Systematic Financial Management LP Has $13.97 Million Position in DiamondRock Hospitality (NYSE:DRH)

Systematic Financial Management LP grew its holdings in DiamondRock Hospitality (NYSE:DRH - Free Report) by 8.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,599,730 shares of the real estate investment trust's stock after buying an additional 130,507 shares during the period. Systematic Financial Management LP owned 0.77% of DiamondRock Hospitality worth $13,966,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in DRH. Rush Island Management LP bought a new stake in DiamondRock Hospitality in the 3rd quarter valued at $51,726,000. Hotchkis & Wiley Capital Management LLC acquired a new position in shares of DiamondRock Hospitality in the third quarter valued at $6,442,000. Holocene Advisors LP bought a new position in shares of DiamondRock Hospitality in the third quarter valued at about $568,000. Verition Fund Management LLC lifted its stake in shares of DiamondRock Hospitality by 108.6% during the 3rd quarter. Verition Fund Management LLC now owns 215,986 shares of the real estate investment trust's stock worth $1,886,000 after buying an additional 112,463 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of DiamondRock Hospitality by 326.6% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,235,728 shares of the real estate investment trust's stock worth $10,788,000 after buying an additional 946,073 shares during the last quarter.

Wall Street Analysts Forecast Growth

DRH has been the topic of several research analyst reports. Evercore ISI cut shares of DiamondRock Hospitality from an "outperform" rating to an "inline" rating and set a $10.50 price target on the stock. in a report on Friday, November 15th. Truist Financial lowered their target price on DiamondRock Hospitality from $11.00 to $10.00 and set a "hold" rating on the stock in a research note on Wednesday, September 4th. Wells Fargo & Company dropped their price target on DiamondRock Hospitality from $9.50 to $9.00 and set an "equal weight" rating for the company in a report on Friday, September 13th. StockNews.com raised DiamondRock Hospitality from a "sell" rating to a "hold" rating in a report on Tuesday, November 12th. Finally, Stifel Nicolaus cut DiamondRock Hospitality from a "buy" rating to a "hold" rating and lowered their price objective for the stock from $10.75 to $10.25 in a research report on Friday, November 22nd. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $10.13.

DiamondRock Hospitality Price Performance

NYSE:DRH traded up $0.01 during trading hours on Friday, reaching $9.58. 1,703,498 shares of the company were exchanged, compared to its average volume of 1,917,477. The business has a 50 day moving average of $9.02 and a 200 day moving average of $8.61. DiamondRock Hospitality has a 1-year low of $7.74 and a 1-year high of $10.00. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.73 and a quick ratio of 1.73. The company has a market capitalization of $1.99 billion, a P/E ratio of 34.21, a P/E/G ratio of 5.67 and a beta of 1.60.

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.