Boothbay Fund Management LLC Makes New $1.85 Million Investment in DiamondRock Hospitality (NYSE:DRH)

Boothbay Fund Management LLC acquired a new stake in DiamondRock Hospitality (NYSE:DRH - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 204,463 shares of the real estate investment trust's stock, valued at approximately $1,846,000. Boothbay Fund Management LLC owned 0.10% of DiamondRock Hospitality at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. FIL Ltd acquired a new position in DiamondRock Hospitality during the 4th quarter valued at $60,000. Smartleaf Asset Management LLC raised its stake in DiamondRock Hospitality by 278.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 9,769 shares of the real estate investment trust's stock valued at $89,000 after purchasing an additional 7,189 shares during the last quarter. KBC Group NV raised its stake in DiamondRock Hospitality by 55.9% during the 4th 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 during the last quarter. Dark Forest Capital Management LP acquired a new position in DiamondRock Hospitality during the 4th quarter valued at $117,000. Finally, Xponance Inc. raised its stake in DiamondRock Hospitality by 9.9% during the 4th quarter. Xponance Inc. now owns 15,098 shares of the real estate investment trust's stock valued at $136,000 after purchasing an additional 1,360 shares during the last quarter.

DiamondRock Hospitality Trading Up 1.9 %

Shares of DiamondRock Hospitality stock opened at $7.35 on Tuesday. The stock has a market capitalization of $1.53 billion, a P/E ratio of 26.25, a price-to-earnings-growth ratio of 2.06 and a beta of 1.38. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.66. The company has a 50-day simple moving average of $7.62 and a 200 day simple moving average of $8.54. 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 announced 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. The ex-dividend date of this dividend was Friday, March 28th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 4.35%. This is a boost from DiamondRock Hospitality's previous quarterly dividend of $0.03. DiamondRock Hospitality's dividend payout ratio (DPR) is 188.24%.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. 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. Evercore ISI dropped their price objective 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. Finally, Stifel Nicolaus dropped their price objective on shares of DiamondRock Hospitality from $9.75 to $8.00 and set a "hold" rating for the company in a research note on Wednesday, April 16th. Six investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, DiamondRock Hospitality has a consensus rating of "Hold" and an average price target of $8.92.

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.

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