Systematic Financial Management LP Acquires 81,939 Shares of DiamondRock Hospitality (NYSE:DRH)

Systematic Financial Management LP grew its stake in shares of DiamondRock Hospitality (NYSE:DRH - Free Report) by 5.1% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor 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 0.81% of DiamondRock Hospitality worth $15,185,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Bank of America Corp DE raised its position in DiamondRock Hospitality by 78.8% in the 4th quarter. Bank of America Corp DE now owns 6,953,022 shares of the real estate investment trust's stock worth $62,786,000 after purchasing an additional 3,064,117 shares during the period. Cbre Investment Management Listed Real Assets LLC purchased a new position in shares of DiamondRock Hospitality in the fourth quarter worth about $14,889,000. Alyeska Investment Group L.P. increased its holdings in shares of DiamondRock Hospitality by 16.3% in the fourth quarter. Alyeska Investment Group L.P. now owns 8,576,077 shares of the real estate investment trust's stock worth $77,442,000 after buying an additional 1,201,955 shares during the period. Lasalle Investment Management Securities LLC bought a new stake in shares of DiamondRock Hospitality in the 4th quarter valued at about $9,982,000. Finally, GRS Advisors LLC purchased a new stake in DiamondRock Hospitality during the 4th quarter valued at about $9,919,000.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Morgan Stanley reduced their price target 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. Stifel Nicolaus raised their target price on shares of DiamondRock Hospitality from $8.00 to $8.25 and gave the stock a "hold" rating in a report on Friday, May 2nd. Bank of America upgraded shares of DiamondRock Hospitality from an "underperform" rating to a "buy" rating and set a $9.50 price target for the company in a report on Wednesday, April 30th. Wells Fargo & Company dropped their price target on shares of 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. Finally, Evercore ISI cut their price target on shares of 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 equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $9.04.

DiamondRock Hospitality Trading Down 2.0%

NYSE:DRH traded down $0.15 during trading hours on Wednesday, hitting $7.47. The company had a trading volume of 3,915,687 shares, compared to its average volume of 2,228,898. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.73 and a quick ratio of 1.73. The stock has a 50-day moving average price of $7.44 and a 200 day moving average price of $8.40. The company has a market capitalization of $1.54 billion, a PE ratio of 26.67, a price-to-earnings-growth ratio of 2.06 and a beta of 1.33. DiamondRock Hospitality has a 52 week low of $6.19 and a 52 week high of $10.00.

DiamondRock Hospitality (NYSE:DRH - Get Free Report) last posted its 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 firm had revenue of $254.85 million during the quarter, compared to analysts' expectations of $256.47 million. DiamondRock Hospitality had a net margin of 6.30% and a return on equity of 4.25%. The company's quarterly revenue was up .5% compared to the same quarter last year. During the same period last year, the company posted $0.17 EPS. On average, equities research analysts predict that DiamondRock Hospitality will post 0.96 EPS for the current fiscal year.

DiamondRock Hospitality Increases Dividend

The firm also recently announced 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 represents a $0.32 dividend on an annualized basis and a dividend yield of 4.29%. The ex-dividend date of this dividend was Friday, March 28th. This is a boost from DiamondRock Hospitality's previous quarterly dividend of $0.03. DiamondRock Hospitality's payout ratio is 177.78%.

DiamondRock Hospitality 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.