M&T Bank Corp Acquires 2,189 Shares of DiamondRock Hospitality (NYSE:DRH)

M&T Bank Corp raised its holdings in DiamondRock Hospitality (NYSE:DRHGet Rating) by 10.8% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 22,480 shares of the real estate investment trust’s stock after buying an additional 2,189 shares during the quarter. M&T Bank Corp’s holdings in DiamondRock Hospitality were worth $184,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Aaron Wealth Advisors LLC bought a new stake in shares of DiamondRock Hospitality during the first quarter valued at approximately $307,000. Harbor Investment Advisory LLC raised its stake in DiamondRock Hospitality by 52.8% during the second quarter. Harbor Investment Advisory LLC now owns 4,829 shares of the real estate investment trust’s stock valued at $40,000 after buying an additional 1,669 shares during the last quarter. US Bancorp DE raised its stake in DiamondRock Hospitality by 1,465.0% during the second quarter. US Bancorp DE now owns 7,778 shares of the real estate investment trust’s stock valued at $64,000 after buying an additional 7,281 shares during the last quarter. Xponance Inc. purchased a new position in DiamondRock Hospitality during the second quarter valued at $94,000. Finally, Scotia Capital Inc. purchased a new position in DiamondRock Hospitality during the second quarter valued at $95,000.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Stifel Nicolaus lowered their price objective on DiamondRock Hospitality from $12.00 to $11.00 and set a “buy” rating for the company in a research note on Tuesday, July 26th. StockNews.com assumed coverage on DiamondRock Hospitality in a research note on Wednesday, October 12th. They set a “hold” rating for the company. Wells Fargo & Company cut DiamondRock Hospitality from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $11.00 to $10.00 in a research note on Monday, August 29th. Citigroup boosted their price target on DiamondRock Hospitality to $10.00 in a research note on Monday, August 22nd. Finally, Compass Point decreased their price target on DiamondRock Hospitality to $11.00 in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $10.67.

DiamondRock Hospitality Stock Down 0.9 %

DiamondRock Hospitality stock opened at $8.75 on Friday. The stock has a market cap of $1.85 billion, a PE ratio of 24.31 and a beta of 1.64. The company has a debt-to-equity ratio of 0.85, a quick ratio of 3.29 and a current ratio of 3.29. DiamondRock Hospitality has a one year low of $7.18 and a one year high of $11.15. The stock has a fifty day moving average of $8.52 and a 200 day moving average of $9.00.

DiamondRock Hospitality Profile

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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 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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