DiamondRock Hospitality (NYSE:DRH) Shares Acquired by Man Group plc

Man Group plc boosted its position in DiamondRock Hospitality (NYSE:DRH - Free Report) by 256.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 178,566 shares of the real estate investment trust's stock after purchasing an additional 128,411 shares during the period. Man Group plc owned about 0.09% of DiamondRock Hospitality worth $1,612,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. FIL Ltd purchased a new position in DiamondRock Hospitality in the 4th quarter valued at approximately $60,000. Smartleaf Asset Management LLC grew its holdings in DiamondRock Hospitality by 278.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 9,769 shares of the real estate investment trust's stock valued at $89,000 after buying an additional 7,189 shares during the last quarter. Caxton Associates LP acquired a new stake in DiamondRock Hospitality during the 4th quarter valued at $92,000. KBC Group NV grew its holdings in 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. Finally, Dark Forest Capital Management LP acquired a new stake in DiamondRock Hospitality during the 4th quarter valued at $117,000.

Analyst Ratings Changes

DRH has been the topic of a number of analyst reports. Stifel Nicolaus increased their target price on DiamondRock Hospitality from $8.00 to $8.25 and gave the company a "hold" rating in a report on Friday, May 2nd. Wells Fargo & Company lowered their target price on DiamondRock Hospitality from $10.50 to $9.50 and set an "equal weight" rating on the stock in a report on Tuesday, February 18th. Bank of America upgraded DiamondRock Hospitality from an "underperform" rating to a "buy" rating and set a $9.50 target price on the stock in a report on Wednesday, April 30th. Morgan Stanley lowered their target price on DiamondRock Hospitality from $9.00 to $7.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 22nd. Finally, Evercore ISI lowered their target price on DiamondRock Hospitality from $10.00 to $9.00 and set an "in-line" rating on the stock in a 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 company. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $9.04.

DiamondRock Hospitality Trading Down 0.7%

Shares of DRH traded down $0.06 during trading hours on Wednesday, hitting $7.64. The stock had a trading volume of 913,087 shares, compared to its average volume of 2,454,771. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.73 and a current ratio of 1.73. The firm has a market cap of $1.58 billion, a P/E ratio of 27.30, a P/E/G ratio of 2.06 and a beta of 1.33. The company's fifty day simple moving average is $7.39 and its 200 day simple moving average is $8.35. DiamondRock Hospitality has a 12-month low of $6.18 and a 12-month high of $10.00.

DiamondRock Hospitality (NYSE:DRH - Get Free Report) last issued its earnings results on Thursday, May 1st. The real estate investment trust reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.02. The business had revenue of $254.85 million for the quarter, compared to analyst estimates of $256.47 million. DiamondRock Hospitality had a return on equity of 4.25% and a net margin of 6.30%. The business's quarterly revenue was up .5% on a year-over-year basis. During the same period last year, the company posted $0.17 EPS. Equities research analysts forecast that DiamondRock Hospitality will post 0.96 EPS for the current fiscal year.

DiamondRock Hospitality Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Friday, March 28th were given a $0.08 dividend. The ex-dividend date was Friday, March 28th. 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 4.19%. DiamondRock Hospitality's dividend payout ratio (DPR) is 177.78%.

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.