Geode Capital Management LLC cut its stake in shares of DiamondRock Hospitality (NYSE:DRH - Free Report) by 2.1% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,239,709 shares of the real estate investment trust's stock after selling 110,574 shares during the period. Geode Capital Management LLC owned about 2.52% of DiamondRock Hospitality worth $47,325,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also bought and sold shares of the company. State Street Corp grew its stake in shares of DiamondRock Hospitality by 1.8% in the third quarter. State Street Corp now owns 12,535,384 shares of the real estate investment trust's stock worth $109,806,000 after purchasing an additional 221,219 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of DiamondRock Hospitality by 18.7% in the 4th quarter. JPMorgan Chase & Co. now owns 5,716,469 shares of the real estate investment trust's stock valued at $51,620,000 after buying an additional 901,600 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of DiamondRock Hospitality by 1.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,557,580 shares of the real estate investment trust's stock valued at $41,155,000 after buying an additional 81,916 shares during the period. Bank of New York Mellon Corp raised its position in shares of DiamondRock Hospitality by 7.7% during the fourth quarter. Bank of New York Mellon Corp now owns 1,924,700 shares of the real estate investment trust's stock worth $17,380,000 after acquiring an additional 137,200 shares during the last quarter. Finally, Cbre Investment Management Listed Real Assets LLC bought a new position in shares of DiamondRock Hospitality during the fourth quarter worth about $14,889,000.
DiamondRock Hospitality Stock Up 2.1 %
NYSE DRH traded up $0.15 on Friday, hitting $6.97. 2,020,989 shares of the company were exchanged, compared to its average volume of 2,165,928. 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 stock has a fifty day moving average of $7.80 and a 200-day moving average of $8.61. The company has a market cap of $1.45 billion, a PE ratio of 24.88, a PEG ratio of 2.06 and a beta of 1.38. DiamondRock Hospitality has a 12 month low of $6.19 and a 12 month high of $10.00.
DiamondRock Hospitality Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Friday, March 28th were issued a dividend of $0.08 per share. This is a positive change from DiamondRock Hospitality's previous quarterly dividend of $0.03. This represents a $0.32 dividend on an annualized basis and a yield of 4.59%. The ex-dividend date was Friday, March 28th. DiamondRock Hospitality's payout ratio is currently 188.24%.
Analyst Upgrades and Downgrades
A number of research firms have weighed in on DRH. Wells Fargo & Company decreased their target price 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. Stifel Nicolaus decreased their price target on DiamondRock Hospitality from $9.75 to $8.00 and set a "hold" rating for the company in a report on Wednesday. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $9.60.
Get Our Latest Report on DiamondRock Hospitality
DiamondRock Hospitality Company Profile
(
Free Report)
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.
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