Lighthouse Investment Partners LLC Sells 60,000 Shares of DiamondRock Hospitality (NYSE:DRH)

Lighthouse Investment Partners LLC lowered its stake in DiamondRock Hospitality (NYSE:DRH - Free Report) by 6.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 835,000 shares of the real estate investment trust's stock after selling 60,000 shares during the quarter. Lighthouse Investment Partners LLC owned 0.40% of DiamondRock Hospitality worth $7,540,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in DRH. GRS Advisors LLC purchased a new stake in DiamondRock Hospitality during the fourth quarter valued at approximately $9,919,000. Graham Capital Management L.P. boosted its position in shares of DiamondRock Hospitality by 81.5% during the 4th quarter. Graham Capital Management L.P. now owns 228,752 shares of the real estate investment trust's stock valued at $2,066,000 after acquiring an additional 102,704 shares during the last quarter. Deutsche Bank AG grew its stake in shares of DiamondRock Hospitality by 24.8% in the 4th quarter. Deutsche Bank AG now owns 275,483 shares of the real estate investment trust's stock worth $2,488,000 after buying an additional 54,794 shares in the last quarter. Cubist Systematic Strategies LLC bought a new stake in DiamondRock Hospitality during the fourth quarter worth approximately $163,000. Finally, Brevan Howard Capital Management LP bought a new stake in shares of DiamondRock Hospitality in the 4th quarter valued at approximately $300,000.

Analyst Ratings Changes

Several research firms recently weighed in on DRH. Wells Fargo & Company decreased their price target on DiamondRock Hospitality from $10.50 to $9.50 and set an "equal weight" rating on the stock in a report on Tuesday, February 18th. Evercore ISI lowered their target price on shares of DiamondRock Hospitality from $10.00 to $9.00 and set an "in-line" rating for the company in a report on Monday, April 28th. Bank of America upgraded shares of DiamondRock Hospitality from an "underperform" rating to a "buy" rating and set a $9.50 price target on the stock in a report on Wednesday, April 30th. Morgan Stanley decreased 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 research note on Tuesday, April 22nd. Finally, Stifel Nicolaus boosted their target price on DiamondRock Hospitality from $8.00 to $8.25 and gave the company a "hold" rating in a research report on Friday, May 2nd. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $9.04.

DiamondRock Hospitality Trading Up 0.1%

Shares of DiamondRock Hospitality stock traded up $0.01 on Friday, hitting $7.82. 2,077,953 shares of the company traded hands, compared to its average volume of 2,222,038. DiamondRock Hospitality has a 52 week low of $6.19 and a 52 week high of $10.00. The company has a market cap of $1.61 billion, a PE ratio of 27.93, a PEG ratio of 2.06 and a beta of 1.33. The stock's 50 day moving average price is $7.44 and its 200-day moving average price is $8.42. 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 (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, 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 firm earned $0.17 earnings per share. The firm's revenue for the quarter was up .5% compared to the same quarter last year. Equities research analysts predict that DiamondRock Hospitality will post 0.96 EPS for the current 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 dividend of $0.08 per share. The ex-dividend date was Friday, March 28th. This is an increase from DiamondRock Hospitality's previous quarterly dividend of $0.03. This represents a $0.32 dividend on an annualized basis and a dividend yield of 4.09%. DiamondRock Hospitality's dividend payout ratio (DPR) 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.