Nebula Research & Development LLC Buys New Holdings in DiamondRock Hospitality (NYSE:DRH)

Nebula Research & Development LLC acquired a new position in shares of DiamondRock Hospitality (NYSE:DRH - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 80,288 shares of the real estate investment trust's stock, valued at approximately $725,000.

Several other hedge funds also recently made changes to their positions in DRH. FIL Ltd purchased a new position in DiamondRock Hospitality during the fourth quarter worth about $60,000. Smartleaf Asset Management LLC raised its stake 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 buying an additional 7,189 shares in the last quarter. KBC Group NV lifted its holdings in shares of DiamondRock Hospitality by 55.9% in the 4th quarter. KBC Group NV now owns 10,436 shares of the real estate investment trust's stock valued at $94,000 after buying an additional 3,744 shares during the period. Dark Forest Capital Management LP purchased a new stake in shares of DiamondRock Hospitality in the fourth quarter valued at approximately $117,000. Finally, Xponance Inc. grew its holdings in DiamondRock Hospitality by 9.9% during the fourth quarter. Xponance Inc. now owns 15,098 shares of the real estate investment trust's stock worth $136,000 after acquiring an additional 1,360 shares during the period.

DiamondRock Hospitality Price Performance

DiamondRock Hospitality stock traded up $0.23 during midday trading on Friday, reaching $7.63. 5,083,310 shares of the company were exchanged, compared to its average volume of 2,192,673. The firm's 50-day simple moving average is $7.54 and its 200-day simple moving average is $8.49. DiamondRock Hospitality has a 1 year low of $6.19 and a 1 year high of $10.00. The company has a market capitalization of $1.59 billion, a price-to-earnings ratio of 27.23, a P/E/G ratio of 2.06 and a beta of 1.38. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.73 and a current ratio of 1.73.

DiamondRock Hospitality (NYSE:DRH - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The real estate investment trust reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.02. The business had revenue of $254.85 million for the quarter, compared to analysts' expectations of $256.47 million. DiamondRock Hospitality had a return on equity of 4.25% and a net margin of 6.30%. The business's revenue was up .5% on a year-over-year basis. During the same quarter last year, the firm earned $0.17 earnings per share. On average, analysts anticipate that DiamondRock Hospitality will post 0.96 EPS for the current year.

DiamondRock Hospitality Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Friday, March 28th were given a $0.08 dividend. 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 4.20%. DiamondRock Hospitality's dividend payout ratio (DPR) is currently 188.24%.

Analysts Set New Price Targets

Several equities research analysts have commented on DRH shares. Morgan Stanley decreased their target price on shares of DiamondRock Hospitality from $9.00 to $7.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 22nd. Stifel Nicolaus increased 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. Evercore ISI reduced 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 report on Monday, April 28th. Wells Fargo & Company dropped their price objective on 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. Finally, Bank of America upgraded DiamondRock Hospitality from an "underperform" rating to a "buy" rating and set a $9.50 target price on the stock in a research report on Wednesday. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, DiamondRock Hospitality presently has a consensus rating of "Hold" and a consensus target price of $9.04.

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.