DiamondRock Hospitality (NYSE:DRH) Shares Acquired by Systematic Financial Management LP

Systematic Financial Management LP increased its stake in DiamondRock Hospitality (NYSE:DRH - Free Report) by 5.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,681,669 shares of the real estate investment trust's stock after buying an additional 81,939 shares during the quarter. Systematic Financial Management LP owned approximately 0.81% of DiamondRock Hospitality worth $15,185,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Barclays PLC grew its position in DiamondRock Hospitality by 37.6% during the 3rd quarter. Barclays PLC now owns 368,616 shares of the real estate investment trust's stock worth $3,219,000 after acquiring an additional 100,805 shares during the last quarter. KBC Group NV boosted its stake in DiamondRock Hospitality by 55.9% in the fourth quarter. KBC Group NV now owns 10,436 shares of the real estate investment trust's stock valued at $94,000 after acquiring an additional 3,744 shares during the last quarter. Vert Asset Management LLC lifted its stake in DiamondRock Hospitality by 2.1% in the fourth quarter. Vert Asset Management LLC now owns 82,570 shares of the real estate investment trust's stock valued at $746,000 after purchasing an additional 1,729 shares during the last quarter. abrdn plc raised its stake in shares of DiamondRock Hospitality by 53.5% in the fourth quarter. abrdn plc now owns 69,071 shares of the real estate investment trust's stock valued at $633,000 after buying an additional 24,070 shares during the period. Finally, Choreo LLC grew its position in shares of DiamondRock Hospitality by 55.1% during the 4th quarter. Choreo LLC now owns 15,553 shares of the real estate investment trust's stock valued at $142,000 after purchasing an additional 5,523 shares in the last quarter.

Analysts Set New Price Targets

A number of research firms have weighed in on DRH. Stifel Nicolaus upped their target price on DiamondRock Hospitality from $8.00 to $8.25 and gave the stock a "hold" rating in a report on Friday, May 2nd. Evercore ISI lowered their price objective 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. Bank of America raised shares of DiamondRock Hospitality from an "underperform" rating to a "buy" rating and set a $9.50 price target for the company in a research report on Wednesday, April 30th. Morgan Stanley dropped their target price on shares of DiamondRock Hospitality from $9.00 to $7.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 22nd. Finally, Wells Fargo & Company lowered their target price on DiamondRock Hospitality from $10.50 to $9.50 and set an "equal weight" rating for the company in a research report on Tuesday, February 18th. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, DiamondRock Hospitality presently has an average rating of "Hold" and an average target price of $9.04.

DiamondRock Hospitality Stock Performance

DRH stock traded down $0.07 during midday trading on Friday, hitting $7.42. 392,660 shares of the stock traded hands, compared to its average volume of 2,218,243. The firm has a market cap of $1.53 billion, a P/E ratio of 26.45, a PEG ratio of 2.06 and a beta of 1.33. DiamondRock Hospitality has a 1-year low of $6.19 and a 1-year high of $10.00. The stock's fifty day simple moving average is $7.42 and its 200-day simple moving average is $8.38. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.73 and a quick ratio of 1.73.

DiamondRock Hospitality (NYSE:DRH - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The real estate investment trust reported $0.19 EPS for the quarter, topping the consensus estimate of $0.17 by $0.02. The company had revenue of $254.85 million during the quarter, compared to analyst estimates of $256.47 million. DiamondRock Hospitality had a net margin of 6.30% and a return on equity of 4.25%. The firm's revenue was up .5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $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 business also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Friday, March 28th were issued a $0.08 dividend. 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 4.32%. The ex-dividend date was Friday, March 28th. DiamondRock Hospitality's payout ratio is 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.