Heitman Real Estate Securities LLC bought a new stake in DiamondRock Hospitality (NYSE:DRH) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 939,330 shares of the real estate investment trust’s stock, valued at approximately $10,605,000. Heitman Real Estate Securities LLC owned about 0.47% of DiamondRock Hospitality at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently bought and sold shares of DRH. Crossmark Global Holdings Inc. purchased a new position in DiamondRock Hospitality in the third quarter valued at about $410,000. Stevens Capital Management LP purchased a new position in DiamondRock Hospitality in the third quarter valued at about $1,890,000. Pzena Investment Management LLC grew its stake in DiamondRock Hospitality by 5.1% in the third quarter. Pzena Investment Management LLC now owns 1,099,717 shares of the real estate investment trust’s stock valued at $12,042,000 after purchasing an additional 53,768 shares during the last quarter. BNP Paribas Arbitrage SA grew its stake in DiamondRock Hospitality by 228.0% in the third quarter. BNP Paribas Arbitrage SA now owns 413,090 shares of the real estate investment trust’s stock valued at $4,523,000 after purchasing an additional 287,152 shares during the last quarter. Finally, Municipal Employees Retirement System of Michigan grew its stake in DiamondRock Hospitality by 50.9% in the third quarter. Municipal Employees Retirement System of Michigan now owns 82,680 shares of the real estate investment trust’s stock valued at $906,000 after purchasing an additional 27,880 shares during the last quarter.
Shares of DiamondRock Hospitality (NYSE DRH) opened at $10.69 on Monday. DiamondRock Hospitality has a 52 week low of $9.87 and a 52 week high of $12.11. The firm has a market capitalization of $2,143.75, a PE ratio of 23.76, a PEG ratio of 2.13 and a beta of 1.42. The company has a current ratio of 2.35, a quick ratio of 2.35 and a debt-to-equity ratio of 0.51.
In other DiamondRock Hospitality news, insider Mark W. Brugger purchased 10,000 shares of the company’s stock in a transaction dated Friday, March 2nd. The shares were acquired at an average price of $9.98 per share, for a total transaction of $99,800.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.10% of the stock is currently owned by insiders.
Several research firms have issued reports on DRH. TheStreet upgraded DiamondRock Hospitality from a “c+” rating to a “b-” rating in a research note on Friday, December 29th. Boenning Scattergood upgraded DiamondRock Hospitality from an “under perform” rating to a “neutral” rating in a research note on Friday, December 8th. Morgan Stanley cut their target price on DiamondRock Hospitality from $11.00 to $10.00 and set an “underweight” rating on the stock in a research note on Wednesday, February 28th. Evercore ISI upgraded DiamondRock Hospitality from an “in-line” rating to an “outperform” rating in a research note on Monday, December 4th. Finally, Zacks Investment Research lowered DiamondRock Hospitality from a “hold” rating to a “sell” rating in a research note on Tuesday, November 14th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the company’s stock. DiamondRock Hospitality presently has an average rating of “Hold” and an average target price of $11.78.
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DiamondRock Hospitality Profile
DiamondRock Hospitality Company is a real estate investment trust (REIT). As of December 31, 2016, the Company owned a portfolio of 26 hotels and resorts that contains 9,472 guest rooms located in 17 different markets in North America and the United States Virgin Islands. Its business is to acquire, own, asset manage and renovate hotel properties in the United States.
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