Intech Investment Management LLC Buys 55,086 Shares of DiamondRock Hospitality (NYSE:DRH)

Intech Investment Management LLC boosted its position in DiamondRock Hospitality (NYSE:DRH - Free Report) by 199.2% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 82,739 shares of the real estate investment trust's stock after purchasing an additional 55,086 shares during the quarter. Intech Investment Management LLC's holdings in DiamondRock Hospitality were worth $722,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Pzena Investment Management LLC grew its stake in shares of DiamondRock Hospitality by 3.6% in the third quarter. Pzena Investment Management LLC now owns 9,153,018 shares of the real estate investment trust's stock worth $79,906,000 after purchasing an additional 317,901 shares in the last quarter. Dimensional Fund Advisors LP grew its position in DiamondRock Hospitality by 4.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,102,363 shares of the real estate investment trust's stock valued at $26,214,000 after buying an additional 120,228 shares in the last quarter. Victory Capital Management Inc. increased its stake in DiamondRock Hospitality by 0.9% during the 3rd quarter. Victory Capital Management Inc. now owns 2,642,787 shares of the real estate investment trust's stock valued at $23,072,000 after buying an additional 24,249 shares during the period. Bank of New York Mellon Corp raised its position in shares of DiamondRock Hospitality by 1.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,081,031 shares of the real estate investment trust's stock worth $17,585,000 after buying an additional 25,154 shares in the last quarter. Finally, Millennium Management LLC acquired a new stake in shares of DiamondRock Hospitality in the 2nd quarter worth approximately $15,118,000.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on DRH. Wells Fargo & Company cut their price objective on DiamondRock Hospitality from $9.50 to $9.00 and set an "equal weight" rating for the company in a report on Friday, September 13th. Compass Point upgraded shares of DiamondRock Hospitality from a "neutral" rating to a "buy" rating and set a $10.00 price objective for the company in a research report on Monday, August 5th. StockNews.com raised shares of DiamondRock Hospitality from a "sell" rating to a "hold" rating in a research note on Tuesday, November 12th. Stifel Nicolaus lowered shares of DiamondRock Hospitality from a "buy" rating to a "hold" rating and cut their target price for the company from $10.75 to $10.25 in a research note on Friday, November 22nd. Finally, Truist Financial decreased their price target on shares of DiamondRock Hospitality from $11.00 to $10.00 and set a "hold" rating on the stock in a research report on Wednesday, September 4th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $10.13.

DiamondRock Hospitality Stock Up 0.9 %

Shares of DiamondRock Hospitality stock traded up $0.08 on Friday, hitting $9.28. 987,489 shares of the company traded hands, compared to its average volume of 1,862,193. DiamondRock Hospitality has a 12-month low of $7.74 and a 12-month high of $9.99. 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 $1.93 billion, a PE ratio of 33.14, a PEG ratio of 5.36 and a beta of 1.60. The company has a 50-day moving average price of $8.97 and a 200 day moving average price of $8.58.

DiamondRock Hospitality Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Monday, September 30th were given a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 1.29%. The ex-dividend date was Monday, September 30th. DiamondRock Hospitality's payout ratio is presently 42.86%.

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.