DiamondRock Hospitality (NYSE:DRH) Shares Sold by MetLife Investment Management LLC

MetLife Investment Management LLC lessened its holdings in DiamondRock Hospitality (NYSE:DRH) by 3.8% in the 3rd quarter, Holdings Channel.com reports. The fund owned 121,970 shares of the real estate investment trust’s stock after selling 4,865 shares during the period. MetLife Investment Management LLC’s holdings in DiamondRock Hospitality were worth $1,065,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. Quarry LP boosted its stake in DiamondRock Hospitality by 2,093.9% in the 2nd quarter. Quarry LP now owns 3,949 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 3,769 shares in the last quarter. Headlands Technologies LLC purchased a new position in shares of DiamondRock Hospitality in the second quarter worth $42,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of DiamondRock Hospitality by 35.1% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,153 shares of the real estate investment trust’s stock worth $73,000 after buying an additional 2,116 shares during the period. Harbor Capital Advisors Inc. purchased a new stake in shares of DiamondRock Hospitality during the third quarter valued at $74,000. Finally, Choreo LLC acquired a new position in shares of DiamondRock Hospitality in the 2nd quarter valued at $89,000.

DiamondRock Hospitality Price Performance

NYSE:DRH opened at $9.58 on Friday. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.73 and a quick ratio of 1.73. The company has a 50 day moving average price of $9.02 and a 200-day moving average price of $8.61. DiamondRock Hospitality has a 1-year low of $7.74 and a 1-year high of $10.00. The firm has a market cap of $1.99 billion, a price-to-earnings ratio of 34.21, a price-to-earnings-growth ratio of 5.67 and a beta of 1.60.

Analyst Upgrades and Downgrades

A number of analysts have commented on DRH shares. Evercore ISI cut DiamondRock Hospitality from an “outperform” rating to an “inline” rating and set a $10.50 price target for the company. in a research report on Friday, November 15th. Truist Financial dropped their target price 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 lowered shares of DiamondRock Hospitality from a “buy” rating to a “hold” rating and reduced their price target for the stock from $10.75 to $10.25 in a research report on Friday, November 22nd. StockNews.com raised shares of DiamondRock Hospitality from a “sell” rating to a “hold” rating in a report on Tuesday, November 12th. Finally, Wells Fargo & Company reduced their target price on shares of DiamondRock Hospitality from $9.50 to $9.00 and set an “equal weight” rating for the company in a report on Friday, September 13th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $10.13.

About DiamondRock Hospitality

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.