Legal & General Group Plc Sells 112,398 Shares of DiamondRock Hospitality (NYSE:DRH)

Legal & General Group Plc reduced its stake in DiamondRock Hospitality (NYSE:DRH - Free Report) by 8.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,297,094 shares of the real estate investment trust's stock after selling 112,398 shares during the period. Legal & General Group Plc owned approximately 0.62% of DiamondRock Hospitality worth $11,713,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. Smartleaf Asset Management LLC lifted its position in shares of DiamondRock Hospitality by 278.6% during the 4th 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 raised its stake in DiamondRock Hospitality by 55.9% in the fourth 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 position in 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 stake 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, Landscape Capital Management L.L.C. bought a new position in DiamondRock Hospitality in the 4th quarter valued at about $147,000.

DiamondRock Hospitality Price Performance

Shares of NYSE DRH traded up $0.04 during mid-day trading on Tuesday, hitting $7.00. 2,669,282 shares of the stock traded hands, compared to its average volume of 2,167,753. The company has a market cap of $1.46 billion, a PE ratio of 25.00, a price-to-earnings-growth ratio of 2.06 and a beta of 1.38. DiamondRock Hospitality has a twelve month low of $6.19 and a twelve month high of $10.00. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.73 and a quick ratio of 1.73. The firm has a 50 day simple moving average of $7.73 and a two-hundred day simple moving average of $8.58.

DiamondRock Hospitality Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Friday, March 28th were issued a dividend of $0.08 per share. This is a boost from DiamondRock Hospitality's previous quarterly dividend of $0.03. This represents a $0.32 annualized dividend and a dividend yield of 4.57%. The ex-dividend date of this dividend was Friday, March 28th. DiamondRock Hospitality's payout ratio is 188.24%.

Analysts Set New Price Targets

DRH has been the subject of a number of recent analyst reports. Morgan Stanley cut their price target on shares of DiamondRock Hospitality from $9.00 to $7.00 and set an "equal weight" rating for the company in a report on Tuesday. Stifel Nicolaus reduced 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, April 16th. Finally, Wells Fargo & Company lowered their price target 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. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus 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.