DiamondRock Hospitality (NYSE:DRH) Shares Bought by Alyeska Investment Group L.P.

Alyeska Investment Group L.P. raised its holdings in DiamondRock Hospitality (NYSE:DRH - Free Report) by 16.3% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 8,576,077 shares of the real estate investment trust's stock after acquiring an additional 1,201,955 shares during the quarter. Alyeska Investment Group L.P. owned approximately 4.13% of DiamondRock Hospitality worth $77,442,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Xponance Inc. raised its stake in DiamondRock Hospitality by 9.9% in the fourth quarter. Xponance Inc. now owns 15,098 shares of the real estate investment trust's stock worth $136,000 after buying an additional 1,360 shares in the last quarter. Ancora Advisors LLC increased its holdings in shares of DiamondRock Hospitality by 0.9% in the 4th quarter. Ancora Advisors LLC now owns 164,150 shares of the real estate investment trust's stock valued at $1,482,000 after acquiring an additional 1,490 shares during the period. Vert Asset Management LLC raised its position in shares of DiamondRock Hospitality by 2.1% in the 4th quarter. Vert Asset Management LLC now owns 82,570 shares of the real estate investment trust's stock worth $746,000 after acquiring an additional 1,729 shares in the last quarter. Metis Global Partners LLC lifted its stake in shares of DiamondRock Hospitality by 11.4% during the 4th quarter. Metis Global Partners LLC now owns 23,773 shares of the real estate investment trust's stock worth $215,000 after purchasing an additional 2,427 shares during the last quarter. Finally, Van ECK Associates Corp lifted its stake in shares of DiamondRock Hospitality by 8.4% during the 4th quarter. Van ECK Associates Corp now owns 39,187 shares of the real estate investment trust's stock worth $354,000 after purchasing an additional 3,027 shares during the last quarter.

DiamondRock Hospitality Stock Performance

Shares of NYSE DRH traded down $0.02 during midday trading on Monday, reaching $7.61. The company had a trading volume of 2,694,998 shares, compared to its average volume of 2,194,682. DiamondRock Hospitality has a 1 year low of $6.19 and a 1 year high of $10.00. The business's 50-day simple moving average is $7.53 and its 200 day simple moving average is $8.48. 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 stock has a market cap of $1.59 billion, a P/E ratio of 27.16, a P/E/G ratio of 2.06 and a beta of 1.38.

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

DiamondRock Hospitality Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Friday, March 28th were given a $0.08 dividend. The ex-dividend date was Friday, March 28th. This represents a $0.32 dividend on an annualized basis and a yield of 4.21%. This is a positive change from DiamondRock Hospitality's previous quarterly dividend of $0.03. DiamondRock Hospitality's dividend payout ratio is currently 188.24%.

Analysts Set New Price Targets

DRH has been the subject of a number of recent research reports. Wells Fargo & Company reduced 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 report on Tuesday, February 18th. 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. 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. Bank of America raised DiamondRock Hospitality from an "underperform" rating to a "buy" rating and set a $9.50 price target on the stock in a research report on Wednesday, April 30th. Finally, Evercore ISI decreased their price objective on DiamondRock Hospitality from $10.00 to $9.00 and set an "in-line" rating for the company in a report on Monday, April 28th. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, DiamondRock Hospitality currently has an average rating of "Hold" and an average price target of $9.04.

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.