DiamondRock Hospitality (NYSE:DRH) Holdings Reduced by Great Lakes Advisors LLC

Great Lakes Advisors LLC lowered its position in DiamondRock Hospitality (NYSE:DRH - Free Report) by 13.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 423,188 shares of the real estate investment trust's stock after selling 67,825 shares during the quarter. Great Lakes Advisors LLC owned 0.20% of DiamondRock Hospitality worth $3,821,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of DiamondRock Hospitality by 45.2% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 138,327 shares of the real estate investment trust's stock valued at $1,249,000 after purchasing an additional 43,088 shares in the last quarter. AlphaQuest LLC acquired a new stake in shares of DiamondRock Hospitality in the 4th quarter valued at about $789,000. Amundi raised its stake in shares of DiamondRock Hospitality by 44.0% in the 4th quarter. Amundi now owns 222,965 shares of the real estate investment trust's stock valued at $1,960,000 after purchasing an additional 68,100 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of DiamondRock Hospitality in the 4th quarter valued at about $1,816,000. Finally, Cbre Investment Management Listed Real Assets LLC acquired a new stake in shares of DiamondRock Hospitality in the 4th quarter valued at about $14,889,000.

DiamondRock Hospitality Stock Performance

DRH traded up $0.12 on Wednesday, hitting $8.04. 1,846,826 shares of the company's stock were exchanged, compared to its average volume of 1,958,858. The firm has a market cap of $1.67 billion, a PE ratio of 28.70, a P/E/G ratio of 2.06 and a beta of 1.63. DiamondRock Hospitality has a twelve month low of $7.69 and a twelve month high of $10.00. The stock has a fifty day moving average of $8.53 and a two-hundred day moving average of $8.84. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.66.

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DiamondRock Hospitality Increases Dividend

The firm 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 positive change from DiamondRock Hospitality's previous quarterly dividend of $0.03. The ex-dividend date is Friday, March 28th. This represents a $0.32 annualized dividend and a yield of 3.98%. DiamondRock Hospitality's dividend payout ratio is 188.24%.

Analysts Set New Price Targets

DRH has been the topic of a number of recent analyst reports. Wells Fargo & Company cut their target price on shares of 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 lowered shares of DiamondRock Hospitality from a "buy" rating to a "hold" rating and cut their target price 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 issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $10.05.

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.