Dimensional Fund Advisors LP Sells 64,058 Shares of DiamondRock Hospitality (NYSE:DRH)

Dimensional Fund Advisors LP lowered its stake in DiamondRock Hospitality (NYSE:DRH - Free Report) by 2.1% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 2,971,465 shares of the real estate investment trust's stock after selling 64,058 shares during the period. Dimensional Fund Advisors LP owned 1.43% of DiamondRock Hospitality worth $26,833,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Barclays PLC grew its position in shares of DiamondRock Hospitality by 37.6% during the 3rd quarter. Barclays PLC now owns 368,616 shares of the real estate investment trust's stock valued at $3,219,000 after buying an additional 100,805 shares during the last quarter. KBC Group NV grew its position in shares of 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 buying an additional 3,744 shares during the last quarter. Vert Asset Management LLC grew its position in shares of DiamondRock Hospitality by 2.1% during the 4th quarter. Vert Asset Management LLC now owns 82,570 shares of the real estate investment trust's stock valued at $746,000 after buying an additional 1,729 shares during the last quarter. abrdn plc grew its position in shares of DiamondRock Hospitality by 53.5% during the 4th quarter. abrdn plc now owns 69,071 shares of the real estate investment trust's stock valued at $633,000 after buying an additional 24,070 shares during the last quarter. Finally, Choreo LLC grew its position in shares of DiamondRock Hospitality by 55.1% during the 4th quarter. Choreo LLC now owns 15,553 shares of the real estate investment trust's stock valued at $142,000 after buying an additional 5,523 shares during the last quarter.

Wall Street Analyst Weigh In

Several research analysts have commented on DRH shares. Stifel Nicolaus upped their target price on shares of DiamondRock Hospitality from $8.00 to $8.25 and gave the stock a "hold" rating in a research report on Friday, May 2nd. Bank of America upgraded shares of DiamondRock Hospitality from an "underperform" rating to a "buy" rating and set a $9.50 target price for the company in a research report on Wednesday, April 30th. Evercore ISI decreased 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 report on Monday, April 28th. Wells Fargo & Company decreased 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 report on Tuesday, February 18th. Finally, Morgan Stanley decreased 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 report on Tuesday, April 22nd. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, DiamondRock Hospitality has a consensus rating of "Hold" and a consensus price target of $9.04.

DiamondRock Hospitality Stock Up 5.3%

Shares of DiamondRock Hospitality stock traded up $0.40 during midday trading on Monday, reaching $7.98. 298,617 shares of the company's stock traded hands, compared to its average volume of 2,211,045. The company has a market cap of $1.65 billion, a price-to-earnings ratio of 28.63, a price-to-earnings-growth ratio of 2.06 and a beta of 1.33. The company's 50 day simple moving average is $7.48 and its 200 day simple moving average is $8.44. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.73 and a current ratio of 1.73. DiamondRock Hospitality has a 52 week low of $6.19 and a 52 week high of $10.00.

DiamondRock Hospitality (NYSE:DRH - Get Free Report) last announced its earnings results on Thursday, May 1st. The real estate investment trust reported $0.19 EPS for the quarter, topping 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 the consensus estimate of $256.47 million. During the same quarter last year, the firm posted $0.17 EPS. The business's quarterly revenue was up .5% on a year-over-year basis. Equities analysts expect that DiamondRock Hospitality will post 0.96 earnings per share for the current fiscal year.

DiamondRock Hospitality Increases Dividend

The firm also recently announced 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 was Friday, March 28th. This represents a $0.32 dividend on an annualized basis and a yield of 4.01%. This is a boost from DiamondRock Hospitality's previous quarterly dividend of $0.03. DiamondRock Hospitality's 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.