Entropy Technologies LP Makes New Investment in DiamondRock Hospitality (NYSE:DRH)

Entropy Technologies LP purchased a new stake in DiamondRock Hospitality (NYSE:DRH) during the fourth quarter, Holdings Channel.com reports. The firm purchased 94,910 shares of the real estate investment trust’s stock, valued at approximately $857,000.

Other large investors have also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. boosted its position in DiamondRock Hospitality by 35.1% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,153 shares of the real estate investment trust’s stock valued at $73,000 after purchasing an additional 2,116 shares in the last quarter. Harbor Capital Advisors Inc. purchased a new stake in shares of DiamondRock Hospitality during the third quarter valued at about $74,000. KBC Group NV boosted its holdings 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 in the last quarter. SG Americas Securities LLC purchased a new position in shares of DiamondRock Hospitality in the 3rd quarter worth approximately $100,000. Finally, GSA Capital Partners LLP bought a new position in shares of DiamondRock Hospitality during the 3rd quarter worth approximately $126,000.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on DRH shares. Stifel Nicolaus downgraded shares of DiamondRock Hospitality from a “buy” rating to a “hold” rating and lowered their target price for the company from $10.75 to $10.25 in a research note on Friday, November 22nd. Wells Fargo & Company raised their price objective on DiamondRock Hospitality from $10.00 to $10.50 and gave the stock an “equal weight” rating in a research report on Monday, December 9th. StockNews.com raised DiamondRock Hospitality from a “sell” rating to a “hold” rating in a research report on Tuesday, November 12th. Finally, Evercore ISI downgraded DiamondRock Hospitality from an “outperform” rating to an “inline” rating and set a $10.50 price target for the company. in a report on Friday, November 15th. Four investment 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 presently has a consensus rating of “Hold” and an average target price of $10.25.

DiamondRock Hospitality Price Performance

NYSE DRH opened at $8.63 on Wednesday. The company has a market cap of $1.79 billion, a price-to-earnings ratio of 30.80, a PEG ratio of 4.88 and a beta of 1.57. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.73 and a quick ratio of 1.73. The stock’s fifty day moving average price is $9.10 and its 200 day moving average price is $8.85. DiamondRock Hospitality has a 1 year low of $7.74 and a 1 year high of $10.00.

DiamondRock Hospitality Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 14th. Stockholders of record on Tuesday, December 31st were paid a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 14.84%. This is a boost from DiamondRock Hospitality’s previous quarterly dividend of $0.03. The ex-dividend date was Tuesday, December 31st. DiamondRock Hospitality’s dividend payout ratio (DPR) is presently 42.86%.

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.