Advisors Preferred LLC Invests $4.13 Million in DiamondRock Hospitality (NYSE:DRH)

Advisors Preferred LLC bought a new position in DiamondRock Hospitality (NYSE:DRH - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 463,159 shares of the real estate investment trust's stock, valued at approximately $4,131,000. Advisors Preferred LLC owned 0.22% of DiamondRock Hospitality as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Rush Island Management LP acquired a new stake in DiamondRock Hospitality in the 3rd quarter worth $51,726,000. Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of DiamondRock Hospitality by 458.3% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,300,414 shares of the real estate investment trust's stock worth $11,743,000 after buying an additional 1,067,497 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in DiamondRock Hospitality by 326.6% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,235,728 shares of the real estate investment trust's stock worth $10,788,000 after buying an additional 946,073 shares in the last quarter. Hotchkis & Wiley Capital Management LLC bought a new position in DiamondRock Hospitality in the 3rd quarter valued at $6,442,000. Finally, Wellington Management Group LLP lifted its holdings in DiamondRock Hospitality by 15.6% in the third quarter. Wellington Management Group LLP now owns 4,925,093 shares of the real estate investment trust's stock valued at $42,996,000 after buying an additional 663,529 shares during the period.

DiamondRock Hospitality Price Performance

DiamondRock Hospitality stock traded down $0.13 during midday trading on Wednesday, hitting $8.49. 1,345,254 shares of the company's stock were exchanged, compared to its average volume of 1,552,673. The company has a market cap of $1.76 billion, a P/E ratio of 30.32, a PEG ratio of 4.88 and a beta of 1.57. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.73 and a current ratio of 1.73. The stock has a 50-day moving average price of $9.08 and a two-hundred day moving average price of $8.85. DiamondRock Hospitality has a 52-week low of $7.74 and a 52-week high of $10.00.

DiamondRock Hospitality Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 14th. Stockholders of record on Tuesday, December 31st were paid a $0.32 dividend. This is a boost from DiamondRock Hospitality's previous quarterly dividend of $0.03. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $1.28 dividend on an annualized basis and a dividend yield of 15.08%. DiamondRock Hospitality's dividend payout ratio is 42.86%.

Analyst Upgrades and Downgrades

DRH has been the subject of several recent analyst reports. Stifel Nicolaus downgraded DiamondRock Hospitality from a "buy" rating to a "hold" rating and lowered their price target for the stock from $10.75 to $10.25 in a report on Friday, November 22nd. StockNews.com upgraded shares of DiamondRock Hospitality from a "sell" rating to a "hold" rating in a research report on Tuesday, November 12th. Wells Fargo & Company increased their price target on shares of DiamondRock Hospitality from $10.00 to $10.50 and gave the stock an "equal weight" rating in a research report on Monday, December 9th. Finally, Evercore ISI downgraded shares of DiamondRock Hospitality from an "outperform" rating to an "inline" rating and set a $10.50 price target on the stock. in a research note on Friday, November 15th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat, DiamondRock Hospitality presently has an average rating of "Hold" and a consensus price target of $10.25.

DiamondRock Hospitality Company Profile

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.