Centersquare Investment Management LLC Acquires 834,506 Shares of DiamondRock Hospitality (NYSE:DRH)

Centersquare Investment Management LLC increased its holdings in DiamondRock Hospitality (NYSE:DRH - Free Report) by 18.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,283,922 shares of the real estate investment trust's stock after acquiring an additional 834,506 shares during the quarter. Centersquare Investment Management LLC owned about 2.55% of DiamondRock Hospitality worth $47,714,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Xponance Inc. lifted its holdings in shares of DiamondRock Hospitality by 9.9% during the fourth quarter. Xponance Inc. now owns 15,098 shares of the real estate investment trust's stock valued at $136,000 after purchasing an additional 1,360 shares during the last quarter. Orion Portfolio Solutions LLC raised its stake in DiamondRock Hospitality by 1.6% during the third quarter. Orion Portfolio Solutions LLC now owns 104,965 shares of the real estate investment trust's stock valued at $916,000 after buying an additional 1,652 shares during the last quarter. Vert Asset Management LLC boosted its holdings in DiamondRock Hospitality by 2.1% in the fourth quarter. Vert Asset Management LLC now owns 82,570 shares of the real estate investment trust's stock worth $746,000 after acquiring an additional 1,729 shares in the last quarter. Metis Global Partners LLC grew its stake in shares of DiamondRock Hospitality by 11.4% in the fourth quarter. Metis Global Partners LLC now owns 23,773 shares of the real estate investment trust's stock worth $215,000 after acquiring an additional 2,427 shares during the last quarter. Finally, Van ECK Associates Corp increased its holdings in shares of 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 valued at $354,000 after acquiring an additional 3,027 shares in the last quarter.

Analyst Upgrades and Downgrades

Separately, Wells Fargo & Company dropped their price target 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. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $10.05.

DiamondRock Hospitality Stock Up 0.6 %

Shares of DRH stock traded up $0.04 during mid-day trading on Wednesday, hitting $6.44. The company's stock had a trading volume of 859,965 shares, compared to its average volume of 2,241,761. The stock has a market cap of $1.34 billion, a price-to-earnings ratio of 22.96, a PEG ratio of 2.06 and a beta of 1.38. 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 has a 52-week low of $6.19 and a 52-week high of $10.00. The business has a 50-day moving average price of $8.09 and a 200 day moving average price of $8.73.

DiamondRock Hospitality Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be given a $0.08 dividend. 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 dividend on an annualized basis and a yield of 4.97%. DiamondRock Hospitality's payout ratio is 188.24%.

DiamondRock Hospitality 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.