First Mercantile Trust Co. Decreases Holdings in DiamondRock Hospitality (DRH)

First Mercantile Trust Co. cut its holdings in shares of DiamondRock Hospitality (NYSE:DRH) by 26.4% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 13,660 shares of the real estate investment trust’s stock after selling 4,900 shares during the quarter. First Mercantile Trust Co.’s holdings in DiamondRock Hospitality were worth $154,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of DRH. Resolution Capital Ltd raised its stake in shares of DiamondRock Hospitality by 16.1% during the fourth quarter. Resolution Capital Ltd now owns 8,397,378 shares of the real estate investment trust’s stock worth $94,806,000 after acquiring an additional 1,164,594 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of DiamondRock Hospitality by 19.2% during the third quarter. JPMorgan Chase & Co. now owns 3,340,041 shares of the real estate investment trust’s stock worth $36,640,000 after acquiring an additional 538,429 shares in the last quarter. Perpetual Ltd purchased a new position in shares of DiamondRock Hospitality during the second quarter worth approximately $4,290,000. State Street Corp raised its stake in shares of DiamondRock Hospitality by 4.6% during the second quarter. State Street Corp now owns 8,067,041 shares of the real estate investment trust’s stock worth $88,338,000 after acquiring an additional 356,960 shares in the last quarter. Finally, Victory Capital Management Inc. raised its stake in shares of DiamondRock Hospitality by 10.6% during the fourth quarter. Victory Capital Management Inc. now owns 3,306,571 shares of the real estate investment trust’s stock worth $37,331,000 after acquiring an additional 316,999 shares in the last quarter.

Several research analysts have commented on DRH shares. TheStreet raised shares of DiamondRock Hospitality from a “c+” rating to a “b-” rating in a research note on Friday, December 29th. Robert W. Baird reaffirmed a “buy” rating and issued a $12.00 target price on shares of DiamondRock Hospitality in a research note on Friday, November 10th. KeyCorp reaffirmed a “hold” rating on shares of DiamondRock Hospitality in a research note on Tuesday, October 24th. Boenning Scattergood raised shares of DiamondRock Hospitality from an “under perform” rating to a “neutral” rating in a research note on Friday, December 8th. Finally, Evercore ISI raised shares of DiamondRock Hospitality from an “in-line” rating to an “outperform” rating in a research note on Monday, December 4th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the company. DiamondRock Hospitality currently has a consensus rating of “Buy” and a consensus target price of $12.00.

Shares of DiamondRock Hospitality (DRH) opened at $11.20 on Thursday. The firm has a market cap of $2,223.39, a price-to-earnings ratio of 11.21, a P/E/G ratio of 2.24 and a beta of 1.35. DiamondRock Hospitality has a fifty-two week low of $10.43 and a fifty-two week high of $12.11. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 0.51.

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DiamondRock Hospitality Profile

DiamondRock Hospitality Company is a real estate investment trust (REIT). As of December 31, 2016, the Company owned a portfolio of 26 hotels and resorts that contains 9,472 guest rooms located in 17 different markets in North America and the United States Virgin Islands. Its business is to acquire, own, asset manage and renovate hotel properties in the United States.

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

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