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Barclays PLC grew its stake in shares of DiamondRock Hospitality (NYSE:DRH – Free Report) by 1.2% during the 4th quarter, HoldingsChannel reports. The fund owned 372,864 shares of the real estate investment trust’s stock after acquiring an additional 4,248 shares during the period. Barclays PLC’s holdings in DiamondRock Hospitality were worth $3,366,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of DRH. Cbre Investment Management Listed Real Assets LLC purchased a new position in shares of DiamondRock Hospitality during the 4th quarter valued at $14,889,000. Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of DiamondRock Hospitality by 458.3% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,300,414 shares of the real estate investment trust’s stock valued at $11,743,000 after acquiring an additional 1,067,497 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of DiamondRock Hospitality by 18.7% during the 4th quarter. JPMorgan Chase & Co. now owns 5,716,469 shares of the real estate investment trust’s stock valued at $51,620,000 after acquiring an additional 901,600 shares in the last quarter. Centersquare Investment Management LLC grew its holdings in shares of DiamondRock Hospitality by 18.8% during the 4th quarter. Centersquare Investment Management LLC now owns 5,283,922 shares of the real estate investment trust’s stock valued at $47,714,000 after acquiring an additional 834,506 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of DiamondRock Hospitality during the 4th quarter valued at $5,839,000.
DiamondRock Hospitality Price Performance
Shares of DRH stock opened at $7.35 on Tuesday. The stock has a 50 day moving average of $7.62 and a two-hundred day moving average of $8.54. 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 has a 12 month low of $6.19 and a 12 month high of $10.00. The company has a market capitalization of $1.53 billion, a P/E ratio of 26.25, a P/E/G ratio of 2.06 and a beta of 1.38.
DiamondRock Hospitality Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Friday, March 28th were given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 4.35%. The ex-dividend date of this dividend was Friday, March 28th. This is an increase from DiamondRock Hospitality’s previous quarterly dividend of $0.03. DiamondRock Hospitality’s dividend payout ratio (DPR) is 188.24%.
Analysts Set New Price Targets
Several research firms have recently commented on DRH. Wells Fargo & Company lowered their price target on shares of DiamondRock Hospitality from $10.50 to $9.50 and set an “equal weight” rating on the stock in a report on Tuesday, February 18th. Stifel Nicolaus reduced 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. Morgan Stanley reduced their price objective on shares of DiamondRock Hospitality from $9.00 to $7.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 22nd. Finally, Evercore ISI reduced their price objective on shares of DiamondRock Hospitality from $10.00 to $9.00 and set an “in-line” rating for the company in a research note on Monday. Six investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, DiamondRock Hospitality currently has an average rating of “Hold” and a consensus price target of $8.92.
Read Our Latest Stock Analysis on DRH
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.
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