Point72 Asset Management L.P. Buys New Position in DiamondRock Hospitality (NYSE:DRH)

Point72 Asset Management L.P. bought a new position in shares of DiamondRock Hospitality (NYSE:DRH - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 275,600 shares of the real estate investment trust's stock, valued at approximately $2,489,000. Point72 Asset Management L.P. owned 0.13% of DiamondRock Hospitality as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. FIL Ltd acquired a new position in DiamondRock Hospitality during the fourth quarter valued at $60,000. Smartleaf Asset Management LLC raised its position in DiamondRock Hospitality by 278.6% during 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 buying an additional 7,189 shares during the period. Caxton Associates LP acquired a new position in DiamondRock Hospitality during the fourth quarter valued at $92,000. KBC Group NV raised its position in DiamondRock Hospitality by 55.9% during the fourth 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 period. Finally, Dark Forest Capital Management LP acquired a new position in DiamondRock Hospitality during the fourth quarter valued at $117,000.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Stifel Nicolaus upped their target price on DiamondRock Hospitality from $8.00 to $8.25 and gave the stock a "hold" rating in a research report on Friday, May 2nd. Morgan Stanley dropped their target price on DiamondRock Hospitality from $9.00 to $7.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 22nd. Bank of America raised DiamondRock Hospitality from an "underperform" rating to a "buy" rating and set a $9.50 target price on the stock in a research report on Wednesday, April 30th. Wells Fargo & Company dropped their target price 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. Finally, Evercore ISI dropped their target price on 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 research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $9.04.

DiamondRock Hospitality Stock Down 0.7%

Shares of NYSE DRH traded down $0.06 during mid-day trading on Friday, reaching $7.43. 1,651,564 shares of the company traded hands, compared to its average volume of 2,214,495. 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 stock has a market cap of $1.53 billion, a PE ratio of 26.52, a price-to-earnings-growth ratio of 2.06 and a beta of 1.33. The company's fifty day moving average is $7.41 and its two-hundred day moving average is $8.38. DiamondRock Hospitality has a fifty-two week low of $6.19 and a fifty-two week high of $10.00.

DiamondRock Hospitality (NYSE:DRH - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The real estate investment trust reported $0.19 EPS for the quarter, beating analysts' consensus estimates 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 firm's revenue for the quarter was up .5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.17 EPS. On average, analysts expect that DiamondRock Hospitality will post 0.96 earnings per share for the current year.

DiamondRock Hospitality Increases Dividend

The firm also recently announced 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 is an increase from DiamondRock Hospitality's previous quarterly dividend of $0.03. The ex-dividend date was Friday, March 28th. This represents a $0.32 annualized dividend and a yield of 4.31%. DiamondRock Hospitality's dividend payout ratio is presently 177.78%.

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.