Graham Capital Management L.P. Increases Position in DiamondRock Hospitality (NYSE:DRH)

Graham Capital Management L.P. lifted its position in DiamondRock Hospitality (NYSE:DRH - Free Report) by 81.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 228,752 shares of the real estate investment trust's stock after purchasing an additional 102,704 shares during the quarter. Graham Capital Management L.P. owned about 0.11% of DiamondRock Hospitality worth $2,066,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. FIL Ltd purchased a new stake in DiamondRock Hospitality in the fourth quarter valued at approximately $60,000. Smartleaf Asset Management LLC lifted its holdings in shares of DiamondRock Hospitality by 278.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 9,769 shares of the real estate investment trust's stock worth $89,000 after acquiring an additional 7,189 shares during the last quarter. Caxton Associates LP purchased a new position in DiamondRock Hospitality in the fourth quarter worth $92,000. KBC Group NV increased 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. Finally, Dark Forest Capital Management LP purchased a new stake in DiamondRock Hospitality during the fourth quarter valued at about $117,000.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on DRH shares. Bank of America upgraded DiamondRock Hospitality from an "underperform" rating to a "buy" rating and set a $9.50 price objective on the stock in a research report on Wednesday, April 30th. Morgan Stanley lowered their price objective on shares of DiamondRock Hospitality from $9.00 to $7.00 and set an "equal weight" rating for the company in a report on Tuesday, April 22nd. Wells Fargo & Company cut their price objective on shares of DiamondRock Hospitality from $10.50 to $9.50 and set an "equal weight" rating for the company in a research note on Tuesday, February 18th. Stifel Nicolaus lifted their target price on shares of DiamondRock Hospitality from $8.00 to $8.25 and gave the stock a "hold" rating in a research report on Friday, May 2nd. Finally, Evercore ISI lowered 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 note on Monday, April 28th. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $9.04.

DiamondRock Hospitality Trading Down 0.4%

DRH traded down $0.03 during trading on Thursday, hitting $7.82. 1,797,812 shares of the stock traded hands, compared to its average volume of 2,225,793. The firm has a market capitalization of $1.61 billion, a P/E ratio of 27.93, a price-to-earnings-growth ratio of 2.06 and a beta of 1.33. DiamondRock Hospitality has a 12-month low of $6.19 and a 12-month high of $10.00. 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 firm has a 50-day moving average of $7.45 and a 200 day moving average of $8.43.

DiamondRock Hospitality (NYSE:DRH - Get Free Report) last posted its earnings results on Thursday, May 1st. The real estate investment trust reported $0.19 earnings per share for the quarter, topping analysts' consensus estimates of $0.17 by $0.02. DiamondRock Hospitality had a net margin of 6.30% and a return on equity of 4.25%. The company had revenue of $254.85 million during the quarter, compared to analyst estimates of $256.47 million. During the same period in the prior year, the business posted $0.17 earnings per share. DiamondRock Hospitality's revenue for the quarter was up .5% on a year-over-year basis. Equities research analysts anticipate that DiamondRock Hospitality will post 0.96 EPS for the current 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 paid a dividend of $0.08 per share. The ex-dividend date was Friday, March 28th. This is a boost from DiamondRock Hospitality's previous quarterly dividend of $0.03. This represents a $0.32 annualized dividend and a dividend yield of 4.09%. DiamondRock Hospitality's payout ratio is 177.78%.

DiamondRock Hospitality Company 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.