DiamondRock Hospitality (NYSE:DRH) Stock Position Lifted by Northern Trust Corp

Northern Trust Corp grew its holdings in DiamondRock Hospitality (NYSE:DRH - Free Report) by 15.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,250,978 shares of the real estate investment trust's stock after buying an additional 438,310 shares during the quarter. Northern Trust Corp owned 1.57% of DiamondRock Hospitality worth $29,356,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in DRH. JPMorgan Chase & Co. grew its holdings in DiamondRock Hospitality by 18.7% in 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 buying an additional 901,600 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in 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 valued at $1,249,000 after buying an additional 43,088 shares in the last quarter. Norges Bank purchased a new stake in DiamondRock Hospitality in the 4th quarter valued at $5,839,000. Cbre Investment Management Listed Real Assets LLC purchased a new stake in DiamondRock Hospitality in the 4th quarter valued at $14,889,000. Finally, Barclays PLC grew its holdings in DiamondRock Hospitality by 37.6% in the 3rd quarter. Barclays PLC now owns 368,616 shares of the real estate investment trust's stock valued at $3,219,000 after buying an additional 100,805 shares in the last quarter.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on DRH shares. Stifel Nicolaus upped their price target on DiamondRock Hospitality from $8.00 to $8.25 and gave the company a "hold" rating in a research note on Friday, May 2nd. Morgan Stanley decreased their price target on DiamondRock Hospitality from $9.00 to $7.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 22nd. Evercore ISI decreased their target price on DiamondRock Hospitality from $10.00 to $9.00 and set an "in-line" rating on the stock in a research note on Monday, April 28th. Wells Fargo & Company decreased their target price on DiamondRock Hospitality from $10.50 to $9.50 and set an "equal weight" rating on the stock in a research note on Tuesday, February 18th. Finally, Bank of America raised DiamondRock Hospitality from an "underperform" rating to a "buy" rating and set a $9.50 target price on the stock in a research note on Wednesday, April 30th. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat.com, DiamondRock Hospitality presently has an average rating of "Hold" and an average price target of $9.04.

DiamondRock Hospitality Stock Performance

NYSE:DRH traded down $0.05 during mid-day trading on Friday, reaching $7.77. 366,572 shares of the stock were exchanged, compared to its average volume of 2,215,385. The company has a 50 day simple moving average of $7.44 and a 200-day simple moving average of $8.42. The stock has a market capitalization of $1.60 billion, a P/E ratio of 27.73, a P/E/G ratio of 2.06 and a beta of 1.33. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.66. DiamondRock Hospitality has a 1 year low of $6.19 and a 1 year high of $10.00.

DiamondRock Hospitality (NYSE:DRH - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The real estate investment trust reported $0.19 EPS for the quarter, beating the consensus estimate of $0.17 by $0.02. The business had revenue of $254.85 million during 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 company's quarterly revenue was up .5% compared to the same quarter last year. During the same period last year, the firm earned $0.17 EPS. Analysts anticipate that DiamondRock Hospitality will post 0.96 earnings per share for the current fiscal year.

DiamondRock Hospitality Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Friday, March 28th were paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 4.12%. 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. DiamondRock Hospitality's payout ratio 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.