Mitsubishi UFJ Trust & Banking Corp acquired a new stake in DiamondRock Hospitality (NYSE:DRH - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 41,091 shares of the real estate investment trust's stock, valued at approximately $371,000.
A number of other hedge funds and other institutional investors have also bought and sold shares of the business. BNP Paribas Financial Markets raised its stake in shares of DiamondRock Hospitality by 46.0% during the third quarter. BNP Paribas Financial Markets now owns 65,575 shares of the real estate investment trust's stock valued at $572,000 after acquiring an additional 20,660 shares in the last quarter. Glenmede Trust Co. NA raised its position in DiamondRock Hospitality by 100.0% during the 3rd quarter. Glenmede Trust Co. NA now owns 67,677 shares of the real estate investment trust's stock valued at $591,000 after purchasing an additional 33,835 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of DiamondRock Hospitality by 326.6% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,235,728 shares of the real estate investment trust's stock worth $10,788,000 after buying an additional 946,073 shares during the period. Verition Fund Management LLC grew its position in shares of DiamondRock Hospitality by 108.6% during the 3rd quarter. Verition Fund Management LLC now owns 215,986 shares of the real estate investment trust's stock worth $1,886,000 after buying an additional 112,463 shares in the last quarter. Finally, Holocene Advisors LP bought a new position in shares of DiamondRock Hospitality during the 3rd quarter worth $568,000.
DiamondRock Hospitality Stock Down 3.9 %
Shares of DRH traded down $0.28 during trading hours on Monday, hitting $6.72. The company had a trading volume of 4,738,954 shares, compared to its average volume of 2,142,479. DiamondRock Hospitality has a one year low of $6.44 and a one year high of $10.00. The company's fifty day moving average price is $8.19 and its two-hundred day moving average price is $8.76. The company has a market capitalization of $1.40 billion, a PE ratio of 23.98, a price-to-earnings-growth ratio of 2.06 and a beta of 1.38. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.66.
DiamondRock Hospitality Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 4.77%. This is a positive change from DiamondRock Hospitality's previous quarterly dividend of $0.03. The ex-dividend date is Friday, March 28th. DiamondRock Hospitality's dividend payout ratio is presently 188.24%.
Analysts Set New Price Targets
Separately, Wells Fargo & Company lowered their price objective on shares of 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 assigned a buy rating to the stock. According to data from MarketBeat, DiamondRock Hospitality currently has a consensus rating of "Hold" and a consensus price target of $10.05.
Get 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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