Man Group plc Buys 128,411 Shares of DiamondRock Hospitality (NYSE:DRH)

Man Group plc lifted its position in shares of DiamondRock Hospitality (NYSE:DRH - Free Report) by 256.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 178,566 shares of the real estate investment trust's stock after buying 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.

A number of other large investors also recently modified their holdings of the company. Nissay Asset Management Corp Japan ADV raised its holdings in shares of DiamondRock Hospitality by 4.0% during the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 31,738 shares of the real estate investment trust's stock valued at $292,000 after buying an additional 1,216 shares in the last quarter. Xponance Inc. raised its holdings in shares of DiamondRock Hospitality by 9.9% during the 4th quarter. Xponance Inc. now owns 15,098 shares of the real estate investment trust's stock valued at $136,000 after buying an additional 1,360 shares in the last quarter. Ancora Advisors LLC raised its holdings in shares of DiamondRock Hospitality by 0.9% during the 4th quarter. Ancora Advisors LLC now owns 164,150 shares of the real estate investment trust's stock valued at $1,482,000 after buying an additional 1,490 shares in the last quarter. Vert Asset Management LLC raised its holdings 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 in the last quarter. Finally, Metis Global Partners LLC raised its holdings in shares of DiamondRock Hospitality by 11.4% during the 4th quarter. Metis Global Partners LLC now owns 23,773 shares of the real estate investment trust's stock valued at $215,000 after buying an additional 2,427 shares in the last quarter.

DiamondRock Hospitality Stock Up 3.7%

Shares of NYSE DRH traded up $0.28 during mid-day trading on Tuesday, hitting $7.70. 2,059,886 shares of the stock traded hands, compared to its average volume of 2,214,458. 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. The company has a market cap of $1.59 billion, a price-to-earnings ratio of 27.48, a PEG ratio of 2.06 and a beta of 1.33. The stock has a fifty day moving average price of $7.39 and a 200-day moving average price of $8.35.

DiamondRock Hospitality (NYSE:DRH - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The real estate investment trust reported $0.19 earnings per share for the quarter, beating 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 company had revenue of $254.85 million for the quarter, compared to analyst estimates of $256.47 million. During the same period in the previous year, the company posted $0.17 earnings per share. The firm's revenue was up .5% on a year-over-year basis. Research analysts anticipate that DiamondRock Hospitality will post 0.96 EPS for the current year.

DiamondRock Hospitality Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Friday, March 28th were issued a dividend of $0.08 per share. This is an increase from DiamondRock Hospitality's previous quarterly dividend of $0.03. This represents a $0.32 dividend on an annualized basis and a dividend yield of 4.16%. The ex-dividend date of this dividend was Friday, March 28th. DiamondRock Hospitality's dividend payout ratio is presently 177.78%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the company. Morgan Stanley decreased their price objective 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. Bank of America raised DiamondRock Hospitality from an "underperform" rating to a "buy" rating and set a $9.50 price target on the stock in a research note on Wednesday, April 30th. Evercore ISI decreased their price target on 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. Stifel Nicolaus lifted their price target on DiamondRock Hospitality from $8.00 to $8.25 and gave the stock a "hold" rating in a research note on Friday, May 2nd. Finally, Wells Fargo & Company decreased their price target on 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. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target 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.