ExodusPoint Capital Management LP Boosts Stock Position in DiamondRock Hospitality (NYSE:DRH)

ExodusPoint Capital Management LP increased its holdings in shares of DiamondRock Hospitality (NYSE:DRH - Free Report) by 2.9% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 1,462,512 shares of the real estate investment trust's stock after acquiring an additional 41,701 shares during the period. ExodusPoint Capital Management LP owned about 0.70% of DiamondRock Hospitality worth $13,206,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Rush Island Management LP purchased a new stake in shares of DiamondRock Hospitality in the 3rd quarter worth $51,726,000. Cbre Investment Management Listed Real Assets LLC bought a new stake in shares of DiamondRock Hospitality in the fourth quarter valued at about $14,889,000. Sumitomo Mitsui Trust Group Inc. lifted its stake in DiamondRock Hospitality by 458.3% in 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 acquiring an additional 1,067,497 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings 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 acquiring an additional 946,073 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its position in DiamondRock Hospitality by 18.7% during the 4th quarter. JPMorgan Chase & Co. now owns 5,716,469 shares of the real estate investment trust's stock valued at $51,620,000 after purchasing an additional 901,600 shares during the period.

DiamondRock Hospitality Stock Up 13.8 %

Shares of DiamondRock Hospitality stock traded up $0.88 during trading on Wednesday, reaching $7.28. The company's stock had a trading volume of 6,167,284 shares, compared to its average volume of 2,173,097. DiamondRock Hospitality has a 1-year low of $6.19 and a 1-year high of $10.00. The company has a 50-day simple moving average of $8.03 and a two-hundred day simple moving average of $8.70. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.66. The company has a market cap of $1.51 billion, a price-to-earnings ratio of 26.00, a P/E/G ratio of 2.06 and a beta of 1.38.

DiamondRock Hospitality Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be issued a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 4.40%. The ex-dividend date is Friday, March 28th. This is an increase from DiamondRock Hospitality's previous quarterly dividend of $0.03. DiamondRock Hospitality's dividend payout ratio (DPR) is currently 188.24%.

Analyst Ratings Changes

Separately, Wells Fargo & Company dropped their price objective 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 investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $10.05.

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.