Brevan Howard Capital Management LP Purchases Shares of 33,272 DiamondRock Hospitality (NYSE:DRH)

Brevan Howard Capital Management LP bought a new position in DiamondRock Hospitality (NYSE:DRH - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund 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 added to or reduced their stakes in the business. Caxton Associates LP purchased a new stake in DiamondRock Hospitality during the 4th quarter worth about $92,000. Bank of America Corp DE lifted its holdings in DiamondRock Hospitality by 78.8% in the 4th quarter. Bank of America Corp DE now owns 6,953,022 shares of the real estate investment trust's stock worth $62,786,000 after buying an additional 3,064,117 shares during the period. BNP Paribas Financial Markets lifted its holdings in DiamondRock Hospitality by 6.5% in the 4th quarter. BNP Paribas Financial Markets now owns 69,847 shares of the real estate investment trust's stock worth $631,000 after buying an additional 4,272 shares during the period. Algert Global LLC purchased a new stake in DiamondRock Hospitality in the 4th quarter worth approximately $172,000. Finally, Alyeska Investment Group L.P. lifted its stake in shares of DiamondRock Hospitality by 16.3% in the 4th 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 purchasing an additional 1,201,955 shares during the period.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on DRH shares. Stifel Nicolaus raised their price objective on DiamondRock Hospitality from $8.00 to $8.25 and gave the company a "hold" rating in a research report on Friday, May 2nd. Wells Fargo & Company lowered their target price on DiamondRock Hospitality from $10.50 to $9.50 and set an "equal weight" rating on the stock in a research report on Tuesday, February 18th. Morgan Stanley lowered their target price on DiamondRock Hospitality from $9.00 to $7.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 22nd. Evercore ISI lowered their price objective on DiamondRock Hospitality from $10.00 to $9.00 and set an "in-line" rating on the stock in a research report on Monday, April 28th. Finally, Bank of America raised DiamondRock Hospitality from an "underperform" rating to a "buy" rating and set a $9.50 target price on the stock in a report on Wednesday, April 30th. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $9.04.

DiamondRock Hospitality Price Performance

DRH traded up $0.01 during trading on Friday, reaching $7.82. The company's stock had a trading volume of 2,077,953 shares, compared to its average volume of 2,224,907. 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 firm has a fifty day simple moving average of $7.44 and a two-hundred day simple moving average of $8.41. DiamondRock Hospitality has a 1 year low of $6.19 and a 1 year high of $10.00. The company has a market cap of $1.61 billion, a price-to-earnings ratio of 27.93, a PEG ratio of 2.06 and a beta of 1.33.

DiamondRock Hospitality (NYSE:DRH - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The real estate investment trust reported $0.19 EPS for the quarter, beating the consensus estimate of $0.17 by $0.02. DiamondRock Hospitality had a net margin of 6.30% and a return on equity of 4.25%. The firm had revenue of $254.85 million for the quarter, compared to analyst estimates of $256.47 million. During the same quarter in the previous year, the company earned $0.17 EPS. The business's revenue for the quarter was up .5% compared to the same quarter last year. As a group, analysts anticipate that DiamondRock Hospitality will post 0.96 EPS for the current year.

DiamondRock Hospitality Increases Dividend

The business also recently disclosed 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 annualized dividend and a yield of 4.09%. The ex-dividend date of this dividend was Friday, March 28th. This is an increase from DiamondRock Hospitality's previous quarterly dividend of $0.03. DiamondRock Hospitality's dividend payout ratio is currently 177.78%.

DiamondRock Hospitality Company 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.