Victory Capital Management Inc. reduced its holdings in DiamondRock Hospitality (NYSE:DRH - Free Report) by 16.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,208,697 shares of the real estate investment trust's stock after selling 434,090 shares during the period. Victory Capital Management Inc. owned about 1.06% of DiamondRock Hospitality worth $19,945,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also made changes to their positions in DRH. State Street Corp grew its stake 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 valued at $109,806,000 after acquiring an additional 221,219 shares during the period. Pzena Investment Management LLC lifted its holdings in DiamondRock Hospitality by 3.6% during the third quarter. Pzena Investment Management LLC now owns 9,153,018 shares of the real estate investment trust's stock valued at $79,906,000 after purchasing an additional 317,901 shares in the last quarter. Rush Island Management LP acquired a new stake in shares of DiamondRock Hospitality in the third quarter valued at about $51,726,000. Geode Capital Management LLC increased its stake in shares of 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 in the last quarter. Finally, Wellington Management Group LLP raised its position in shares of 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 worth $42,996,000 after purchasing an additional 663,529 shares during the last quarter.
Wall Street Analysts Forecast Growth
DRH has been the topic of several research analyst reports. StockNews.com upgraded DiamondRock Hospitality from a "sell" rating to a "hold" rating in a report on Tuesday, November 12th. Stifel Nicolaus cut DiamondRock Hospitality from a "buy" rating to a "hold" rating and dropped their price target for the stock from $10.75 to $10.25 in a research report on Friday, November 22nd. Wells Fargo & Company decreased their price objective on DiamondRock Hospitality from $10.50 to $9.50 and set an "equal weight" rating on the stock in a report on Tuesday, February 18th. Finally, Evercore ISI lowered shares of DiamondRock Hospitality from an "outperform" rating to an "inline" rating and set a $10.50 target price for the company. in a report on Friday, November 15th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $10.05.
Check Out Our Latest Analysis on DRH
DiamondRock Hospitality Stock Performance
Shares of DiamondRock Hospitality stock opened at $7.91 on Wednesday. The business's fifty day simple moving average is $8.64 and its 200-day simple moving average is $8.87. 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 firm has a market cap of $1.64 billion, a PE ratio of 28.23, a price-to-earnings-growth ratio of 2.06 and a beta of 1.63. DiamondRock Hospitality has a 52 week low of $7.74 and a 52 week high of $10.00.
DiamondRock Hospitality Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 4.05%. The ex-dividend date of this dividend is Friday, March 28th. This is a positive change from DiamondRock Hospitality's previous quarterly dividend of $0.03. DiamondRock Hospitality's dividend payout ratio (DPR) is 188.24%.
DiamondRock Hospitality Company Profile
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Free Report)
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.
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