Amundi Acquires 68,100 Shares of DiamondRock Hospitality (NYSE:DRH)

Amundi lifted its position in shares of DiamondRock Hospitality (NYSE:DRH - Free Report) by 44.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 222,965 shares of the real estate investment trust's stock after purchasing an additional 68,100 shares during the period. Amundi owned 0.11% of DiamondRock Hospitality worth $1,960,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of DRH. Raymond James Financial Inc. acquired a new position in shares of DiamondRock Hospitality in the fourth quarter valued at $1,816,000. Cbre Investment Management Listed Real Assets LLC acquired a new position in DiamondRock Hospitality in the 4th quarter valued at about $14,889,000. Carrera Capital Advisors bought a new position in DiamondRock Hospitality in the 4th quarter valued at about $1,875,000. Charles Schwab Investment Management Inc. lifted its position in DiamondRock Hospitality by 1.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,557,580 shares of the real estate investment trust's stock worth $41,155,000 after acquiring an additional 81,916 shares during the last quarter. Finally, Bailard Inc. bought a new stake in shares of DiamondRock Hospitality during the fourth quarter worth approximately $736,000.

DiamondRock Hospitality Price Performance

Shares of DRH stock traded down $0.09 during trading on Friday, hitting $7.90. The company had a trading volume of 5,077,214 shares, compared to its average volume of 1,966,021. The firm has a market capitalization of $1.64 billion, a P/E ratio of 28.20, a price-to-earnings-growth ratio of 2.06 and a beta of 1.63. DiamondRock Hospitality has a one year low of $7.66 and a one year high of $10.00. 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's 50-day moving average price is $8.50 and its 200 day moving average price is $8.83.

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DiamondRock Hospitality Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 4.05%. The ex-dividend date of this dividend is Friday, March 28th. This is an increase from DiamondRock Hospitality's previous quarterly dividend of $0.03. DiamondRock Hospitality's payout ratio is 188.24%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on DRH. Wells Fargo & Company lowered their target price on DiamondRock Hospitality from $10.50 to $9.50 and set an "equal weight" rating on the stock in a research note on Tuesday, February 18th. Stifel Nicolaus cut DiamondRock Hospitality from a "buy" rating to a "hold" rating and lowered their price objective for the stock from $10.75 to $10.25 in a research report on Friday, November 22nd. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat, DiamondRock Hospitality currently has a consensus rating of "Hold" and a consensus target price of $10.05.

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.