Resona Asset Management Co. Ltd. Takes $756,000 Position in DiamondRock Hospitality (NYSE:DRH)

Resona Asset Management Co. Ltd. bought a new stake in DiamondRock Hospitality (NYSE:DRH - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 82,217 shares of the real estate investment trust's stock, valued at approximately $756,000.

Other large investors have also bought and sold shares of the company. Smartleaf Asset Management LLC lifted its position in shares of DiamondRock Hospitality by 278.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 9,769 shares of the real estate investment trust's stock valued at $89,000 after purchasing an additional 7,189 shares in the last quarter. KBC Group NV lifted its position in shares of DiamondRock Hospitality by 55.9% during the 4th quarter. KBC Group NV now owns 10,436 shares of the real estate investment trust's stock worth $94,000 after buying an additional 3,744 shares in the last quarter. Xponance Inc. boosted its stake in shares of DiamondRock Hospitality by 9.9% in the 4th quarter. Xponance Inc. now owns 15,098 shares of the real estate investment trust's stock worth $136,000 after buying an additional 1,360 shares during the last quarter. Choreo LLC grew its holdings in shares of DiamondRock Hospitality by 55.1% in the fourth quarter. Choreo LLC now owns 15,553 shares of the real estate investment trust's stock valued at $142,000 after acquiring an additional 5,523 shares in the last quarter. Finally, Landscape Capital Management L.L.C. purchased a new stake in shares of DiamondRock Hospitality during the fourth quarter valued at approximately $147,000.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on DRH shares. Stifel Nicolaus lowered their target price on DiamondRock Hospitality from $9.75 to $8.00 and set a "hold" rating on the stock in a research note on Wednesday. Wells Fargo & Company lowered their price objective 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. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $9.60.

DiamondRock Hospitality Stock Performance

Shares of DRH traded up $0.03 during trading hours on Wednesday, hitting $6.94. The company's stock had a trading volume of 282,031 shares, compared to its average volume of 2,323,434. The business has a 50 day simple moving average of $7.90 and a two-hundred day simple moving average of $8.65. The company has a market cap of $1.45 billion, a price-to-earnings ratio of 24.77, a PEG ratio of 2.06 and a beta of 1.38. DiamondRock Hospitality has a 52-week low of $6.18 and a 52-week high of $10.00. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.73 and a quick ratio of 1.73.

DiamondRock Hospitality Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 11th. Stockholders 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 4.61%. DiamondRock Hospitality's payout ratio is 188.24%.

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.