BNP Paribas Arbitrage SA boosted its holdings in Diamondrock Hospitality Company (NYSE:DRH) by 228.0% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 413,090 shares of the real estate investment trust’s stock after purchasing an additional 287,152 shares during the period. BNP Paribas Arbitrage SA owned about 0.21% of Diamondrock Hospitality worth $4,523,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Ronald Blue & Co. LLC boosted its holdings in Diamondrock Hospitality by 1.0% in the second quarter. Ronald Blue & Co. LLC now owns 11,203 shares of the real estate investment trust’s stock valued at $123,000 after purchasing an additional 116 shares during the last quarter. HRT Financial LLC purchased a new position in Diamondrock Hospitality in the second quarter valued at about $142,000. World Asset Management Inc boosted its holdings in Diamondrock Hospitality by 2.2% in the second quarter. World Asset Management Inc now owns 13,047 shares of the real estate investment trust’s stock valued at $143,000 after purchasing an additional 282 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Diamondrock Hospitality by 15.2% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,787 shares of the real estate investment trust’s stock valued at $173,000 after purchasing an additional 2,081 shares during the last quarter. Finally, ARP Americas LLC purchased a new position in Diamondrock Hospitality in the second quarter valued at about $177,000.

ILLEGAL ACTIVITY WARNING: “BNP Paribas Arbitrage SA Has $4.52 Million Position in Diamondrock Hospitality Company (DRH)” was first published by The Cerbat Gem and is owned by of The Cerbat Gem. If you are reading this article on another publication, it was stolen and republished in violation of United States and international copyright & trademark legislation. The legal version of this article can be accessed at https://www.thecerbatgem.com/2017/11/19/bnp-paribas-arbitrage-sa-has-4-52-million-position-in-diamondrock-hospitality-company-drh.html.

A number of research analysts recently commented on DRH shares. Stifel Nicolaus reissued a “buy” rating on shares of Diamondrock Hospitality in a report on Thursday, August 10th. Canaccord Genuity reissued a “buy” rating and issued a $13.00 price target on shares of Diamondrock Hospitality in a report on Monday, August 7th. Robert W. Baird set a $12.00 price target on Diamondrock Hospitality and gave the company a “buy” rating in a report on Sunday, September 10th. Zacks Investment Research raised Diamondrock Hospitality from a “hold” rating to a “buy” rating and set a $12.00 price target for the company in a report on Wednesday, October 11th. Finally, TheStreet downgraded Diamondrock Hospitality from a “b” rating to a “c+” rating in a report on Monday, November 6th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the stock. Diamondrock Hospitality currently has a consensus rating of “Hold” and an average target price of $12.00.

Diamondrock Hospitality Company (NYSE DRH) opened at $11.19 on Friday. 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 Company has a 1-year low of $10.03 and a 1-year high of $12.07. The company has a market capitalization of $2,241.41, a P/E ratio of 11.30, a price-to-earnings-growth ratio of 2.31 and a beta of 1.33.

Diamondrock Hospitality (NYSE:DRH) last announced its quarterly earnings results on Monday, November 6th. The real estate investment trust reported $0.25 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.25. The business had revenue of $223.50 million for the quarter, compared to the consensus estimate of $223.30 million. Diamondrock Hospitality had a return on equity of 4.97% and a net margin of 10.47%. The business’s revenue was up 1.5% on a year-over-year basis. During the same quarter last year, the business posted $0.26 EPS. sell-side analysts expect that Diamondrock Hospitality Company will post 0.97 earnings per share for the current year.

About Diamondrock Hospitality

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.

Want to see what other hedge funds are holding DRH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Diamondrock Hospitality Company (NYSE:DRH).

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

Receive News & Stock Ratings for Diamondrock Hospitality Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Diamondrock Hospitality Company and related stocks with our FREE daily email newsletter.