DiamondRock Hospitality (NYSE:DRH) Stake Boosted by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership increased its stake in DiamondRock Hospitality (NYSE:DRH - Free Report) by 21.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 879,852 shares of the real estate investment trust's stock after buying an additional 156,043 shares during the quarter. Arrowstreet Capital Limited Partnership owned about 0.42% of DiamondRock Hospitality worth $7,945,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of DRH. BNP Paribas Financial Markets grew its position in DiamondRock Hospitality by 46.0% in the third quarter. BNP Paribas Financial Markets now owns 65,575 shares of the real estate investment trust's stock valued at $572,000 after acquiring an additional 20,660 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in DiamondRock Hospitality by 326.6% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,235,728 shares of the real estate investment trust's stock valued at $10,788,000 after purchasing an additional 946,073 shares in the last quarter. Holocene Advisors LP purchased a new stake in DiamondRock Hospitality during the 3rd quarter worth $568,000. State Street Corp lifted its holdings in DiamondRock Hospitality by 1.8% in the 3rd quarter. State Street Corp now owns 12,535,384 shares of the real estate investment trust's stock worth $109,806,000 after buying an additional 221,219 shares in the last quarter. Finally, Wellington Management Group LLP boosted its position in DiamondRock Hospitality by 15.6% in the 3rd quarter. Wellington Management Group LLP now owns 4,925,093 shares of the real estate investment trust's stock valued at $42,996,000 after buying an additional 663,529 shares during the last quarter.

Analyst Ratings Changes

Separately, Wells Fargo & Company cut their price target on 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. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $10.05.

DiamondRock Hospitality Stock Up 2.8 %

DRH stock traded up $0.20 during mid-day trading on Friday, hitting $7.10. 2,484,913 shares of the company were exchanged, compared to its average volume of 2,183,472. The company has a market capitalization of $1.48 billion, a PE ratio of 25.34, a price-to-earnings-growth ratio of 2.06 and a beta of 1.38. The firm has a fifty day simple moving average of $7.97 and a 200 day simple moving average of $8.68. 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 twelve month low of $6.19 and a twelve month high of $10.00.

DiamondRock Hospitality Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 4.51%. This is an increase from DiamondRock Hospitality's previous quarterly dividend of $0.03. The ex-dividend date is Friday, March 28th. DiamondRock Hospitality's dividend payout ratio (DPR) is 188.24%.

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.