Charles Schwab Investment Management Inc. raised its stake in DiamondRock Hospitality (NYSE:DRH - Free Report) by 1.8% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 4,557,580 shares of the real estate investment trust's stock after purchasing an additional 81,916 shares during the period. Charles Schwab Investment Management Inc. owned 2.20% of DiamondRock Hospitality worth $41,155,000 as of its most recent SEC filing.
Other institutional investors have also modified their holdings of the company. Orion Portfolio Solutions LLC boosted its holdings in DiamondRock Hospitality by 1.6% in the third quarter. Orion Portfolio Solutions LLC now owns 104,965 shares of the real estate investment trust's stock worth $916,000 after purchasing an additional 1,652 shares during the period. Vert Asset Management LLC lifted its position in shares of 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 worth $746,000 after buying an additional 1,729 shares during the last quarter. Metis Global Partners LLC boosted its holdings in shares of 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 buying an additional 2,427 shares during the period. Daiwa Securities Group Inc. grew its position in shares of DiamondRock Hospitality by 3.9% during 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 buying an additional 2,598 shares during the last quarter. Finally, Van ECK Associates Corp raised its stake in DiamondRock Hospitality by 8.4% during the fourth quarter. Van ECK Associates Corp now owns 39,187 shares of the real estate investment trust's stock worth $354,000 after acquiring an additional 3,027 shares during the period.
Analysts Set New Price Targets
A number of equities analysts have commented on DRH shares. Stifel Nicolaus downgraded DiamondRock Hospitality from a "buy" rating to a "hold" rating and decreased their target price for the company from $10.75 to $10.25 in a research note on Friday, November 22nd. Wells Fargo & Company reduced their price objective on DiamondRock Hospitality from $10.50 to $9.50 and set an "equal weight" rating for the company in a research report on Tuesday, February 18th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $10.05.
View Our Latest Stock Analysis on DRH
DiamondRock Hospitality Stock Performance
Shares of DRH traded up $0.14 during mid-day trading on Wednesday, reaching $8.06. 1,039,938 shares of the company's stock traded hands, compared to its average volume of 1,942,555. DiamondRock Hospitality has a 12 month low of $7.69 and a 12 month high of $10.00. The stock has a market capitalization of $1.68 billion, a P/E ratio of 28.77, a price-to-earnings-growth ratio of 2.06 and a beta of 1.63. The business's 50-day moving average price is $8.53 and its 200-day moving average price is $8.84. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.73 and a current ratio of 1.73.
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 paid a dividend of $0.08 per share. This is a boost from DiamondRock Hospitality's previous quarterly dividend of $0.03. This represents a $0.32 dividend on an annualized basis and a dividend yield of 3.97%. The ex-dividend date of this dividend is Friday, March 28th. DiamondRock Hospitality's payout ratio is currently 188.24%.
DiamondRock Hospitality Profile
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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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