Sumitomo Mitsui Trust Group Inc. boosted its holdings in shares of DiamondRock Hospitality (NYSE:DRH - Free Report) by 458.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,300,414 shares of the real estate investment trust's stock after buying an additional 1,067,497 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 0.63% of DiamondRock Hospitality worth $11,743,000 as of its most recent SEC filing.
Other institutional investors have also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. boosted its stake in DiamondRock Hospitality by 35.1% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,153 shares of the real estate investment trust's stock worth $73,000 after buying an additional 2,116 shares in the last quarter. Harbor Capital Advisors Inc. acquired a new stake in DiamondRock Hospitality during the third quarter worth $74,000. KBC Group NV boosted its stake in shares of DiamondRock Hospitality by 55.9% in the 4th quarter. KBC Group NV now owns 10,436 shares of the real estate investment trust's stock valued at $94,000 after purchasing an additional 3,744 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of DiamondRock Hospitality in the 3rd quarter valued at $100,000. Finally, GSA Capital Partners LLP bought a new position in shares of DiamondRock Hospitality in the third quarter valued at about $126,000.
DiamondRock Hospitality Stock Performance
DRH traded up $0.05 during trading hours on Friday, reaching $8.59. The company's stock had a trading volume of 1,144,423 shares, compared to its average volume of 1,435,823. DiamondRock Hospitality has a 52 week low of $7.74 and a 52 week high of $10.00. The company's 50-day moving average is $9.02 and its 200-day moving average is $8.85. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.73 and a current ratio of 1.73. The firm has a market cap of $1.78 billion, a PE ratio of 30.66, a price-to-earnings-growth ratio of 4.88 and a beta of 1.57.
DiamondRock Hospitality Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Tuesday, January 14th. Stockholders of record on Tuesday, December 31st were issued a dividend of $0.32 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $1.28 dividend on an annualized basis and a dividend yield of 14.91%. This is an increase from DiamondRock Hospitality's previous quarterly dividend of $0.03. DiamondRock Hospitality's dividend payout ratio (DPR) is currently 42.86%.
Wall Street Analysts Forecast Growth
A number of research analysts recently issued reports on DRH shares. Evercore ISI cut DiamondRock Hospitality from an "outperform" rating to an "inline" rating and set a $10.50 price target for the company. in a report on Friday, November 15th. StockNews.com raised DiamondRock Hospitality from a "sell" rating to a "hold" rating in a report on Tuesday, November 12th. Stifel Nicolaus cut DiamondRock Hospitality from a "buy" rating to a "hold" rating and dropped their price objective for the stock from $10.75 to $10.25 in a report on Friday, November 22nd. Finally, Wells Fargo & Company upped their price objective on DiamondRock Hospitality from $10.00 to $10.50 and gave the stock an "equal weight" rating in a research note on Monday, December 9th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat, DiamondRock Hospitality presently has an average rating of "Hold" and an average price target of $10.25.
View Our Latest Analysis on DiamondRock Hospitality
DiamondRock Hospitality Company 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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