Citadel Advisors LLC Sells 1,531,174 Shares of DiamondRock Hospitality (DRH)

Citadel Advisors LLC lessened its position in DiamondRock Hospitality (NYSE:DRH) by 69.9% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 658,878 shares of the real estate investment trust’s stock after selling 1,531,174 shares during the period. Citadel Advisors LLC’s holdings in DiamondRock Hospitality were worth $7,689,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in DRH. Acadian Asset Management LLC purchased a new position in shares of DiamondRock Hospitality in the 2nd quarter worth about $318,000. Dupont Capital Management Corp raised its holdings in shares of DiamondRock Hospitality by 12.6% in the 2nd quarter. Dupont Capital Management Corp now owns 64,940 shares of the real estate investment trust’s stock worth $797,000 after purchasing an additional 7,249 shares during the period. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in shares of DiamondRock Hospitality by 2.7% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 201,011 shares of the real estate investment trust’s stock worth $2,468,000 after purchasing an additional 5,247 shares during the period. First Trust Advisors LP raised its holdings in shares of DiamondRock Hospitality by 98.9% in the 2nd quarter. First Trust Advisors LP now owns 465,722 shares of the real estate investment trust’s stock worth $5,719,000 after purchasing an additional 231,557 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new position in shares of DiamondRock Hospitality in the 2nd quarter worth about $521,000.

DRH stock opened at $10.31 on Friday. The company has a quick ratio of 2.48, a current ratio of 2.48 and a debt-to-equity ratio of 0.49. DiamondRock Hospitality has a 1 year low of $9.87 and a 1 year high of $12.99. The stock has a market capitalization of $2.15 billion, a PE ratio of 10.26, a P/E/G ratio of 2.96 and a beta of 1.38.

DiamondRock Hospitality (NYSE:DRH) last posted its earnings results on Monday, November 5th. The real estate investment trust reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.12). DiamondRock Hospitality had a net margin of 10.45% and a return on equity of 4.74%. The company had revenue of $220.81 million during the quarter, compared to analyst estimates of $227.40 million. During the same quarter last year, the business posted $0.25 EPS. DiamondRock Hospitality’s quarterly revenue was down 1.2% compared to the same quarter last year. Equities analysts predict that DiamondRock Hospitality will post 1.01 earnings per share for the current year.

A number of equities research analysts have recently issued reports on DRH shares. TheStreet lowered DiamondRock Hospitality from a “b-” rating to a “c” rating in a research note on Tuesday, November 6th. Zacks Investment Research lowered DiamondRock Hospitality from a “buy” rating to a “hold” rating in a research note on Thursday, October 25th. Wells Fargo & Co lowered DiamondRock Hospitality from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $14.00 to $11.00 in a research note on Wednesday, October 31st. Finally, ValuEngine lowered DiamondRock Hospitality from a “hold” rating to a “sell” rating in a research note on Tuesday, November 6th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $11.89.

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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 top gateway markets and destination resort locations. The Company owns 30 premium quality hotels with over 9,900 rooms. The Company has strategically positioned its hotels to be operated both under leading global brand families such as Hilton and Marriott as well as unique boutique hotels in the lifestyle segment.

Further Reading: Earnings Reports

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

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