Swiss National Bank Decreases Position in DiamondRock Hospitality (NYSE:DRH)

Swiss National Bank trimmed its position in shares of DiamondRock Hospitality (NYSE:DRH) by 11.3% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 451,900 shares of the real estate investment trust’s stock after selling 57,400 shares during the quarter. Swiss National Bank owned approximately 0.21% of DiamondRock Hospitality worth $3,674,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of DRH. Clear Street Markets LLC purchased a new stake in DiamondRock Hospitality during the fourth quarter worth $54,000. Tower Research Capital LLC TRC boosted its position in DiamondRock Hospitality by 711.7% during the first quarter. Tower Research Capital LLC TRC now owns 7,119 shares of the real estate investment trust’s stock worth $58,000 after purchasing an additional 6,242 shares in the last quarter. Pathstone Family Office LLC boosted its position in DiamondRock Hospitality by 42.8% during the third quarter. Pathstone Family Office LLC now owns 15,083 shares of the real estate investment trust’s stock worth $113,000 after purchasing an additional 4,523 shares in the last quarter. Origin Asset Management LLP acquired a new position in shares of DiamondRock Hospitality in the fourth quarter worth $117,000. Finally, Federated Hermes Inc. raised its holdings in shares of DiamondRock Hospitality by 379.8% in the first quarter. Federated Hermes Inc. now owns 14,501 shares of the real estate investment trust’s stock worth $118,000 after acquiring an additional 11,479 shares during the last quarter.

Wall Street Analysts Forecast Growth

DRH has been the subject of a number of analyst reports. Morgan Stanley cut their price target on DiamondRock Hospitality from $9.00 to $8.50 and set an “equal weight” rating for the company in a report on Friday, August 25th. Wells Fargo & Company boosted their price target on DiamondRock Hospitality from $9.00 to $10.00 in a report on Wednesday, July 12th. Finally, StockNews.com cut DiamondRock Hospitality from a “hold” rating to a “sell” rating in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $9.70.

DiamondRock Hospitality Stock Performance

DiamondRock Hospitality stock opened at $8.02 on Friday. The firm has a market capitalization of $1.68 billion, a P/E ratio of 20.56 and a beta of 1.64. The stock has a fifty day moving average price of $8.03 and a 200 day moving average price of $8.14. DiamondRock Hospitality has a 52 week low of $7.14 and a 52 week high of $10.02. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.72.

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.