DiamondRock Hospitality (NYSE:DRH) Shares Sold by Van Lanschot Kempen Investment Management N.V.

Van Lanschot Kempen Investment Management N.V. trimmed its position in DiamondRock Hospitality (NYSE:DRH - Free Report) by 81.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 288,612 shares of the real estate investment trust's stock after selling 1,282,673 shares during the period. Van Lanschot Kempen Investment Management N.V. owned approximately 0.14% of DiamondRock Hospitality worth $2,606,000 as of its most recent filing with the Securities & 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 stake in shares of DiamondRock Hospitality during the 4th quarter valued at $14,889,000. Lasalle Investment Management Securities LLC acquired a new stake in DiamondRock Hospitality in the fourth quarter worth about $9,982,000. Sumitomo Mitsui Trust Group Inc. grew its stake in shares of DiamondRock Hospitality by 458.3% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,300,414 shares of the real estate investment trust's stock worth $11,743,000 after acquiring an additional 1,067,497 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of DiamondRock Hospitality by 18.7% during the fourth quarter. JPMorgan Chase & Co. now owns 5,716,469 shares of the real estate investment trust's stock worth $51,620,000 after acquiring an additional 901,600 shares during the last quarter. Finally, Centersquare Investment Management LLC increased 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 valued at $47,714,000 after acquiring an additional 834,506 shares in the last quarter.

DiamondRock Hospitality Stock Performance

DiamondRock Hospitality stock traded up $0.09 during mid-day trading on Friday, hitting $7.21. The company had a trading volume of 2,147,422 shares, compared to its average volume of 2,164,838. The company has a market capitalization of $1.51 billion, a price-to-earnings ratio of 25.75, a P/E/G ratio of 2.06 and a beta of 1.38. DiamondRock Hospitality has a 12-month low of $6.19 and a 12-month high of $10.00. The company's fifty day moving average is $7.64 and its 200-day moving average is $8.55. 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 Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Friday, March 28th were given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 4.44%. The ex-dividend date of this dividend was Friday, March 28th. This is a positive change from DiamondRock Hospitality's previous quarterly dividend of $0.03. DiamondRock Hospitality's dividend payout ratio (DPR) is currently 188.24%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on DRH shares. Wells Fargo & Company lowered their price objective on shares of DiamondRock Hospitality from $10.50 to $9.50 and set an "equal weight" rating for the company in a research note on Tuesday, February 18th. Stifel Nicolaus lowered their price target on DiamondRock Hospitality from $9.75 to $8.00 and set a "hold" rating for the company in a research report on Wednesday, April 16th. Finally, Morgan Stanley cut their price objective on DiamondRock Hospitality from $9.00 to $7.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 22nd. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $9.17.

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.