First Trust Advisors LP Increases Holdings in DiamondRock Hospitality (NYSE:DRH)

First Trust Advisors LP increased its stake in DiamondRock Hospitality (NYSE:DRH - Free Report) by 112.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 428,053 shares of the real estate investment trust's stock after buying an additional 226,821 shares during the quarter. First Trust Advisors LP owned approximately 0.21% of DiamondRock Hospitality worth $3,865,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Barclays PLC boosted its holdings in shares of DiamondRock Hospitality by 37.6% during the third 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 period. KBC Group NV boosted its position in shares of 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 period. Vert Asset Management LLC grew its stake in shares of 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 acquiring an additional 1,729 shares in the last quarter. abrdn plc increased its position in DiamondRock Hospitality by 53.5% during the fourth quarter. abrdn plc now owns 69,071 shares of the real estate investment trust's stock worth $633,000 after acquiring an additional 24,070 shares during the period. Finally, Choreo LLC raised its stake in DiamondRock Hospitality by 55.1% in the 4th quarter. Choreo LLC now owns 15,553 shares of the real estate investment trust's stock worth $142,000 after purchasing an additional 5,523 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Evercore ISI dropped their price target on shares of DiamondRock Hospitality from $10.00 to $9.00 and set an "in-line" rating for the company in a research report on Monday, April 28th. Morgan Stanley dropped their price target on 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. Wells Fargo & Company reduced their price objective on shares of 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. Stifel Nicolaus upped their price target 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. Finally, Bank of America raised shares of 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. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat.com, DiamondRock Hospitality presently has an average rating of "Hold" and an average target price of $9.04.

DiamondRock Hospitality Trading Up 0.7 %

DRH stock traded up $0.05 during trading on Thursday, hitting $7.45. The company had a trading volume of 307,244 shares, compared to its average volume of 2,198,536. The stock has a market cap of $1.56 billion, a PE ratio of 26.61, a PEG ratio of 2.06 and a beta of 1.33. The business has a 50-day moving average of $7.50 and a 200-day moving average of $8.47. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.66. DiamondRock Hospitality has a one year low of $6.19 and a one year high of $10.00.

DiamondRock Hospitality (NYSE:DRH - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The real estate investment trust reported $0.19 earnings per share 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 analysts' expectations of $256.47 million. DiamondRock Hospitality had a net margin of 6.30% and a return on equity of 4.25%. DiamondRock Hospitality's revenue for the quarter was up .5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.17 earnings per share. Research analysts predict that DiamondRock Hospitality will post 0.96 earnings per share for the current fiscal year.

DiamondRock Hospitality Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Friday, March 28th were paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 4.30%. This is an increase from DiamondRock Hospitality's previous quarterly dividend of $0.03. The ex-dividend date was Friday, March 28th. DiamondRock Hospitality's payout ratio is currently 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.