DiamondRock Hospitality (NYSE:DRH) Shares Sold by Wells Fargo & Company MN

Wells Fargo & Company MN trimmed its holdings in shares of DiamondRock Hospitality (NYSE:DRH - Free Report) by 32.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 124,320 shares of the real estate investment trust's stock after selling 60,345 shares during the quarter. Wells Fargo & Company MN owned approximately 0.06% of DiamondRock Hospitality worth $1,123,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC boosted 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 purchasing an additional 7,189 shares during the last quarter. KBC Group NV grew its stake in shares of DiamondRock Hospitality by 55.9% in the 4th quarter. KBC Group NV now owns 10,436 shares of the real estate investment trust's stock valued at $94,000 after buying an additional 3,744 shares during the period. Xponance Inc. increased its holdings in shares of DiamondRock Hospitality by 9.9% during 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 increased its holdings in shares of DiamondRock Hospitality by 55.1% during the 4th quarter. Choreo LLC now owns 15,553 shares of the real estate investment trust's stock worth $142,000 after buying an additional 5,523 shares during the last quarter. Finally, Landscape Capital Management L.L.C. purchased a new stake in shares of DiamondRock Hospitality during the 4th quarter valued at approximately $147,000.

DiamondRock Hospitality Stock Performance

NYSE DRH traded down $0.03 during trading hours on Monday, hitting $7.60. 236,573 shares of the stock were exchanged, compared to its average volume of 2,421,505. DiamondRock Hospitality has a 12-month low of $6.18 and a 12-month high of $10.00. The stock has a 50-day moving average of $7.54 and a 200 day moving average of $8.49. The company has a market cap of $1.59 billion, a price-to-earnings ratio of 27.12, a price-to-earnings-growth ratio of 2.06 and a beta of 1.38. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.66.

DiamondRock Hospitality (NYSE:DRH - Get Free Report) last posted its quarterly 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 business 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 company's quarterly revenue was up .5% compared to the same quarter last year. As a group, equities research analysts forecast that DiamondRock Hospitality will post 0.96 earnings per share for the current year.

DiamondRock Hospitality Increases Dividend

The business also recently disclosed 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 dividend on an annualized basis and a yield of 4.21%. The ex-dividend date was Friday, March 28th. This is a boost 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

DRH has been the topic of several recent research reports. Stifel Nicolaus upped their target price on shares of DiamondRock Hospitality from $8.00 to $8.25 and gave the stock a "hold" rating in a research note on Friday. Bank of America upgraded 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. Evercore ISI decreased their target price on 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. Wells Fargo & Company decreased their price objective on DiamondRock Hospitality from $10.50 to $9.50 and set an "equal weight" rating for the company in a report on Tuesday, February 18th. Finally, Morgan Stanley reduced 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 report on Tuesday, April 22nd. Six research 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.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $9.04.

About DiamondRock Hospitality

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.