Long Pond Capital LP boosted its position in shares of DiamondRock Hospitality (NYSE:DRH) by 20.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,863,443 shares of the real estate investment trust’s stock after purchasing an additional 476,643 shares during the period. DiamondRock Hospitality comprises 1.1% of Long Pond Capital LP’s holdings, making the stock its 22nd biggest holding. Long Pond Capital LP’s holdings in DiamondRock Hospitality were worth $31,011,000 at the end of the most recent quarter.
Other large investors have also recently modified their holdings of the company. State of Tennessee Treasury Department lifted its holdings in DiamondRock Hospitality by 1.1% during the first quarter. State of Tennessee Treasury Department now owns 138,391 shares of the real estate investment trust’s stock valued at $1,499,000 after purchasing an additional 1,490 shares in the last quarter. NumerixS Investment Technologies Inc lifted its holdings in DiamondRock Hospitality by 237.0% during the first quarter. NumerixS Investment Technologies Inc now owns 36,400 shares of the real estate investment trust’s stock valued at $400,000 after purchasing an additional 25,600 shares in the last quarter. Swiss National Bank lifted its holdings in DiamondRock Hospitality by 3.1% during the first quarter. Swiss National Bank now owns 378,900 shares of the real estate investment trust’s stock valued at $4,103,000 after purchasing an additional 11,400 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in DiamondRock Hospitality by 1.2% during the first quarter. Dimensional Fund Advisors LP now owns 3,305,993 shares of the real estate investment trust’s stock valued at $35,805,000 after purchasing an additional 39,168 shares in the last quarter. Finally, Envestnet Asset Management Inc. purchased a new position in DiamondRock Hospitality during the first quarter valued at $720,000.
Shares of NYSE:DRH traded down $0.13 during midday trading on Friday, hitting $10.08. The company’s stock had a trading volume of 33,398 shares, compared to its average volume of 1,975,167. The company has a current ratio of 1.54, a quick ratio of 1.54 and a debt-to-equity ratio of 0.62. The company has a market cap of $2.04 billion, a P/E ratio of 9.89, a P/E/G ratio of 1.97 and a beta of 1.42. DiamondRock Hospitality has a 12-month low of $8.69 and a 12-month high of $12.56.
Several research firms have issued reports on DRH. Zacks Investment Research downgraded shares of DiamondRock Hospitality from a “buy” rating to a “hold” rating in a report on Wednesday, April 3rd. Wells Fargo & Co reissued a “sell” rating on shares of DiamondRock Hospitality in a research note on Wednesday, March 6th. TheStreet raised shares of DiamondRock Hospitality from a “c+” rating to a “b-” rating in a research note on Friday, February 15th. Finally, Deutsche Bank reissued a “hold” rating and issued a $12.00 price target on shares of DiamondRock Hospitality in a research note on Thursday, February 28th. Four investment analysts have rated the stock with a sell rating and six have assigned a hold rating to the company. DiamondRock Hospitality presently has a consensus rating of “Hold” and an average target price of $10.25.
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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 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 such as Hilton and Marriott as well as unique boutique hotels in the lifestyle segment.
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