Fox Run Management L.L.C. Acquires Shares of 43,739 DiamondRock Hospitality (NYSE:DRH)

Fox Run Management L.L.C. bought a new position in DiamondRock Hospitality (NYSE:DRH - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 43,739 shares of the real estate investment trust's stock, valued at approximately $395,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of DRH. Smartleaf Asset Management LLC lifted its holdings in DiamondRock Hospitality by 278.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 9,769 shares of the real estate investment trust's stock valued at $89,000 after acquiring an additional 7,189 shares during the period. KBC Group NV increased its holdings in shares of DiamondRock Hospitality by 55.9% during the 4th quarter. KBC Group NV now owns 10,436 shares of the real estate investment trust's stock valued at $94,000 after purchasing an additional 3,744 shares in the last quarter. Xponance Inc. lifted its stake in shares of DiamondRock Hospitality by 9.9% in the 4th 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 period. Choreo LLC boosted its holdings in DiamondRock Hospitality by 55.1% during the fourth quarter. Choreo LLC now owns 15,553 shares of the real estate investment trust's stock worth $142,000 after buying an additional 5,523 shares in the last quarter. Finally, Cibc World Markets Corp acquired a new stake in DiamondRock Hospitality during the fourth quarter valued at $175,000.

Analysts Set New Price Targets

Separately, Wells Fargo & Company lowered their target price 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 research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $10.05.

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DiamondRock Hospitality Price Performance

Shares of NYSE:DRH traded down $0.15 during midday trading on Friday, reaching $7.64. 2,505,258 shares of the company's stock traded hands, compared to its average volume of 2,086,738. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.73 and a current ratio of 1.73. The company has a market cap of $1.59 billion, a P/E ratio of 27.30, a PEG ratio of 2.06 and a beta of 1.63. DiamondRock Hospitality has a 1 year low of $7.54 and a 1 year high of $10.00. The company has a fifty day simple moving average of $8.38 and a two-hundred day simple moving average of $8.81.

DiamondRock Hospitality Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be given a $0.08 dividend. The ex-dividend date is Friday, March 28th. This is a positive change from DiamondRock Hospitality's previous quarterly dividend of $0.03. This represents a $0.32 dividend on an annualized basis and a dividend yield of 4.19%. DiamondRock Hospitality's dividend payout ratio is 188.24%.

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.