Jane Street Group LLC Sells 67,370 Shares of DiamondRock Hospitality (NYSE:DRH)

Jane Street Group LLC lessened its holdings in DiamondRock Hospitality (NYSE:DRH - Free Report) by 22.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 235,387 shares of the real estate investment trust's stock after selling 67,370 shares during the period. Jane Street Group LLC owned 0.11% of DiamondRock Hospitality worth $2,126,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of DRH. Invesco Ltd. lifted its stake in shares of DiamondRock Hospitality by 3.9% in the fourth quarter. Invesco Ltd. now owns 8,651,539 shares of the real estate investment trust's stock valued at $78,123,000 after buying an additional 323,745 shares during the period. JPMorgan Chase & Co. lifted its position in DiamondRock Hospitality by 18.7% during 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 purchasing an additional 901,600 shares during the period. Centersquare Investment Management LLC boosted its position in shares of DiamondRock Hospitality by 18.8% in the 4th quarter. Centersquare Investment Management LLC now owns 5,283,922 shares of the real estate investment trust's stock worth $47,714,000 after purchasing an additional 834,506 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in DiamondRock Hospitality by 1.8% during 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 purchasing an additional 81,916 shares during the period. Finally, H 2 Credit Manager LP raised its position in shares of DiamondRock Hospitality by 36.5% during the fourth quarter. H 2 Credit Manager LP now owns 3,741,445 shares of the real estate investment trust's stock worth $33,785,000 after purchasing an additional 1,000,000 shares during the period.

Analyst Upgrades and Downgrades

A number of research firms recently 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. Evercore ISI cut their price objective 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. Stifel Nicolaus raised their target price on shares of DiamondRock Hospitality from $8.00 to $8.25 and gave the company a "hold" rating in a report on Friday, May 2nd. Morgan Stanley cut their price target 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. 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 investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, DiamondRock Hospitality currently has an average rating of "Hold" and an average price target of $9.04.

DiamondRock Hospitality Stock Performance

Shares of DRH stock traded down $0.10 during trading hours on Wednesday, hitting $7.53. 1,608,192 shares of the company were exchanged, compared to its average volume of 2,217,809. 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 market capitalization of $1.55 billion, a price-to-earnings ratio of 26.88, a P/E/G ratio of 2.06 and a beta of 1.33. The firm has a fifty day simple moving average of $7.44 and a 200 day simple moving average of $8.40. 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 released its quarterly earnings data on Thursday, May 1st. The real estate investment trust reported $0.19 earnings per share for the quarter, beating analysts' consensus estimates of $0.17 by $0.02. The business 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%. DiamondRock Hospitality's revenue was up .5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.17 EPS. 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 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 of this dividend 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 4.25%. 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.