Raymond James Financial Inc. Makes New $1.82 Million Investment in DiamondRock Hospitality (NYSE:DRH)

Raymond James Financial Inc. acquired a new position in shares of DiamondRock Hospitality (NYSE:DRH - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 201,108 shares of the real estate investment trust's stock, valued at approximately $1,816,000. Raymond James Financial Inc. owned approximately 0.10% of DiamondRock Hospitality at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the company. Cbre Investment Management Listed Real Assets LLC acquired a new stake in DiamondRock Hospitality during the fourth quarter worth $14,889,000. Sumitomo Mitsui Trust Group Inc. boosted its position in shares of DiamondRock Hospitality by 458.3% during 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. increased its stake in DiamondRock Hospitality by 18.7% in 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. Centersquare Investment Management LLC raised its position in DiamondRock Hospitality by 18.8% in 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. Finally, Norges Bank bought a new position in DiamondRock Hospitality during the fourth quarter worth about $5,839,000.

DiamondRock Hospitality Price Performance

Shares of DRH traded down $0.01 during mid-day trading on Wednesday, hitting $7.41. 5,427,750 shares of the company traded hands, compared to its average volume of 2,205,955. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.66. The stock has a market capitalization of $1.55 billion, a price-to-earnings ratio of 26.46, a PEG ratio of 2.06 and a beta of 1.33. The business has a 50-day moving average of $7.50 and a 200 day moving average of $8.47. DiamondRock Hospitality has a one year low of $6.19 and a one year high of $10.00.

DiamondRock Hospitality (NYSE:DRH - Get Free Report) last released its 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. DiamondRock Hospitality had a return on equity of 4.25% and a net margin of 6.30%. The company had revenue of $254.85 million during the quarter, compared to analysts' expectations of $256.47 million. During the same period last year, the firm earned $0.17 EPS. The business's revenue for the quarter was up .5% on a year-over-year basis. As a group, equities analysts expect that DiamondRock Hospitality will post 0.96 earnings per share for the current fiscal year.

DiamondRock Hospitality Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Friday, March 28th were issued a $0.08 dividend. This is a positive change from DiamondRock Hospitality's previous quarterly dividend of $0.03. This represents a $0.32 annualized dividend and a yield of 4.32%. The ex-dividend date was Friday, March 28th. DiamondRock Hospitality's dividend payout ratio is currently 177.78%.

Analysts Set New Price Targets

Several equities analysts recently commented on DRH shares. Wells Fargo & Company cut their target price on 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. Bank of America upgraded shares of 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. Stifel Nicolaus lifted their price target on shares of DiamondRock Hospitality from $8.00 to $8.25 and gave the company a "hold" rating in a report on Friday, May 2nd. Morgan Stanley decreased their price objective on shares of 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. Finally, 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 note on Monday, April 28th. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $9.04.

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.