Van Lanschot Kempen Investment Management N.V. Lowers Stock Position in DiamondRock Hospitality (NYSE:DRH)

Van Lanschot Kempen Investment Management N.V. cut its stake in shares of DiamondRock Hospitality (NYSE:DRH - Free Report) by 81.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 288,612 shares of the real estate investment trust's stock after selling 1,282,673 shares during the period. Van Lanschot Kempen Investment Management N.V. owned approximately 0.14% of DiamondRock Hospitality worth $2,606,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Barclays PLC increased its holdings in DiamondRock Hospitality by 37.6% in the 3rd quarter. Barclays PLC now owns 368,616 shares of the real estate investment trust's stock valued at $3,219,000 after purchasing an additional 100,805 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of DiamondRock Hospitality by 0.5% in the third 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 in the last quarter. KBC Group NV raised its holdings 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 buying an additional 3,744 shares during the period. Vert Asset Management LLC boosted its holdings in DiamondRock Hospitality by 2.1% during the 4th quarter. Vert Asset Management LLC now owns 82,570 shares of the real estate investment trust's stock valued at $746,000 after acquiring an additional 1,729 shares during the period. Finally, abrdn plc grew its position in DiamondRock Hospitality by 53.5% in the 4th quarter. abrdn plc now owns 69,071 shares of the real estate investment trust's stock valued at $633,000 after acquiring an additional 24,070 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on DRH shares. Stifel Nicolaus lowered their price objective on shares of DiamondRock Hospitality from $9.75 to $8.00 and set a "hold" rating for the company in a research note on Wednesday, April 16th. 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 analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $9.60.

DiamondRock Hospitality Trading Down 0.3 %

Shares of NYSE:DRH opened at $6.95 on Tuesday. DiamondRock Hospitality has a 52 week low of $6.19 and a 52 week high of $10.00. The company's 50 day moving average is $7.77 and its two-hundred day moving average is $8.59. The company has a market cap of $1.45 billion, a PE ratio of 24.82, a P/E/G ratio of 2.06 and a beta of 1.38. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.66.

DiamondRock Hospitality Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Friday, March 28th were issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 4.60%. This is an increase from DiamondRock Hospitality's previous quarterly dividend of $0.03. The ex-dividend date was Friday, March 28th. DiamondRock Hospitality's payout ratio is 188.24%.

About DiamondRock Hospitality

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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