Bank of Montreal Can Sells 117,383 Shares of DiamondRock Hospitality (NYSE:DRH)

Bank of Montreal Can lowered its position in DiamondRock Hospitality (NYSE:DRH - Free Report) by 73.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 43,203 shares of the real estate investment trust's stock after selling 117,383 shares during the quarter. Bank of Montreal Can's holdings in DiamondRock Hospitality were worth $390,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of DRH. Smartleaf Asset Management LLC increased its stake in shares of DiamondRock Hospitality by 278.6% during the fourth 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 in the last quarter. KBC Group NV increased its position in shares of DiamondRock Hospitality by 55.9% during the fourth quarter. KBC Group NV now owns 10,436 shares of the real estate investment trust's stock valued at $94,000 after acquiring an additional 3,744 shares in the last quarter. Xponance Inc. increased its position in shares of DiamondRock Hospitality by 9.9% during the fourth quarter. Xponance Inc. now owns 15,098 shares of the real estate investment trust's stock valued at $136,000 after acquiring an additional 1,360 shares in the last quarter. Choreo LLC increased its position in shares of DiamondRock Hospitality by 55.1% during the fourth quarter. Choreo LLC now owns 15,553 shares of the real estate investment trust's stock valued at $142,000 after acquiring an additional 5,523 shares in the last quarter. Finally, Landscape Capital Management L.L.C. bought a new stake in shares of DiamondRock Hospitality during the fourth quarter valued at approximately $147,000.

Analysts Set New Price Targets

DRH has been the subject of several analyst reports. Evercore ISI reduced their price target on shares of DiamondRock Hospitality from $10.00 to $9.00 and set an "in-line" rating for the company in a research report on Monday. Morgan Stanley dropped their target price 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. Stifel Nicolaus dropped their target price on shares of DiamondRock Hospitality from $9.75 to $8.00 and set a "hold" rating on the stock in a report on Wednesday, April 16th. Finally, Wells Fargo & Company dropped their target price on shares of DiamondRock Hospitality from $10.50 to $9.50 and set an "equal weight" rating on the stock in a report on Tuesday, February 18th. Six research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, DiamondRock Hospitality has a consensus rating of "Hold" and a consensus price target of $8.92.

DiamondRock Hospitality Trading Up 1.9 %

NYSE:DRH traded up $0.14 during midday trading on Monday, hitting $7.35. The stock had a trading volume of 3,437,362 shares, compared to its average volume of 2,169,929. DiamondRock Hospitality has a one year low of $6.19 and a one year high of $10.00. The company has a market capitalization of $1.53 billion, a price-to-earnings ratio of 26.25, a PEG ratio of 2.06 and a beta of 1.38. The stock has a 50-day moving average of $7.62 and a 200 day moving average of $8.54. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.66.

DiamondRock Hospitality Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Friday, March 28th were paid a $0.08 dividend. The ex-dividend date of this dividend was Friday, March 28th. This represents a $0.32 annualized dividend and a yield of 4.35%. This is a boost from DiamondRock Hospitality's previous quarterly dividend of $0.03. DiamondRock Hospitality's dividend payout ratio is 188.24%.

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.