33,272 Shares in DiamondRock Hospitality (NYSE:DRH) Acquired by Brevan Howard Capital Management LP

Brevan Howard Capital Management LP bought a new stake in DiamondRock Hospitality (NYSE:DRH - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 33,272 shares of the real estate investment trust's stock, valued at approximately $300,000.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Bank of America Corp DE grew its stake in shares of DiamondRock Hospitality by 78.8% during the fourth quarter. Bank of America Corp DE now owns 6,953,022 shares of the real estate investment trust's stock valued at $62,786,000 after acquiring an additional 3,064,117 shares in the last quarter. Cbre Investment Management Listed Real Assets LLC bought a new position in shares of DiamondRock Hospitality during the fourth quarter worth about $14,889,000. Alyeska Investment Group L.P. raised its stake in DiamondRock Hospitality by 16.3% during the fourth quarter. Alyeska Investment Group L.P. now owns 8,576,077 shares of the real estate investment trust's stock valued at $77,442,000 after buying an additional 1,201,955 shares in the last quarter. Lasalle Investment Management Securities LLC acquired a new position in shares of DiamondRock Hospitality in the 4th quarter worth approximately $9,982,000. Finally, Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of DiamondRock Hospitality by 458.3% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,300,414 shares of the real estate investment trust's stock worth $11,743,000 after purchasing an additional 1,067,497 shares during the period.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Evercore ISI decreased their target price on DiamondRock Hospitality from $10.00 to $9.00 and set an "in-line" rating on the stock in a report on Monday, April 28th. Wells Fargo & Company decreased their target price on 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. Stifel Nicolaus lifted their price target on DiamondRock Hospitality from $8.00 to $8.25 and gave the stock a "hold" rating in a research report on Friday, May 2nd. 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. Finally, Bank of America upgraded shares of 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. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, DiamondRock Hospitality presently has an average rating of "Hold" and a consensus price target of $9.04.

DiamondRock Hospitality Stock Down 0.4%

NYSE DRH traded down $0.04 on Friday, hitting $7.78. 654,744 shares of the company were exchanged, compared to its average volume of 2,216,545. The stock has a fifty day moving average of $7.44 and a 200-day moving average of $8.42. DiamondRock Hospitality has a 12 month low of $6.19 and a 12 month high of $10.00. The company has a market cap of $1.60 billion, a PE ratio of 27.80, a PEG ratio of 2.06 and a beta of 1.33. 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 (NYSE:DRH - Get Free Report) last issued its quarterly earnings data 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. DiamondRock Hospitality had a return on equity of 4.25% and a net margin of 6.30%. The company had revenue of $254.85 million for the quarter, compared to the consensus estimate of $256.47 million. During the same quarter last year, the business posted $0.17 earnings per share. The firm's revenue was up .5% compared to the same quarter last year. As a group, analysts forecast that DiamondRock Hospitality will post 0.96 earnings per share for the current year.

DiamondRock Hospitality Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Friday, March 28th were paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 4.12%. 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 is presently 177.78%.

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.