DiamondRock Hospitality (NYSE:DRH) Stake Boosted by Martingale Asset Management L P

Martingale Asset Management L P boosted its holdings in DiamondRock Hospitality (NYSE:DRH - Free Report) by 686.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 86,359 shares of the real estate investment trust's stock after buying an additional 75,385 shares during the period. Martingale Asset Management L P's holdings in DiamondRock Hospitality were worth $780,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in DRH. Jane Street Group LLC increased its position in DiamondRock Hospitality by 73.0% during the third quarter. Jane Street Group LLC now owns 302,757 shares of the real estate investment trust's stock worth $2,643,000 after purchasing an additional 127,717 shares during the last quarter. JPMorgan Chase & Co. grew its position in DiamondRock Hospitality by 18.7% during the fourth quarter. JPMorgan Chase & Co. now owns 5,716,469 shares of the real estate investment trust's stock valued at $51,620,000 after acquiring an additional 901,600 shares during the period. Geode Capital Management LLC increased its stake in DiamondRock Hospitality by 0.5% during the third quarter. Geode Capital Management LLC now owns 5,350,283 shares of the real estate investment trust's stock worth $46,716,000 after acquiring an additional 28,391 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of DiamondRock Hospitality by 45.2% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 138,327 shares of the real estate investment trust's stock worth $1,249,000 after purchasing an additional 43,088 shares during the period. Finally, Cbre Investment Management Listed Real Assets LLC acquired a new position in shares of DiamondRock Hospitality in the 4th quarter valued at about $14,889,000.

Wall Street Analysts Forecast Growth

DRH has been the subject of a number of research analyst reports. Wells Fargo & Company dropped 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 cut their price objective on DiamondRock Hospitality from $9.75 to $8.00 and set a "hold" rating on the stock in a research report on Wednesday. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat, DiamondRock Hospitality currently has an average rating of "Hold" and an average target price of $9.60.

DiamondRock Hospitality Stock Up 2.1 %

Shares of DiamondRock Hospitality stock traded up $0.15 during trading hours on Friday, hitting $6.97. 2,020,989 shares of the company's stock traded hands, compared to its average volume of 2,166,562. 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 twelve month low of $6.19 and a twelve month high of $10.00. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.66. The stock has a 50 day simple moving average of $7.83 and a 200-day simple moving average of $8.62.

DiamondRock Hospitality Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Friday, March 28th were issued a $0.08 dividend. 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 yield of 4.59%. DiamondRock Hospitality's dividend payout ratio is currently 188.24%.

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.