Pzena Investment Management LLC lessened its holdings in DiamondRock Hospitality (NYSE:DRH - Free Report) by 6.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,600,791 shares of the real estate investment trust's stock after selling 552,227 shares during the period. Pzena Investment Management LLC owned about 4.14% of DiamondRock Hospitality worth $77,665,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Orion Portfolio Solutions LLC raised its holdings in shares of DiamondRock Hospitality by 1.6% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 104,965 shares of the real estate investment trust's stock worth $916,000 after acquiring an additional 1,652 shares during the last quarter. Vert Asset Management LLC raised its holdings in shares of DiamondRock Hospitality by 2.1% in the 4th quarter. Vert Asset Management LLC now owns 82,570 shares of the real estate investment trust's stock worth $746,000 after acquiring an additional 1,729 shares during the last quarter. Metis Global Partners LLC increased its stake in DiamondRock Hospitality by 11.4% in the 4th quarter. Metis Global Partners LLC now owns 23,773 shares of the real estate investment trust's stock valued at $215,000 after buying an additional 2,427 shares during the last quarter. Daiwa Securities Group Inc. increased its stake in DiamondRock Hospitality by 3.9% in the 3rd quarter. Daiwa Securities Group Inc. now owns 68,728 shares of the real estate investment trust's stock valued at $600,000 after buying an additional 2,598 shares during the last quarter. Finally, Van ECK Associates Corp increased its stake in DiamondRock Hospitality by 8.4% in the 4th quarter. Van ECK Associates Corp now owns 39,187 shares of the real estate investment trust's stock valued at $354,000 after buying an additional 3,027 shares during the last quarter.
Wall Street Analysts Forecast Growth
DRH has been the subject of several analyst reports. Wells Fargo & Company decreased 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. Evercore ISI lowered shares of DiamondRock Hospitality from an "outperform" rating to an "inline" rating and set a $10.50 price objective for the company. in a research note on Friday, November 15th. Finally, Stifel Nicolaus lowered shares of DiamondRock Hospitality from a "buy" rating to a "hold" rating and decreased their price objective for the company from $10.75 to $10.25 in a research note on Friday, November 22nd. 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 has a consensus rating of "Hold" and a consensus price target of $10.05.
Get Our Latest Report on DRH
DiamondRock Hospitality Stock Performance
Shares of DiamondRock Hospitality stock traded up $0.19 on Friday, reaching $7.91. 1,389,257 shares of the company traded hands, compared to its average volume of 1,947,999. DiamondRock Hospitality has a 52 week low of $7.69 and a 52 week high of $10.00. The company has a 50 day moving average of $8.59 and a 200 day moving average of $8.86. The firm has a market capitalization of $1.64 billion, a PE ratio of 28.23, a PEG ratio of 2.06 and a beta of 1.63. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.73 and a quick ratio of 1.73.
DiamondRock Hospitality Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be issued a $0.08 dividend. The ex-dividend date is Friday, March 28th. This is an increase from DiamondRock Hospitality's previous quarterly dividend of $0.03. This represents a $0.32 annualized dividend and a yield of 4.05%. DiamondRock Hospitality's dividend payout ratio (DPR) is 188.24%.
DiamondRock Hospitality Company Profile
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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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