Invesco Ltd. increased its holdings in shares of DiamondRock Hospitality (NYSE:DRH - Free Report) by 3.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,651,539 shares of the real estate investment trust's stock after acquiring an additional 323,745 shares during the period. Invesco Ltd. owned about 4.17% of DiamondRock Hospitality worth $78,123,000 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 business. Smartleaf Asset Management LLC boosted its position in shares of DiamondRock Hospitality by 278.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 9,769 shares of the real estate investment trust's stock worth $89,000 after buying an additional 7,189 shares during the period. KBC Group NV increased its holdings in 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 worth $94,000 after purchasing an additional 3,744 shares in the last quarter. Xponance Inc. lifted its holdings in shares of DiamondRock Hospitality by 9.9% during the fourth quarter. Xponance Inc. now owns 15,098 shares of the real estate investment trust's stock worth $136,000 after purchasing an additional 1,360 shares during the period. Choreo LLC grew its position in shares of DiamondRock Hospitality by 55.1% in the 4th quarter. Choreo LLC now owns 15,553 shares of the real estate investment trust's stock valued at $142,000 after buying an additional 5,523 shares during the last quarter. Finally, Landscape Capital Management L.L.C. bought a new position in DiamondRock Hospitality during the fourth quarter worth $147,000.
DiamondRock Hospitality Price Performance
Shares of DRH traded up $0.15 during trading hours on Friday, reaching $6.97. 2,020,989 shares of the company's stock traded hands, compared to its average volume of 2,165,217. DiamondRock Hospitality has a 12 month low of $6.19 and a 12 month high of $10.00. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.66. The stock has a market cap of $1.45 billion, a PE ratio of 24.88, a price-to-earnings-growth ratio of 2.06 and a beta of 1.38. The firm's 50 day simple moving average is $7.80 and its 200-day simple moving average is $8.61.
DiamondRock Hospitality Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Friday, March 28th were given a $0.08 dividend. The ex-dividend date of this dividend was Friday, March 28th. This represents a $0.32 annualized dividend and a yield of 4.59%. This is an increase from DiamondRock Hospitality's previous quarterly dividend of $0.03. DiamondRock Hospitality's payout ratio is presently 188.24%.
Wall Street Analysts Forecast Growth
A number of equities analysts recently issued reports on DRH shares. Stifel Nicolaus cut their target price on DiamondRock Hospitality from $9.75 to $8.00 and set a "hold" rating on the stock in a report on Wednesday. Wells Fargo & Company lowered their price objective on DiamondRock Hospitality from $10.50 to $9.50 and set an "equal weight" rating for the company in a research note on Tuesday, February 18th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $9.60.
Read Our Latest Analysis on DRH
About DiamondRock Hospitality
(
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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