Price T Rowe Associates Inc. MD Raises Stock Holdings in DiamondRock Hospitality (NYSE:DRH)

Price T Rowe Associates Inc. MD increased its position in shares of DiamondRock Hospitality (NYSE:DRH - Free Report) by 20.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 443,153 shares of the real estate investment trust's stock after acquiring 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 Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Cbre Investment Management Listed Real Assets LLC purchased a new position in shares of DiamondRock Hospitality during the 4th quarter valued at $14,889,000. Lasalle Investment Management Securities LLC bought a new position in DiamondRock Hospitality in the 4th quarter worth about $9,982,000. Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of DiamondRock Hospitality by 458.3% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,300,414 shares of the real estate investment trust's stock valued at $11,743,000 after acquiring an additional 1,067,497 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of DiamondRock Hospitality by 18.7% during 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 acquiring an additional 901,600 shares during the last quarter. Finally, Centersquare Investment Management LLC grew its holdings in shares of DiamondRock Hospitality by 18.8% during the fourth quarter. Centersquare Investment Management LLC now owns 5,283,922 shares of the real estate investment trust's stock worth $47,714,000 after purchasing an additional 834,506 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on DRH shares. Wells Fargo & Company lowered their target price on shares of 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. Evercore ISI cut 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 report on Monday, April 28th. Morgan Stanley lowered their price target on 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 upped their price objective on DiamondRock Hospitality from $8.00 to $8.25 and gave the stock a "hold" rating in a report on Friday, May 2nd. Finally, Bank of America raised DiamondRock Hospitality from an "underperform" rating to a "buy" rating and set a $9.50 price objective on the stock in a report on Wednesday, April 30th. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat.com, DiamondRock Hospitality currently has a consensus rating of "Hold" and a consensus price target of $9.04.

DiamondRock Hospitality Trading Up 1.1 %

DRH stock traded up $0.08 during trading on Friday, hitting $7.58. 3,215,892 shares of the company traded hands, compared to its average volume of 2,218,016. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.73 and a current ratio of 1.73. The company has a 50-day moving average of $7.48 and a 200-day moving average of $8.45. The firm has a market capitalization of $1.58 billion, a PE ratio of 27.07, a P/E/G 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.

DiamondRock Hospitality (NYSE:DRH - Get Free Report) last issued its earnings results 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. 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 for the quarter, compared to analysts' expectations of $256.47 million. During the same quarter last year, the business earned $0.17 earnings per share. The business's revenue was up .5% on a year-over-year basis. Analysts predict that DiamondRock Hospitality will post 0.96 earnings per share for the current fiscal year.

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 dividend of $0.08 per share. This is a positive change from DiamondRock Hospitality's previous quarterly dividend of $0.03. This represents a $0.32 dividend on an annualized basis and a dividend yield of 4.22%. The ex-dividend date was Friday, March 28th. DiamondRock Hospitality's dividend payout ratio is currently 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.