Raymond James Financial Inc. Buys New Holdings in DiamondRock Hospitality (NYSE:DRH)

Raymond James Financial Inc. acquired a new stake in DiamondRock Hospitality (NYSE:DRH - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 201,108 shares of the real estate investment trust's stock, valued at approximately $1,816,000. Raymond James Financial Inc. owned approximately 0.10% of DiamondRock Hospitality at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the business. Wellington Management Group LLP raised its holdings in shares of 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 purchasing an additional 663,529 shares in the last quarter. Jane Street Group LLC lifted its holdings in 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 during the period. Geode Capital Management LLC boosted its position in DiamondRock Hospitality by 0.5% during 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 acquiring an additional 28,391 shares in the last quarter. Cbre Investment Management Listed Real Assets LLC purchased a new position in shares of DiamondRock Hospitality in the 4th quarter valued at $14,889,000. Finally, Barclays PLC lifted its stake in shares of DiamondRock Hospitality by 37.6% during the 3rd quarter. Barclays PLC now owns 368,616 shares of the real estate investment trust's stock worth $3,219,000 after purchasing an additional 100,805 shares during the last quarter.

Wall Street Analysts Forecast Growth

Separately, Wells Fargo & Company decreased their price target on shares of DiamondRock Hospitality from $10.50 to $9.50 and set an "equal weight" rating for the company in a research report on Tuesday, February 18th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $10.05.

DiamondRock Hospitality Stock Down 3.1 %

NYSE:DRH traded down $0.23 during mid-day trading on Friday, hitting $7.01. 4,661,529 shares of the company's stock traded hands, compared to its average volume of 2,132,093. The company has a fifty day moving average of $8.24 and a 200 day moving average of $8.78. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.73 and a current ratio of 1.73. DiamondRock Hospitality has a twelve month low of $6.85 and a twelve month high of $10.00. The company has a market capitalization of $1.46 billion, a P/E ratio of 25.02, a P/E/G ratio of 2.06 and a beta of 1.63.

DiamondRock Hospitality Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be issued a dividend of $0.08 per share. The ex-dividend date is Friday, March 28th. This is a positive change from DiamondRock Hospitality's previous quarterly dividend of $0.03. This represents a $0.32 dividend on an annualized basis and a dividend yield of 4.57%. DiamondRock Hospitality's payout ratio is 188.24%.

DiamondRock Hospitality Company 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.