Sophron Capital Management L.P. Purchases Shares of 1,086,507 DiamondRock Hospitality (NYSE:DRH)

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

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Two Sigma Advisers LP grew its stake in DiamondRock Hospitality by 214.4% during the fourth quarter. Two Sigma Advisers LP now owns 48,100 shares of the real estate investment trust's stock worth $434,000 after buying an additional 32,800 shares in the last quarter. State of Wyoming acquired a new stake in DiamondRock Hospitality during the fourth quarter worth about $54,000. Systematic Financial Management LP grew its stake in DiamondRock Hospitality by 5.1% during the fourth quarter. Systematic Financial Management LP now owns 1,681,669 shares of the real estate investment trust's stock worth $15,185,000 after buying an additional 81,939 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in DiamondRock Hospitality during the fourth quarter worth about $131,000. Finally, Point72 Asset Management L.P. acquired a new position in shares of DiamondRock Hospitality during the 4th quarter worth $2,489,000.

DiamondRock Hospitality Price Performance

DiamondRock Hospitality stock traded down $0.06 during mid-day trading on Friday, reaching $7.43. The company had a trading volume of 1,651,564 shares, compared to its average volume of 2,214,495. DiamondRock Hospitality has a fifty-two week low of $6.19 and a fifty-two week high of $10.00. 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 company has a market cap of $1.53 billion, a P/E ratio of 26.52, a P/E/G ratio of 2.06 and a beta of 1.33. The business has a fifty day simple moving average of $7.41 and a 200 day simple moving average of $8.38.

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 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.02. The company had revenue of $254.85 million during the quarter, compared to the consensus estimate of $256.47 million. DiamondRock Hospitality had a return on equity of 4.25% and a net margin of 6.30%. The firm's revenue was up .5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.17 earnings per share. On average, equities research analysts predict that DiamondRock Hospitality will post 0.96 earnings per share for the current year.

DiamondRock Hospitality Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Friday, March 28th were given a dividend of $0.08 per share. 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 dividend yield of 4.31%. DiamondRock Hospitality's dividend payout ratio is 177.78%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on DRH shares. Bank of America raised DiamondRock Hospitality from an "underperform" rating to a "buy" rating and set a $9.50 price target for the company in a report on Wednesday, April 30th. Stifel Nicolaus raised their price target 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. Wells Fargo & Company reduced 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. Morgan Stanley reduced 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. Finally, Evercore ISI cut 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 report on Monday, April 28th. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target 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.