CIBC Asset Management Inc Increases Stake in DiamondRock Hospitality (DRH)

CIBC Asset Management Inc grew its stake in shares of DiamondRock Hospitality (NYSE:DRH) by 67.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 25,156 shares of the real estate investment trust’s stock after buying an additional 10,162 shares during the period. CIBC Asset Management Inc’s holdings in DiamondRock Hospitality were worth $284,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in DRH. GSA Capital Partners LLP grew its stake in shares of DiamondRock Hospitality by 6.0% during the 2nd quarter. GSA Capital Partners LLP now owns 16,442 shares of the real estate investment trust’s stock valued at $180,000 after buying an additional 930 shares during the period. Shelton Capital Management grew its stake in shares of DiamondRock Hospitality by 5.4% during the 2nd quarter. Shelton Capital Management now owns 19,890 shares of the real estate investment trust’s stock valued at $218,000 after buying an additional 1,024 shares during the period. Foundry Partners LLC grew its stake in shares of DiamondRock Hospitality by 21.0% during the 4th quarter. Foundry Partners LLC now owns 30,760 shares of the real estate investment trust’s stock valued at $347,000 after buying an additional 5,340 shares during the period. Quantitative Systematic Strategies LLC purchased a new stake in shares of DiamondRock Hospitality during the 4th quarter valued at $366,000. Finally, Eqis Capital Management Inc. grew its stake in shares of DiamondRock Hospitality by 18.6% during the 3rd quarter. Eqis Capital Management Inc. now owns 33,508 shares of the real estate investment trust’s stock valued at $367,000 after buying an additional 5,260 shares during the period.

Shares of DiamondRock Hospitality (NYSE DRH) opened at $11.10 on Wednesday. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 0.51. DiamondRock Hospitality has a 12-month low of $10.43 and a 12-month high of $12.11. The firm has a market cap of $2,227.39, a price-to-earnings ratio of 11.23, a P/E/G ratio of 2.24 and a beta of 1.35.

Several analysts have recently issued reports on the stock. TheStreet raised shares of DiamondRock Hospitality from a “c+” rating to a “b-” rating in a research note on Friday, December 29th. Zacks Investment Research cut shares of DiamondRock Hospitality from a “hold” rating to a “sell” rating in a research note on Tuesday, October 31st. Boenning Scattergood set a $10.00 price objective on shares of DiamondRock Hospitality and gave the company a “sell” rating in a research note on Thursday, October 26th. Robert W. Baird reissued a “buy” rating and set a $12.00 price objective on shares of DiamondRock Hospitality in a research note on Friday, November 10th. 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 eight have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $12.00.

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DiamondRock Hospitality Company 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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