DiamondRock Hospitality (NYSE:DRH) Shares Purchased by Deutsche Bank AG

Deutsche Bank AG raised its holdings in shares of DiamondRock Hospitality (NYSE:DRH - Free Report) by 24.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 275,483 shares of the real estate investment trust's stock after purchasing an additional 54,794 shares during the quarter. Deutsche Bank AG owned 0.13% of DiamondRock Hospitality worth $2,488,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Cubist Systematic Strategies LLC purchased a new position in DiamondRock Hospitality in the 4th quarter worth about $163,000. Brevan Howard Capital Management LP bought a new position in DiamondRock Hospitality in the 4th quarter worth about $300,000. Caxton Associates LP purchased a new position in shares of DiamondRock Hospitality during the fourth quarter worth approximately $92,000. Bank of America Corp DE raised its stake in shares of DiamondRock Hospitality by 78.8% during the fourth quarter. Bank of America Corp DE now owns 6,953,022 shares of the real estate investment trust's stock valued at $62,786,000 after acquiring an additional 3,064,117 shares in the last quarter. Finally, BNP Paribas Financial Markets raised its stake in shares of DiamondRock Hospitality by 6.5% during the fourth quarter. BNP Paribas Financial Markets now owns 69,847 shares of the real estate investment trust's stock valued at $631,000 after acquiring an additional 4,272 shares in the last quarter.

Analysts Set New Price Targets

DRH has been the topic of several research analyst reports. Bank of America raised DiamondRock Hospitality from an "underperform" rating to a "buy" rating and set a $9.50 price objective on the stock in a research note on Wednesday, April 30th. Wells Fargo & Company dropped their price target on DiamondRock Hospitality from $10.50 to $9.50 and set an "equal weight" rating on the stock in a research report on Tuesday, February 18th. Evercore ISI decreased their price objective on DiamondRock Hospitality from $10.00 to $9.00 and set an "in-line" rating for the company in a report on Monday, April 28th. Morgan Stanley lowered their price objective on shares of DiamondRock Hospitality from $9.00 to $7.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 22nd. Finally, Stifel Nicolaus raised their target price on shares of DiamondRock Hospitality from $8.00 to $8.25 and gave the company a "hold" rating in a research report on Friday, May 2nd. Six analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $9.04.

DiamondRock Hospitality Stock Up 3.7%

Shares of DRH traded up $0.28 during trading hours on Tuesday, hitting $7.70. The company had a trading volume of 2,059,886 shares, compared to its average volume of 2,214,458. 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 capitalization of $1.59 billion, a PE ratio of 27.48, a price-to-earnings-growth ratio of 2.06 and a beta of 1.33. DiamondRock Hospitality has a one year low of $6.19 and a one year high of $10.00. The company's fifty day moving average price is $7.39 and its two-hundred day moving average price is $8.35.

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, beating the consensus estimate of $0.17 by $0.02. The company 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 firm's quarterly revenue was up .5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.17 earnings per share. As a group, equities analysts forecast 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. Investors of record on Friday, March 28th were paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 4.16%. The ex-dividend date was Friday, March 28th. This is a positive change from DiamondRock Hospitality's previous quarterly dividend of $0.03. DiamondRock Hospitality's payout ratio 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.