Pictet Asset Management SA Buys 6,494 Shares of DiamondRock Hospitality (NYSE:DRH)

Pictet Asset Management SA grew its stake in DiamondRock Hospitality (NYSE:DRHGet Rating) by 8.2% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 85,944 shares of the real estate investment trust’s stock after purchasing an additional 6,494 shares during the quarter. Pictet Asset Management SA’s holdings in DiamondRock Hospitality were worth $706,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. 1620 Investment Advisors Inc. lifted its holdings in shares of DiamondRock Hospitality by 4.4% in the second quarter. 1620 Investment Advisors Inc. now owns 76,087 shares of the real estate investment trust’s stock valued at $625,000 after purchasing an additional 3,215 shares in the last quarter. Duality Advisers LP purchased a new stake in shares of DiamondRock Hospitality during the second quarter valued at approximately $118,000. MESIROW FINANCIAL INVESTMENT MANAGEMENT Equity & Fixed Income increased its position in shares of DiamondRock Hospitality by 14.2% during the second quarter. MESIROW FINANCIAL INVESTMENT MANAGEMENT Equity & Fixed Income now owns 1,265,961 shares of the real estate investment trust’s stock valued at $10,394,000 after acquiring an additional 157,748 shares during the last quarter. Texas Permanent School Fund increased its position in shares of DiamondRock Hospitality by 2.1% during the second quarter. Texas Permanent School Fund now owns 152,406 shares of the real estate investment trust’s stock valued at $1,251,000 after acquiring an additional 3,086 shares during the last quarter. Finally, M&T Bank Corp increased its position in shares of DiamondRock Hospitality by 10.8% during the second quarter. M&T Bank Corp now owns 22,480 shares of the real estate investment trust’s stock valued at $184,000 after acquiring an additional 2,189 shares during the last quarter.

Analyst Ratings Changes

DRH has been the subject of a number of research analyst reports. Evercore ISI raised DiamondRock Hospitality from an “in-line” rating to an “outperform” rating in a research report on Tuesday, October 18th. Compass Point decreased their price target on DiamondRock Hospitality to $11.00 in a research report on Tuesday, November 15th. StockNews.com started coverage on DiamondRock Hospitality in a research report on Wednesday, October 12th. They set a “hold” rating for the company. Citigroup raised their target price on DiamondRock Hospitality to $10.00 in a research report on Monday, August 22nd. Finally, Wells Fargo & Company downgraded DiamondRock Hospitality from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $11.00 to $10.00 in a research report on Monday, August 29th. One analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $10.67.

DiamondRock Hospitality Stock Performance

NYSE:DRH opened at $8.96 on Thursday. The company has a market capitalization of $1.89 billion, a P/E ratio of 24.89 and a beta of 1.64. DiamondRock Hospitality has a 1 year low of $7.18 and a 1 year high of $11.15. The company has a debt-to-equity ratio of 0.85, a current ratio of 3.29 and a quick ratio of 3.29. The business has a fifty day simple moving average of $8.52 and a two-hundred day simple moving average of $8.95.

About DiamondRock Hospitality

(Get Rating)

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 as well as unique boutique hotels in the lifestyle segment.

Further Reading

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Institutional Ownership by Quarter for DiamondRock Hospitality (NYSE:DRH)

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