Lasalle Investment Management Securities LLC Purchases New Holdings in DiamondRock Hospitality (NYSE:DRH)

Lasalle Investment Management Securities LLC purchased a new stake in shares of DiamondRock Hospitality (NYSE:DRH - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 1,105,375 shares of the real estate investment trust's stock, valued at approximately $9,982,000. Lasalle Investment Management Securities LLC owned 0.53% of DiamondRock Hospitality as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. FIL Ltd bought a new stake in DiamondRock Hospitality during the 4th quarter valued at approximately $60,000. Smartleaf Asset Management LLC grew its holdings in DiamondRock Hospitality by 278.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 9,769 shares of the real estate investment trust's stock valued at $89,000 after buying an additional 7,189 shares in the last quarter. KBC Group NV grew its holdings in DiamondRock Hospitality by 55.9% during the 4th quarter. KBC Group NV now owns 10,436 shares of the real estate investment trust's stock valued at $94,000 after buying an additional 3,744 shares in the last quarter. Xponance Inc. raised its position in shares of DiamondRock Hospitality by 9.9% during the fourth quarter. Xponance Inc. now owns 15,098 shares of the real estate investment trust's stock valued at $136,000 after buying an additional 1,360 shares during the last quarter. Finally, Choreo LLC lifted its holdings in shares of DiamondRock Hospitality by 55.1% in the fourth quarter. Choreo LLC now owns 15,553 shares of the real estate investment trust's stock worth $142,000 after buying an additional 5,523 shares in the last quarter.

Analysts Set New Price Targets

Several analysts have commented on the stock. Stifel Nicolaus decreased their price target on shares of DiamondRock Hospitality from $9.75 to $8.00 and set a "hold" rating on the stock in a research note on Wednesday, April 16th. Wells Fargo & Company decreased their target price on DiamondRock Hospitality from $10.50 to $9.50 and set an "equal weight" rating on the stock in a research report on Tuesday, February 18th. Finally, Morgan Stanley cut their price target on DiamondRock Hospitality from $9.00 to $7.00 and set an "equal weight" rating for the company in a report on Tuesday. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $9.17.

DiamondRock Hospitality Trading Up 1.0 %

NYSE DRH traded up $0.07 during trading hours on Thursday, hitting $7.11. 1,589,798 shares of the company were exchanged, compared to its average volume of 2,163,611. DiamondRock Hospitality has a 52 week low of $5.01 and a 52 week high of $10.00. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.66. The stock has a 50-day moving average price of $7.70 and a 200 day moving average price of $8.57. The stock has a market cap of $1.48 billion, a PE ratio of 25.39, a price-to-earnings-growth ratio of 2.06 and a beta of 1.38.

DiamondRock Hospitality Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Friday, March 28th were given a dividend of $0.08 per share. The ex-dividend date was Friday, March 28th. This represents a $0.32 annualized dividend and a dividend yield of 4.50%. This is an increase from DiamondRock Hospitality's previous quarterly dividend of $0.03. DiamondRock Hospitality's payout ratio is currently 188.24%.

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.