Quantbot Technologies LP grew its position in DiamondRock Hospitality (NYSE:DRH - Free Report) by 173.1% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 189,977 shares of the real estate investment trust's stock after buying an additional 120,423 shares during the period. Quantbot Technologies LP owned approximately 0.09% of DiamondRock Hospitality worth $1,715,000 at the end of the most recent quarter.
A number of other large investors have also made changes to their positions in the company. Wellington Management Group LLP lifted its position in DiamondRock Hospitality by 15.6% in the 3rd quarter. Wellington Management Group LLP now owns 4,925,093 shares of the real estate investment trust's stock valued at $42,996,000 after acquiring an additional 663,529 shares in the last quarter. Jane Street Group LLC grew its holdings in shares of DiamondRock Hospitality by 73.0% during the third quarter. Jane Street Group LLC now owns 302,757 shares of the real estate investment trust's stock worth $2,643,000 after buying an additional 127,717 shares in the last quarter. Geode Capital Management LLC raised its position in DiamondRock Hospitality by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 5,350,283 shares of the real estate investment trust's stock valued at $46,716,000 after buying an additional 28,391 shares during the last quarter. Cbre Investment Management Listed Real Assets LLC bought a new stake in DiamondRock Hospitality in the 4th quarter valued at approximately $14,889,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in DiamondRock Hospitality by 45.2% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 138,327 shares of the real estate investment trust's stock worth $1,249,000 after acquiring an additional 43,088 shares during the last quarter.
DiamondRock Hospitality Stock Performance
NYSE DRH traded down $0.15 on Friday, hitting $7.64. 2,505,258 shares of the stock were exchanged, compared to its average volume of 2,086,738. The company has a market capitalization of $1.59 billion, a PE ratio of 27.30, a P/E/G 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. The business's fifty day moving average is $8.41 and its 200 day moving average is $8.81. DiamondRock Hospitality has a 52 week low of $7.55 and a 52 week high of $10.00.
DiamondRock Hospitality Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be paid a dividend of $0.08 per share. This is an increase from DiamondRock Hospitality's previous quarterly dividend of $0.03. This represents a $0.32 annualized dividend and a dividend yield of 4.19%. The ex-dividend date is Friday, March 28th. DiamondRock Hospitality's payout ratio is currently 188.24%.
Wall Street Analysts Forecast Growth
Separately, Wells Fargo & Company cut their price objective on shares of DiamondRock Hospitality from $10.50 to $9.50 and set an "equal weight" rating on the stock in a research report on Tuesday, February 18th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, DiamondRock Hospitality currently has a consensus rating of "Hold" and a consensus price target of $10.05.
Read Our Latest Report on DiamondRock Hospitality
DiamondRock Hospitality Profile
(
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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