GRS Advisors LLC Invests $9.92 Million in DiamondRock Hospitality (NYSE:DRH)

GRS Advisors LLC acquired a new stake in DiamondRock Hospitality (NYSE:DRH - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 1,098,474 shares of the real estate investment trust's stock, valued at approximately $9,919,000. DiamondRock Hospitality makes up approximately 1.0% of GRS Advisors LLC's portfolio, making the stock its 27th largest holding. GRS Advisors LLC owned 0.53% of DiamondRock Hospitality at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. JPMorgan Chase & Co. grew its holdings in shares of DiamondRock Hospitality by 18.7% in 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. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in DiamondRock Hospitality by 45.2% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 138,327 shares of the real estate investment trust's stock valued at $1,249,000 after purchasing an additional 43,088 shares during the last quarter. Norges Bank acquired a new stake in DiamondRock Hospitality in the 4th quarter valued at about $5,839,000. Cbre Investment Management Listed Real Assets LLC acquired a new stake in DiamondRock Hospitality in the 4th quarter valued at about $14,889,000. Finally, Barclays PLC lifted its stake 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.

Wall Street Analysts Forecast Growth

DRH has been the subject of several recent analyst reports. Stifel Nicolaus raised their target price on shares of DiamondRock Hospitality from $8.00 to $8.25 and gave the company a "hold" rating in a research note on Friday, May 2nd. Evercore ISI cut their target price 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, April 28th. Wells Fargo & Company cut their target price on shares of DiamondRock Hospitality from $10.50 to $9.50 and set an "equal weight" rating for the company in a research note on Tuesday, February 18th. Morgan Stanley cut their target price 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, Bank of America upgraded shares of DiamondRock Hospitality from an "underperform" rating to a "buy" rating and set a $9.50 target price for the company in a research note on Wednesday, April 30th. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $9.04.

DiamondRock Hospitality Price Performance

NYSE:DRH traded down $0.04 during mid-day trading on Thursday, reaching $7.82. The stock had a trading volume of 65,716 shares, compared to its average volume of 2,219,383. The stock has a 50-day simple moving average of $7.45 and a two-hundred day simple moving average of $8.43. The stock has a market capitalization of $1.61 billion, a PE ratio of 27.83, a P/E/G ratio of 2.06 and a beta of 1.33. DiamondRock Hospitality has a 12 month low of $6.19 and a 12 month high of $10.00. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.73 and a quick ratio of 1.73.

DiamondRock Hospitality (NYSE:DRH - Get Free Report) last released its earnings results on Thursday, May 1st. The real estate investment trust reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.02. The business had revenue of $254.85 million for the quarter, compared to analyst estimates of $256.47 million. DiamondRock Hospitality had a net margin of 6.30% and a return on equity of 4.25%. DiamondRock Hospitality's revenue for the quarter was up .5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.17 earnings per share. On average, equities analysts anticipate that DiamondRock Hospitality will post 0.96 earnings per share for the current year.

DiamondRock Hospitality Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Friday, March 28th were issued a dividend of $0.08 per share. The ex-dividend date was Friday, March 28th. This represents a $0.32 annualized dividend and a dividend yield of 4.09%. This is a positive change from DiamondRock Hospitality's previous quarterly dividend of $0.03. DiamondRock Hospitality's dividend payout ratio is currently 177.78%.

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.