AlphaQuest LLC purchased a new position in shares of DiamondRock Hospitality (NYSE:DRH - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 87,360 shares of the real estate investment trust's stock, valued at approximately $789,000.
Several other hedge funds have also recently modified their holdings of DRH. Orion Portfolio Solutions LLC raised its holdings in DiamondRock Hospitality by 1.6% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 104,965 shares of the real estate investment trust's stock valued at $916,000 after acquiring an additional 1,652 shares during the last quarter. Vert Asset Management LLC raised its holdings in DiamondRock Hospitality by 2.1% in the 4th quarter. Vert Asset Management LLC now owns 82,570 shares of the real estate investment trust's stock valued at $746,000 after acquiring an additional 1,729 shares during the last quarter. Metis Global Partners LLC raised its holdings in DiamondRock Hospitality by 11.4% in the 4th quarter. Metis Global Partners LLC now owns 23,773 shares of the real estate investment trust's stock valued at $215,000 after acquiring an additional 2,427 shares during the last quarter. Daiwa Securities Group Inc. raised its holdings in DiamondRock Hospitality by 3.9% in the 3rd quarter. Daiwa Securities Group Inc. now owns 68,728 shares of the real estate investment trust's stock valued at $600,000 after acquiring an additional 2,598 shares during the last quarter. Finally, Van ECK Associates Corp raised its holdings in DiamondRock Hospitality by 8.4% in the 4th quarter. Van ECK Associates Corp now owns 39,187 shares of the real estate investment trust's stock valued at $354,000 after acquiring an additional 3,027 shares during the last quarter.
DiamondRock Hospitality Stock Performance
DiamondRock Hospitality stock opened at $7.91 on Wednesday. The firm has a 50 day simple moving average of $8.64 and a 200-day simple moving average of $8.87. DiamondRock Hospitality has a 1-year low of $7.74 and a 1-year high of $10.00. 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 stock has a market cap of $1.64 billion, a price-to-earnings ratio of 28.23, a price-to-earnings-growth ratio of 2.06 and a beta of 1.63.
DiamondRock Hospitality Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be given a dividend of $0.08 per share. The ex-dividend date is Friday, March 28th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 4.05%. This is a boost from DiamondRock Hospitality's previous quarterly dividend of $0.03. DiamondRock Hospitality's dividend payout ratio (DPR) is presently 188.24%.
Analyst Ratings Changes
DRH has been the subject of a number of recent research reports. Wells Fargo & Company cut their price objective on shares of DiamondRock Hospitality from $10.50 to $9.50 and set an "equal weight" rating for the company in a report on Tuesday, February 18th. StockNews.com upgraded shares of DiamondRock Hospitality from a "sell" rating to a "hold" rating in a report on Tuesday, November 12th. Evercore ISI cut shares of DiamondRock Hospitality from an "outperform" rating to an "inline" rating and set a $10.50 price target for the company. in a research note on Friday, November 15th. Finally, Stifel Nicolaus cut shares of DiamondRock Hospitality from a "buy" rating to a "hold" rating and dropped their price target for the company from $10.75 to $10.25 in a research note on Friday, November 22nd. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $10.05.
Read Our Latest Stock Analysis on DRH
DiamondRock Hospitality Company Profile
(
Free Report)
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.
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