Marshall Wace LLP Invests $5.21 Million in DiamondRock Hospitality (NYSE:DRH)

Marshall Wace LLP bought a new stake in DiamondRock Hospitality (NYSE:DRH - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 576,360 shares of the real estate investment trust's stock, valued at approximately $5,205,000. Marshall Wace LLP owned about 0.28% of DiamondRock Hospitality as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Barclays PLC raised its stake in shares of DiamondRock Hospitality by 1.2% in the 4th quarter. Barclays PLC now owns 372,864 shares of the real estate investment trust's stock valued at $3,366,000 after acquiring an additional 4,248 shares in the last quarter. Sterling Capital Management LLC raised its position in shares of DiamondRock Hospitality by 10.5% in the fourth quarter. Sterling Capital Management LLC now owns 60,875 shares of the real estate investment trust's stock valued at $550,000 after purchasing an additional 5,789 shares during the period. LSV Asset Management acquired a new stake in shares of DiamondRock Hospitality in the fourth quarter worth $1,911,000. Raymond James Financial Inc. bought a new stake in shares of DiamondRock Hospitality during the 4th quarter worth $1,816,000. Finally, Martingale Asset Management L P grew its stake in DiamondRock Hospitality by 686.9% in the 4th quarter. Martingale Asset Management L P now owns 86,359 shares of the real estate investment trust's stock valued at $780,000 after buying an additional 75,385 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on DRH shares. Morgan Stanley reduced their price objective on DiamondRock Hospitality from $9.00 to $7.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 22nd. Wells Fargo & Company decreased their price target on shares of DiamondRock Hospitality from $10.50 to $9.50 and set an "equal weight" rating on the stock in a research report on Tuesday, February 18th. Stifel Nicolaus dropped their price objective on shares of DiamondRock Hospitality from $9.75 to $8.00 and set a "hold" rating on the stock in a report on Wednesday, April 16th. Finally, Evercore ISI reduced 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 research note on Monday. Six equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $8.92.

DiamondRock Hospitality Price Performance

DRH stock traded down $0.06 during trading on Tuesday, hitting $7.28. The company had a trading volume of 630,265 shares, compared to its average volume of 2,164,250. The company has a fifty day moving average price of $7.62 and a two-hundred day moving average price of $8.54. DiamondRock Hospitality has a fifty-two week low of $6.19 and a fifty-two week high of $10.00. The company has a market cap of $1.52 billion, a P/E ratio of 26.02, a P/E/G ratio of 2.06 and a beta of 1.38. 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 Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Friday, March 28th were issued a $0.08 dividend. This is a positive change from DiamondRock Hospitality's previous quarterly dividend of $0.03. The ex-dividend date was Friday, March 28th. This represents a $0.32 annualized dividend and a dividend yield of 4.40%. DiamondRock Hospitality's dividend payout ratio is presently 188.24%.

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.