Sophron Capital Management L.P. Takes $9.81 Million Position in DiamondRock Hospitality (NYSE:DRH)

Sophron Capital Management L.P. acquired a new position in DiamondRock Hospitality (NYSE:DRH - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 1,086,507 shares of the real estate investment trust's stock, valued at approximately $9,811,000. DiamondRock Hospitality makes up about 3.9% of Sophron Capital Management L.P.'s investment portfolio, making the stock its 9th largest holding. Sophron Capital Management L.P. owned about 0.52% of DiamondRock Hospitality as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in DRH. State of Wyoming bought a new stake in DiamondRock Hospitality in the 4th quarter worth about $54,000. FIL Ltd purchased a new position in DiamondRock Hospitality in the fourth quarter valued at about $60,000. Smartleaf Asset Management LLC boosted 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 valued at $89,000 after acquiring an additional 7,189 shares during the last quarter. Caxton Associates LP purchased a new position in DiamondRock Hospitality in the fourth quarter valued at about $92,000. Finally, KBC Group NV boosted its stake in DiamondRock Hospitality by 55.9% in 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 during the last quarter.

DiamondRock Hospitality Stock Performance

Shares of DRH stock traded up $0.04 during trading on Thursday, reaching $7.49. 1,630,759 shares of the company's stock traded hands, compared to its average volume of 2,225,346. The company has a market capitalization of $1.54 billion, a P/E ratio of 26.73, a PEG ratio of 2.06 and a beta of 1.33. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.66. The firm's 50-day moving average is $7.43 and its 200 day moving average is $8.39. DiamondRock Hospitality has a 1 year low of $6.19 and a 1 year high of $10.00.

DiamondRock Hospitality (NYSE:DRH - Get Free Report) last posted its earnings results on Thursday, May 1st. The real estate investment trust reported $0.19 earnings per share (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 business had revenue of $254.85 million for the quarter, compared to analysts' expectations of $256.47 million. During the same period in the prior year, the company posted $0.17 EPS. The business's revenue for the quarter was up .5% compared to the same quarter last year. Equities research analysts expect that DiamondRock Hospitality will post 0.96 EPS for the current year.

DiamondRock Hospitality Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Friday, March 28th were paid a $0.08 dividend. The ex-dividend date was Friday, March 28th. This is a boost from DiamondRock Hospitality's previous quarterly dividend of $0.03. This represents a $0.32 annualized dividend and a yield of 4.28%. DiamondRock Hospitality's dividend payout ratio is currently 177.78%.

Wall Street Analysts Forecast Growth

DRH has been the topic of a number of research analyst reports. Stifel Nicolaus boosted their target price on shares of DiamondRock Hospitality from $8.00 to $8.25 and gave the company a "hold" rating in a research note 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 on the stock in a research note on Wednesday, April 30th. 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 research note on Tuesday, February 18th. 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 research note on Tuesday, April 22nd. Finally, Evercore ISI dropped their target price on shares of DiamondRock Hospitality from $10.00 to $9.00 and set an "in-line" rating on the stock in a research note on Monday, April 28th. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $9.04.

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.