UBS Asset Management Americas Inc. decreased its holdings in shares of DiamondRock Hospitality (NYSE:DRH) by 25.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 490,925 shares of the real estate investment trust’s stock after selling 165,569 shares during the quarter. UBS Asset Management Americas Inc. owned approximately 0.25% of DiamondRock Hospitality worth $5,543,000 at the end of the most recent reporting period.
A number of other institutional investors have also made changes to their positions in the business. BlackRock Inc. lifted its holdings in DiamondRock Hospitality by 2.8% during the 4th quarter. BlackRock Inc. now owns 34,554,124 shares of the real estate investment trust’s stock valued at $390,116,000 after purchasing an additional 930,189 shares during the last quarter. Resolution Capital Ltd lifted its holdings in DiamondRock Hospitality by 16.1% during the 4th quarter. Resolution Capital Ltd now owns 8,397,378 shares of the real estate investment trust’s stock valued at $94,806,000 after purchasing an additional 1,164,594 shares during the last quarter. Prudential Financial Inc. lifted its holdings in DiamondRock Hospitality by 3.5% during the 3rd quarter. Prudential Financial Inc. now owns 6,010,323 shares of the real estate investment trust’s stock valued at $65,813,000 after purchasing an additional 200,537 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in DiamondRock Hospitality by 19.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,340,041 shares of the real estate investment trust’s stock valued at $36,640,000 after purchasing an additional 538,429 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its holdings in DiamondRock Hospitality by 10.6% during the 4th quarter. Victory Capital Management Inc. now owns 3,306,571 shares of the real estate investment trust’s stock valued at $37,331,000 after purchasing an additional 316,999 shares during the last quarter.
Shares of DiamondRock Hospitality (DRH) opened at $10.69 on Monday. The company has a current ratio of 2.35, a quick ratio of 2.35 and a debt-to-equity ratio of 0.51. DiamondRock Hospitality has a twelve month low of $9.87 and a twelve month high of $12.11. The firm has a market capitalization of $2,143.75, a price-to-earnings ratio of 23.76, a PEG ratio of 2.13 and a beta of 1.42.
In related news, insider Mark W. Brugger purchased 10,000 shares of the firm’s stock in a transaction that occurred on Friday, March 2nd. The shares were bought at an average price of $9.98 per share, for a total transaction of $99,800.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.10% of the stock is currently owned by company insiders.
DRH has been the subject of several research reports. Zacks Investment Research downgraded DiamondRock Hospitality from a “hold” rating to a “sell” rating in a report on Tuesday, November 14th. Evercore ISI raised DiamondRock Hospitality from an “in-line” rating to an “outperform” rating in a report on Monday, December 4th. Morgan Stanley cut their price target on DiamondRock Hospitality from $11.00 to $10.00 and set an “underweight” rating for the company in a report on Wednesday, February 28th. Boenning Scattergood reaffirmed a “hold” rating on shares of DiamondRock Hospitality in a report on Wednesday, February 28th. Finally, TheStreet raised DiamondRock Hospitality from a “c+” rating to a “b-” rating in a report on Friday, December 29th. Two analysts have rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $11.78.
DiamondRock Hospitality Company 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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