DiamondRock Hospitality (NYSE:DRH) Shares Sold by Vanguard Group Inc.

Vanguard Group Inc. cut its stake in DiamondRock Hospitality (NYSE:DRH - Free Report) by 2.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 32,920,405 shares of the real estate investment trust's stock after selling 800,293 shares during the period. Vanguard Group Inc. owned approximately 15.86% of DiamondRock Hospitality worth $297,271,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Wellington Management Group LLP grew its holdings in DiamondRock Hospitality by 15.6% in 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 buying an additional 663,529 shares in the last quarter. Jane Street Group LLC grew its holdings in shares of DiamondRock Hospitality by 73.0% in the third quarter. Jane Street Group LLC now owns 302,757 shares of the real estate investment trust's stock valued at $2,643,000 after purchasing an additional 127,717 shares during the period. Geode Capital Management LLC increased its position in DiamondRock Hospitality by 0.5% during the third quarter. Geode Capital Management LLC now owns 5,350,283 shares of the real estate investment trust's stock worth $46,716,000 after purchasing an additional 28,391 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in DiamondRock Hospitality by 45.2% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 138,327 shares of the real estate investment trust's stock worth $1,249,000 after purchasing an additional 43,088 shares during the period. Finally, Cbre Investment Management Listed Real Assets LLC acquired a new position in DiamondRock Hospitality in the 4th quarter valued at about $14,889,000.

DiamondRock Hospitality Trading Up 13.8 %

DRH stock traded up $0.88 during mid-day trading on Wednesday, hitting $7.28. 6,167,284 shares of the company were exchanged, compared to its average volume of 2,173,097. The business has a fifty day simple moving average of $8.03 and a 200-day simple moving average of $8.70. The firm has a market capitalization of $1.51 billion, a P/E ratio of 26.00, a PEG ratio of 2.06 and a beta of 1.38. DiamondRock Hospitality has a 12-month low of $6.19 and a 12-month high of $10.00. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.66.

DiamondRock Hospitality Increases Dividend

The business also recently announced 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 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 188.24%.

Analysts Set New Price Targets

Separately, Wells Fargo & Company cut their price target on shares of DiamondRock Hospitality from $10.50 to $9.50 and set an "equal weight" rating for the company in a 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.com, the company presently has a consensus rating of "Hold" and an average price target of $10.05.

About DiamondRock Hospitality

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.