1,105,375 Shares in DiamondRock Hospitality (NYSE:DRH) Purchased by Lasalle Investment Management Securities LLC

Lasalle Investment Management Securities LLC purchased a new stake in DiamondRock Hospitality (NYSE:DRH - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 1,105,375 shares of the real estate investment trust's stock, valued at approximately $9,982,000. Lasalle Investment Management Securities LLC owned about 0.53% of DiamondRock Hospitality as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. FIL Ltd acquired a new stake in DiamondRock Hospitality in the 4th quarter worth approximately $60,000. Smartleaf Asset Management LLC lifted its stake in shares of DiamondRock Hospitality by 278.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 9,769 shares of the real estate investment trust's stock worth $89,000 after buying an additional 7,189 shares during the period. KBC Group NV grew its holdings in shares of DiamondRock Hospitality by 55.9% during the fourth 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 last quarter. Xponance Inc. increased its position in shares of DiamondRock Hospitality by 9.9% in the 4th quarter. Xponance Inc. now owns 15,098 shares of the real estate investment trust's stock valued at $136,000 after acquiring an additional 1,360 shares during the period. Finally, Choreo LLC raised its stake in DiamondRock Hospitality by 55.1% in the 4th quarter. Choreo LLC now owns 15,553 shares of the real estate investment trust's stock worth $142,000 after acquiring an additional 5,523 shares during the last quarter.

DiamondRock Hospitality Stock Performance

DiamondRock Hospitality stock traded up $0.08 during mid-day trading on Friday, hitting $7.20. The company had a trading volume of 690,017 shares, compared to its average volume of 2,155,493. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $1.50 billion, a price-to-earnings ratio of 25.70, a P/E/G ratio of 2.06 and a beta of 1.38. The company's fifty day moving average is $7.67 and its 200-day moving average is $8.56. DiamondRock Hospitality has a 12-month low of $6.19 and a 12-month high of $10.00.

DiamondRock Hospitality Increases Dividend

The company also recently declared 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 yield of 4.45%. The ex-dividend date was Friday, March 28th. This is a positive change from DiamondRock Hospitality's previous quarterly dividend of $0.03. DiamondRock Hospitality's dividend payout ratio (DPR) is currently 188.24%.

Analyst Ratings Changes

Several analysts have weighed in on the company. Stifel Nicolaus dropped their price target on DiamondRock Hospitality from $9.75 to $8.00 and set a "hold" rating on the stock in a research note on Wednesday, April 16th. Wells Fargo & Company cut 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. Finally, Morgan Stanley decreased 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. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $9.17.

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.