Great Lakes Advisors LLC boosted its stake in DiamondRock Hospitality (NYSE:DRH – Free Report) by 9.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 734,391 shares of the real estate investment trust’s stock after acquiring an additional 64,852 shares during the period. Great Lakes Advisors LLC owned about 0.35% of DiamondRock Hospitality worth $5,897,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. National Bank of Canada FI purchased a new stake in shares of DiamondRock Hospitality in the third quarter valued at about $30,000. BOKF NA purchased a new stake in shares of DiamondRock Hospitality in the second quarter valued at about $56,000. Tower Research Capital LLC TRC raised its holdings in shares of DiamondRock Hospitality by 711.7% in the first quarter. Tower Research Capital LLC TRC now owns 7,119 shares of the real estate investment trust’s stock valued at $58,000 after buying an additional 6,242 shares during the last quarter. Advisor Partners II LLC purchased a new stake in shares of DiamondRock Hospitality in the first quarter valued at about $83,000. Finally, LPL Financial LLC raised its holdings in shares of DiamondRock Hospitality by 10.2% in the second quarter. LPL Financial LLC now owns 13,698 shares of the real estate investment trust’s stock valued at $110,000 after buying an additional 1,266 shares during the last quarter.
Analyst Ratings Changes
A number of brokerages have recently commented on DRH. Wolfe Research began coverage on shares of DiamondRock Hospitality in a report on Wednesday, January 10th. They issued an “outperform” rating and a $11.00 target price for the company. Wells Fargo & Company upped their target price on shares of DiamondRock Hospitality from $9.00 to $10.00 and gave the company an “equal weight” rating in a report on Friday, December 22nd. Morgan Stanley boosted their price target on shares of DiamondRock Hospitality from $8.50 to $9.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 7th. Finally, StockNews.com lowered shares of DiamondRock Hospitality from a “hold” rating to a “sell” rating in a research note on Saturday. One analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $9.83.
DiamondRock Hospitality Stock Performance
Shares of DRH stock opened at $9.26 on Friday. The stock has a fifty day moving average price of $9.15 and a 200 day moving average price of $8.42. The stock has a market cap of $1.94 billion, a PE ratio of 23.73 and a beta of 1.61. DiamondRock Hospitality has a 1 year low of $7.14 and a 1 year high of $9.99. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.82 and a current ratio of 1.82.
DiamondRock Hospitality Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 11th. Investors of record on Friday, December 29th were issued a dividend of $0.03 per share. The ex-dividend date of this dividend was Thursday, December 28th. This represents a $0.12 annualized dividend and a yield of 1.30%. DiamondRock Hospitality’s dividend payout ratio is presently 30.77%.
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.
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