Price T Rowe Associates Inc. MD Grows Stake in DiamondRock Hospitality (NYSE:DRH)

Price T Rowe Associates Inc. MD grew its holdings in shares of DiamondRock Hospitality (NYSE:DRH - Free Report) by 20.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 443,153 shares of the real estate investment trust's stock after buying an additional 76,262 shares during the period. Price T Rowe Associates Inc. MD owned approximately 0.21% of DiamondRock Hospitality worth $4,002,000 as of its most recent filing with the SEC.

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

Analysts Set New Price Targets

A number of analysts have commented on the stock. Morgan Stanley decreased their price target 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. Wells Fargo & Company dropped 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. Bank of America raised DiamondRock Hospitality from an "underperform" rating to a "buy" rating and set a $9.50 price objective for the company in a research note on Wednesday, April 30th. Stifel Nicolaus upped their price target on DiamondRock Hospitality from $8.00 to $8.25 and gave the stock a "hold" rating in a report on Friday, May 2nd. Finally, Evercore ISI cut their price objective on shares of DiamondRock Hospitality from $10.00 to $9.00 and set an "in-line" rating on the stock in a report on Monday, April 28th. Six 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, DiamondRock Hospitality has a consensus rating of "Hold" and an average price target of $9.04.

DiamondRock Hospitality Price Performance

Shares of DiamondRock Hospitality stock traded down $0.01 on Wednesday, reaching $7.41. The stock had a trading volume of 5,427,750 shares, compared to its average volume of 2,206,302. The business's 50 day moving average is $7.52 and its two-hundred day moving average is $8.47. The company has a market cap of $1.55 billion, a P/E ratio of 26.46, a price-to-earnings-growth ratio of 2.06 and a beta of 1.33. DiamondRock Hospitality has a 1 year low of $6.19 and a 1 year high of $10.00. 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 results on Thursday, May 1st. The real estate investment trust reported $0.19 EPS for the quarter, beating 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 firm had revenue of $254.85 million during the quarter, compared to analyst estimates of $256.47 million. During the same period in the previous year, the business earned $0.17 EPS. The business's revenue for the quarter was up .5% on a year-over-year basis. As a group, research analysts anticipate that DiamondRock Hospitality will post 0.96 EPS for the current year.

DiamondRock Hospitality Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Friday, March 28th were given a dividend of $0.08 per share. The ex-dividend date of this dividend was Friday, March 28th. This represents a $0.32 annualized dividend and a dividend yield of 4.32%. This is a boost from DiamondRock Hospitality's previous quarterly dividend of $0.03. DiamondRock Hospitality's dividend payout ratio (DPR) is 177.78%.

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.