Schroder Investment Management Group Sells 57,185 Shares of DiamondRock Hospitality (NYSE:DRH)

Schroder Investment Management Group lowered its position in DiamondRock Hospitality (NYSE:DRH - Free Report) by 4.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,375,829 shares of the real estate investment trust's stock after selling 57,185 shares during the quarter. Schroder Investment Management Group owned about 0.66% of DiamondRock Hospitality worth $12,286,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in DRH. State Street Corp raised its position in DiamondRock Hospitality by 1.8% in the 3rd quarter. State Street Corp now owns 12,535,384 shares of the real estate investment trust's stock worth $109,806,000 after purchasing an additional 221,219 shares during the period. Rush Island Management LP bought a new position in shares of DiamondRock Hospitality during the third quarter valued at approximately $51,726,000. JPMorgan Chase & Co. raised its holdings in shares of DiamondRock Hospitality by 18.7% in the fourth quarter. JPMorgan Chase & Co. now owns 5,716,469 shares of the real estate investment trust's stock worth $51,620,000 after buying an additional 901,600 shares during the period. Geode Capital Management LLC lifted its stake in shares of DiamondRock Hospitality by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 5,350,283 shares of the real estate investment trust's stock worth $46,716,000 after acquiring an additional 28,391 shares during the last quarter. Finally, Wellington Management Group LLP boosted its holdings in DiamondRock Hospitality by 15.6% during the 3rd quarter. Wellington Management Group LLP now owns 4,925,093 shares of the real estate investment trust's stock valued at $42,996,000 after acquiring an additional 663,529 shares during the period.

DiamondRock Hospitality Stock Down 5.0 %

NYSE DRH traded down $0.34 on Tuesday, reaching $6.39. 3,815,138 shares of the stock traded hands, compared to its average volume of 2,153,053. DiamondRock Hospitality has a 12 month low of $6.32 and a 12 month high of $10.00. The company has a market cap of $1.33 billion, a price-to-earnings ratio of 22.80, a PEG ratio of 2.06 and a beta of 1.38. The company has a fifty day moving average price of $8.09 and a 200-day moving average price of $8.73. 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 company also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be issued a $0.08 dividend. This is an increase from DiamondRock Hospitality's previous quarterly dividend of $0.03. This represents a $0.32 annualized dividend and a dividend yield of 5.01%. The ex-dividend date is Friday, March 28th. DiamondRock Hospitality's payout ratio is presently 188.24%.

Analysts Set New Price Targets

Separately, Wells Fargo & Company decreased their target price 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 research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, DiamondRock Hospitality 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.