Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of DiamondRock Hospitality (NYSE:DRH - Free Report) by 45.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 138,327 shares of the real estate investment trust's stock after buying an additional 43,088 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned about 0.07% of DiamondRock Hospitality worth $1,249,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Wellington Management Group LLP lifted its position in shares of DiamondRock Hospitality by 15.6% during the third quarter. Wellington Management Group LLP now owns 4,925,093 shares of the real estate investment trust's stock worth $42,996,000 after purchasing an additional 663,529 shares in the last quarter. Jane Street Group LLC lifted its position 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 purchasing an additional 127,717 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of DiamondRock Hospitality by 0.5% during the third quarter. Geode Capital Management LLC now owns 5,350,283 shares of the real estate investment trust's stock worth $46,716,000 after purchasing an additional 28,391 shares in the last quarter. Cbre Investment Management Listed Real Assets LLC acquired a new position in shares of DiamondRock Hospitality during the fourth quarter worth $14,889,000. Finally, Barclays PLC lifted its position in shares of DiamondRock Hospitality by 37.6% during the third 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 in the last quarter.
DiamondRock Hospitality Stock Down 1.1 %
Shares of NYSE:DRH traded down $0.09 during midday trading on Friday, reaching $7.90. The company had a trading volume of 5,130,684 shares, compared to its average volume of 1,963,762. 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 stock's fifty day moving average price is $8.49 and its 200-day moving average price is $8.83. The stock has a market capitalization of $1.64 billion, a P/E ratio of 28.20, a PEG ratio of 2.06 and a beta of 1.63. DiamondRock Hospitality has a one year low of $7.65 and a one year high of $10.00.
DiamondRock Hospitality Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 4.05%. The ex-dividend date of this dividend is Friday, March 28th. This is a positive change from DiamondRock Hospitality's previous quarterly dividend of $0.03. DiamondRock Hospitality's payout ratio is 188.24%.
Analyst Ratings Changes
Separately, Wells Fargo & Company reduced their target price 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 investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $10.05.
Read Our Latest Research Report on DRH
DiamondRock Hospitality Company Profile
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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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