201,108 Shares in DiamondRock Hospitality (NYSE:DRH) Bought by Raymond James Financial Inc.

Raymond James Financial Inc. purchased a new position in shares of DiamondRock Hospitality (NYSE:DRH - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 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 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC lifted its stake in 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 worth $89,000 after acquiring an additional 7,189 shares in the last quarter. KBC Group NV lifted its position in shares of DiamondRock Hospitality by 55.9% during the fourth quarter. KBC Group NV now owns 10,436 shares of the real estate investment trust's stock worth $94,000 after purchasing an additional 3,744 shares in the last quarter. Choreo LLC boosted its stake in shares of DiamondRock Hospitality by 55.1% in the fourth quarter. Choreo LLC now owns 15,553 shares of the real estate investment trust's stock valued at $142,000 after purchasing an additional 5,523 shares during the period. Metis Global Partners LLC boosted its stake in shares of DiamondRock Hospitality by 11.4% in the fourth quarter. Metis Global Partners LLC now owns 23,773 shares of the real estate investment trust's stock valued at $215,000 after purchasing an additional 2,427 shares during the period. Finally, Y Intercept Hong Kong Ltd acquired a new position in shares of DiamondRock Hospitality in the fourth quarter valued at approximately $220,000.

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DiamondRock Hospitality Stock Up 2.3 %

Shares of DRH stock traded up $0.18 on Wednesday, reaching $7.89. 2,614,272 shares of the stock were exchanged, compared to its average volume of 2,101,244. DiamondRock Hospitality has a twelve month low of $7.54 and a twelve month high of $10.00. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $1.64 billion, a price-to-earnings ratio of 28.18, a PEG ratio of 2.06 and a beta of 1.63. The business's 50 day moving average price is $8.33 and its 200 day moving average price is $8.80.

DiamondRock Hospitality Increases Dividend

The firm 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 $0.08 dividend. The ex-dividend date of this dividend is Friday, March 28th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 4.06%. This is an increase from DiamondRock Hospitality's previous quarterly dividend of $0.03. DiamondRock Hospitality's dividend payout ratio is presently 188.24%.

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 research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, DiamondRock Hospitality currently has an average rating of "Hold" and a consensus price target of $10.05.

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.