DiamondRock Hospitality (NYSE:DRH) Shares Purchased by Verition Fund Management LLC

Verition Fund Management LLC grew its holdings in DiamondRock Hospitality (NYSE:DRH - Free Report) by 108.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 215,986 shares of the real estate investment trust's stock after acquiring an additional 112,463 shares during the quarter. Verition Fund Management LLC owned 0.10% of DiamondRock Hospitality worth $1,886,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of DRH. Vanderbilt University purchased a new stake in shares of DiamondRock Hospitality during the second quarter valued at $233,000. Louisiana State Employees Retirement System increased its holdings in shares of DiamondRock Hospitality by 1.8% in the second quarter. Louisiana State Employees Retirement System now owns 105,700 shares of the real estate investment trust's stock valued at $893,000 after purchasing an additional 1,900 shares during the period. Bank of New York Mellon Corp raised its stake in shares of DiamondRock Hospitality by 1.2% in the second quarter. Bank of New York Mellon Corp now owns 2,081,031 shares of the real estate investment trust's stock worth $17,585,000 after purchasing an additional 25,154 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of DiamondRock Hospitality by 46.0% during the second quarter. Allspring Global Investments Holdings LLC now owns 67,532 shares of the real estate investment trust's stock worth $571,000 after purchasing an additional 21,292 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in DiamondRock Hospitality by 6.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 95,258 shares of the real estate investment trust's stock valued at $805,000 after buying an additional 5,881 shares during the last quarter.

Analyst Ratings Changes

Several analysts have commented on DRH shares. Wells Fargo & Company decreased their price objective on shares of DiamondRock Hospitality from $9.50 to $9.00 and set an "equal weight" rating for the company in a research note on Friday, September 13th. Evercore ISI lowered 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 cut their price target on DiamondRock Hospitality from $11.00 to $10.00 and set a "hold" rating on the stock in a research report on Wednesday, September 4th. Stifel Nicolaus downgraded DiamondRock Hospitality from a "buy" rating to a "hold" rating and lowered their target price for the stock from $10.75 to $10.25 in a research note on Friday, November 22nd. Finally, StockNews.com raised DiamondRock Hospitality from a "sell" rating to a "hold" rating in a report on Tuesday, November 12th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat, DiamondRock Hospitality currently has a consensus rating of "Hold" and an average price target of $10.13.

DiamondRock Hospitality Price Performance

Shares of DRH stock traded up $0.01 during mid-day trading on Friday, hitting $9.58. 1,703,498 shares of the stock were exchanged, compared to its average volume of 1,917,477. DiamondRock Hospitality has a 52-week low of $7.74 and a 52-week high of $10.00. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.66. The company has a market cap of $1.99 billion, a PE ratio of 34.21, a price-to-earnings-growth ratio of 5.67 and a beta of 1.60. The firm has a fifty day moving average of $9.02 and a 200 day moving average of $8.61.

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 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.