Alyeska Investment Group L.P. Raises Stock Holdings in DiamondRock Hospitality (NYSE:DRH)

Alyeska Investment Group L.P. grew its holdings in DiamondRock Hospitality (NYSE:DRH - Free Report) by 16.3% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,576,077 shares of the real estate investment trust's stock after buying an additional 1,201,955 shares during the period. 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 large investors have also recently made changes to their positions in the company. Barclays PLC raised its stake in shares of DiamondRock Hospitality by 37.6% in 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 during the last quarter. KBC Group NV grew its holdings in shares of DiamondRock Hospitality by 55.9% in the fourth quarter. KBC Group NV now owns 10,436 shares of the real estate investment trust's stock valued at $94,000 after purchasing an additional 3,744 shares in the last quarter. Vert Asset Management LLC raised its holdings in DiamondRock Hospitality by 2.1% in the fourth quarter. Vert Asset Management LLC now owns 82,570 shares of the real estate investment trust's stock valued at $746,000 after acquiring an additional 1,729 shares in the last quarter. abrdn plc boosted its stake in DiamondRock Hospitality by 53.5% in the fourth quarter. abrdn plc now owns 69,071 shares of the real estate investment trust's stock valued at $633,000 after acquiring an additional 24,070 shares in the last quarter. Finally, Choreo LLC increased its holdings in shares of DiamondRock Hospitality by 55.1% in the 4th quarter. Choreo LLC now owns 15,553 shares of the real estate investment trust's stock valued at $142,000 after acquiring an additional 5,523 shares during the period.

DiamondRock Hospitality Stock Up 2.3 %

NYSE:DRH traded up $0.17 on Thursday, hitting $7.57. The stock had a trading volume of 1,296,673 shares, compared to its average volume of 2,471,059. The business's fifty day moving average is $7.50 and its 200 day moving average is $8.47. The company has a market cap of $1.58 billion, a PE ratio of 27.04, a P/E/G ratio of 2.06 and a beta of 1.33. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.66. DiamondRock Hospitality has a 52 week low of $6.18 and a 52 week high of $10.00.

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

DiamondRock Hospitality Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Friday, March 28th were paid a dividend of $0.08 per share. This is a boost from DiamondRock Hospitality's previous quarterly dividend of $0.03. The ex-dividend date was Friday, March 28th. This represents a $0.32 dividend on an annualized basis and a yield of 4.23%. DiamondRock Hospitality's dividend payout ratio (DPR) is presently 177.78%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. 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 note on Wednesday, April 30th. Stifel Nicolaus raised their target price on DiamondRock Hospitality from $8.00 to $8.25 and gave the company a "hold" rating in a research report on Friday, May 2nd. Morgan Stanley cut their target price on DiamondRock Hospitality from $9.00 to $7.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 22nd. Wells Fargo & Company dropped their price objective on shares of DiamondRock Hospitality from $10.50 to $9.50 and set an "equal weight" rating on the stock in a research note on Tuesday, February 18th. Finally, Evercore ISI decreased their target price on 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. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $9.04.

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.