Voya Investment Management LLC Reduces Stake in DiamondRock Hospitality (NYSE:DRH)

Voya Investment Management LLC lessened its position in DiamondRock Hospitality (NYSE:DRH - Free Report) by 9.3% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 629,062 shares of the real estate investment trust's stock after selling 64,468 shares during the period. Voya Investment Management LLC owned approximately 0.30% of DiamondRock Hospitality worth $5,680,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of DRH. FIL Ltd bought a new stake in DiamondRock Hospitality in the 4th quarter worth approximately $60,000. Smartleaf Asset Management LLC lifted its stake in DiamondRock Hospitality by 278.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 9,769 shares of the real estate investment trust's stock worth $89,000 after purchasing an additional 7,189 shares during the last quarter. KBC Group NV boosted its position in 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 buying an additional 3,744 shares during the period. Dark Forest Capital Management LP purchased a new position in shares of DiamondRock Hospitality in the fourth quarter worth about $117,000. Finally, Xponance Inc. increased its holdings in shares of DiamondRock Hospitality by 9.9% in the fourth quarter. Xponance Inc. now owns 15,098 shares of the real estate investment trust's stock worth $136,000 after buying an additional 1,360 shares during the period.

DiamondRock Hospitality Stock Performance

DiamondRock Hospitality stock traded down $0.17 during mid-day trading on Tuesday, reaching $7.43. 304,183 shares of the company traded hands, compared to its average volume of 2,187,395. The company has a market capitalization of $1.55 billion, a price-to-earnings ratio of 26.59, a price-to-earnings-growth ratio of 2.06 and a beta of 1.38. DiamondRock Hospitality has a fifty-two week low of $6.19 and a fifty-two week high of $10.00. The firm's fifty day moving average is $7.53 and its two-hundred day moving average is $8.48. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.73 and a quick ratio of 1.73.

DiamondRock Hospitality (NYSE:DRH - Get Free Report) last released its quarterly earnings data 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 return on equity of 4.25% and a net margin of 6.30%. The business had revenue of $254.85 million for the quarter, compared to analyst estimates of $256.47 million. During the same quarter in the prior year, the firm posted $0.17 EPS. The business's quarterly revenue was up .5% compared to the same quarter last year. On average, equities research analysts expect that DiamondRock Hospitality will post 0.96 earnings per share for the current fiscal year.

DiamondRock Hospitality Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Friday, March 28th were paid a dividend of $0.08 per share. 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 4.31%. The ex-dividend date of this dividend was Friday, March 28th. DiamondRock Hospitality's payout ratio is 188.24%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on DRH. Stifel Nicolaus increased their target price on shares of DiamondRock Hospitality from $8.00 to $8.25 and gave the stock a "hold" rating in a report on Friday. Morgan Stanley decreased their price target on shares of DiamondRock Hospitality from $9.00 to $7.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 22nd. Wells Fargo & Company cut their price target on DiamondRock Hospitality from $10.50 to $9.50 and set an "equal weight" rating for the company in a report on Tuesday, February 18th. Evercore ISI cut 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 report on Monday, April 28th. Finally, Bank of America raised 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 note on Wednesday, April 30th. Six equities research 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 an average target price of $9.04.

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.