H 2 Credit Manager LP Purchases 1,000,000 Shares of DiamondRock Hospitality (NYSE:DRH)

H 2 Credit Manager LP grew its holdings in DiamondRock Hospitality (NYSE:DRH - Free Report) by 36.5% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,741,445 shares of the real estate investment trust's stock after buying an additional 1,000,000 shares during the quarter. DiamondRock Hospitality accounts for approximately 8.6% of H 2 Credit Manager LP's holdings, making the stock its 6th biggest holding. H 2 Credit Manager LP owned 1.80% of DiamondRock Hospitality worth $33,785,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Invesco Ltd. boosted its stake in shares of DiamondRock Hospitality by 3.9% in the 4th quarter. Invesco Ltd. now owns 8,651,539 shares of the real estate investment trust's stock valued at $78,123,000 after purchasing an additional 323,745 shares in the last quarter. JPMorgan Chase & Co. grew its stake in DiamondRock Hospitality by 18.7% during the fourth quarter. JPMorgan Chase & Co. now owns 5,716,469 shares of the real estate investment trust's stock worth $51,620,000 after buying an additional 901,600 shares during the last quarter. Centersquare Investment Management LLC grew its stake in DiamondRock Hospitality by 18.8% during the fourth quarter. Centersquare Investment Management LLC now owns 5,283,922 shares of the real estate investment trust's stock worth $47,714,000 after buying an additional 834,506 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of DiamondRock Hospitality by 1.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,557,580 shares of the real estate investment trust's stock valued at $41,155,000 after acquiring an additional 81,916 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in shares of DiamondRock Hospitality by 7.7% in the 4th quarter. Bank of New York Mellon Corp now owns 1,924,700 shares of the real estate investment trust's stock worth $17,380,000 after acquiring an additional 137,200 shares in the last quarter.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on DRH shares. Stifel Nicolaus lifted 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. Morgan Stanley decreased their price objective on shares of DiamondRock Hospitality from $9.00 to $7.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 22nd. Evercore ISI dropped their target price 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. Wells Fargo & Company decreased their price target 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, Bank of America upgraded shares of DiamondRock Hospitality from an "underperform" rating to a "buy" rating and set a $9.50 price objective for the company in a research report on Wednesday. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $9.04.

DiamondRock Hospitality Trading Up 2.6 %

NYSE:DRH traded up $0.20 during mid-day trading on Friday, hitting $7.60. The company had a trading volume of 2,451,094 shares, compared to its average volume of 2,193,373. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.73 and a current ratio of 1.73. The firm has a market cap of $1.59 billion, a P/E ratio of 27.13, a P/E/G ratio of 2.06 and a beta of 1.38. The business's fifty day moving average is $7.56 and its two-hundred day moving average is $8.51. DiamondRock Hospitality has a fifty-two week low of $6.19 and a fifty-two week high of $10.00.

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, beating analysts' consensus estimates of $0.17 by $0.02. The firm had revenue of $254.85 million during the quarter, compared to analysts' expectations of $256.47 million. DiamondRock Hospitality had a net margin of 6.30% and a return on equity of 4.25%. The business's revenue for the quarter was up .5% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.17 earnings per share. As a group, research analysts expect that DiamondRock Hospitality will post 0.96 earnings per share for the current year.

DiamondRock Hospitality Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Friday, March 28th were issued a dividend of $0.08 per share. The ex-dividend date of this dividend was Friday, March 28th. This is a positive change from DiamondRock Hospitality's previous quarterly dividend of $0.03. This represents a $0.32 annualized dividend and a yield of 4.21%. DiamondRock Hospitality's payout ratio is currently 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.