216,646 Shares in DiamondRock Hospitality (NYSE:DRH) Purchased by HGI Capital Management LLC

HGI Capital Management LLC acquired a new stake in DiamondRock Hospitality (NYSE:DRH - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 216,646 shares of the real estate investment trust's stock, valued at approximately $1,956,000. DiamondRock Hospitality comprises about 2.0% of HGI Capital Management LLC's portfolio, making the stock its 14th largest position. HGI Capital Management LLC owned 0.10% of DiamondRock Hospitality at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. FIL Ltd acquired a new stake in DiamondRock Hospitality in the 4th quarter valued at approximately $60,000. Smartleaf Asset Management LLC raised 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 in the last quarter. KBC Group NV increased its position in shares of DiamondRock Hospitality by 55.9% in 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 during the last quarter. Xponance Inc. increased its holdings in DiamondRock Hospitality by 9.9% in the fourth quarter. Xponance Inc. now owns 15,098 shares of the real estate investment trust's stock valued at $136,000 after buying an additional 1,360 shares during the last quarter. Finally, Choreo LLC raised its position in shares of DiamondRock Hospitality by 55.1% during the 4th quarter. Choreo LLC now owns 15,553 shares of the real estate investment trust's stock worth $142,000 after acquiring an additional 5,523 shares in the last quarter.

DiamondRock Hospitality Price Performance

NYSE DRH traded up $0.16 during mid-day trading on Wednesday, hitting $7.16. The stock had a trading volume of 1,155,787 shares, compared to its average volume of 2,163,815. 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 $1.49 billion, a price-to-earnings ratio of 25.57, a P/E/G ratio of 2.06 and a beta of 1.38. DiamondRock Hospitality has a 52-week low of $6.19 and a 52-week high of $10.00. The company has a 50 day simple moving average of $7.73 and a 200 day simple moving average of $8.58.

DiamondRock Hospitality Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Friday, March 28th were given a dividend of $0.08 per share. This is an increase from DiamondRock Hospitality's previous quarterly dividend of $0.03. The ex-dividend date of this dividend was Friday, March 28th. This represents a $0.32 annualized dividend and a yield of 4.47%. DiamondRock Hospitality's dividend payout ratio (DPR) is presently 188.24%.

Analyst Ratings Changes

DRH has been the subject of several research analyst reports. Wells Fargo & Company decreased their price objective on DiamondRock Hospitality from $10.50 to $9.50 and set an "equal weight" rating for the company in a report on Tuesday, February 18th. Morgan Stanley lowered their price objective on shares of DiamondRock Hospitality from $9.00 to $7.00 and set an "equal weight" rating on the stock in a research report on Tuesday. Finally, Stifel Nicolaus reduced their target price on shares of DiamondRock Hospitality from $9.75 to $8.00 and set a "hold" rating for the company in a report on Wednesday, April 16th. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, DiamondRock Hospitality has an average rating of "Hold" and an average price target of $9.17.

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.