondRock Hospitality (NYSE:DRH) Acquired by Hotchkis & Wiley Capital Management LLC

Hotchkis & Wiley Capital Management LLC acquired a new stake in shares of DiamondRock Hospitality (NYSE:DRH - Free Report) in the third quarter, according to the company in its most recent filing with the SEC. The firm acquired 737,900 shares of the real estate investment trust's stock, valued at approximately $6,442,000. Hotchkis & Wiley Capital Management LLC owned about 0.36% of DiamondRock Hospitality as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of DRH. Pzena Investment Management LLC boosted its position in shares of DiamondRock Hospitality by 3.6% during the 3rd quarter. Pzena Investment Management LLC now owns 9,153,018 shares of the real estate investment trust's stock valued at $79,906,000 after acquiring an additional 317,901 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in DiamondRock Hospitality by 2.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,475,664 shares of the real estate investment trust's stock worth $39,073,000 after purchasing an additional 103,209 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in DiamondRock Hospitality by 4.0% in the second quarter. Dimensional Fund Advisors LP now owns 3,102,363 shares of the real estate investment trust's stock valued at $26,214,000 after acquiring an additional 120,228 shares in the last quarter. Victory Capital Management Inc. boosted its position in shares of DiamondRock Hospitality by 0.9% during the 3rd quarter. Victory Capital Management Inc. now owns 2,642,787 shares of the real estate investment trust's stock worth $23,072,000 after acquiring an additional 24,249 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in shares of DiamondRock Hospitality by 1.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,081,031 shares of the real estate investment trust's stock valued at $17,585,000 after acquiring an additional 25,154 shares during the last quarter.

Analyst Upgrades and Downgrades

DRH has been the subject of several research analyst reports. Stifel Nicolaus downgraded 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 report on Friday, November 22nd. Wells Fargo & Company decreased 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 research note 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. Evercore ISI downgraded DiamondRock Hospitality from an "outperform" rating to an "inline" rating and set a $10.50 target price on the stock. in a research note on Friday, November 15th. Finally, Truist Financial cut their price target on DiamondRock Hospitality from $11.00 to $10.00 and set a "hold" rating for the company in a research note on Wednesday, September 4th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $10.13.

DiamondRock Hospitality Price Performance

NYSE DRH traded up $0.01 during mid-day trading on Friday, hitting $9.58. The stock had a trading volume of 1,703,498 shares, compared to its average volume of 1,917,477. The company has a 50 day simple moving average of $9.01 and a 200 day simple moving average of $8.61. 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 company has a market cap of $1.99 billion, a price-to-earnings ratio of 34.21, a P/E/G ratio of 5.67 and a beta of 1.60. DiamondRock Hospitality has a 52-week low of $7.74 and a 52-week high of $10.00.

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 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.