Picton Mahoney Asset Management Acquires 21,972 Shares of DiamondRock Hospitality (NYSE:DRH)

Picton Mahoney Asset Management boosted its holdings in DiamondRock Hospitality (NYSE:DRH) by 53.0% in the fourth quarter, HoldingsChannel reports. The firm owned 63,417 shares of the real estate investment trust’s stock after purchasing an additional 21,972 shares during the period. Picton Mahoney Asset Management’s holdings in DiamondRock Hospitality were worth $572,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in DRH. State of New Jersey Common Pension Fund D increased its holdings in DiamondRock Hospitality by 3.7% in the third quarter. State of New Jersey Common Pension Fund D now owns 229,847 shares of the real estate investment trust’s stock worth $2,007,000 after purchasing an additional 8,173 shares in the last quarter. GSA Capital Partners LLP bought a new stake in DiamondRock Hospitality in the third quarter worth approximately $126,000. Victory Capital Management Inc. grew its stake in DiamondRock Hospitality by 0.9% in the third quarter. Victory Capital Management Inc. now owns 2,642,787 shares of the real estate investment trust’s stock valued at $23,072,000 after acquiring an additional 24,249 shares during the period. Metis Global Partners LLC increased its holdings in shares of DiamondRock Hospitality by 29.6% during the third quarter. Metis Global Partners LLC now owns 21,346 shares of the real estate investment trust’s stock valued at $186,000 after acquiring an additional 4,878 shares in the last quarter. Finally, Segall Bryant & Hamill LLC bought a new stake in shares of DiamondRock Hospitality during the third quarter valued at approximately $264,000.

Analyst Upgrades and Downgrades

Several research firms have recently commented on DRH. 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. Stifel Nicolaus downgraded DiamondRock Hospitality from a “buy” rating to a “hold” rating and decreased their price objective for the company from $10.75 to $10.25 in a report on Friday, November 22nd. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $10.05.

DiamondRock Hospitality Trading Up 2.4 %

Shares of DiamondRock Hospitality stock opened at $7.91 on Friday. The stock has a fifty day simple moving average of $8.57 and a 200 day simple moving average of $8.85. DiamondRock Hospitality has a 12-month low of $7.69 and a 12-month high of $10.00. The company has a market capitalization of $1.64 billion, a P/E ratio of 28.23, a price-to-earnings-growth ratio of 2.06 and a beta of 1.63. 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 business also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be issued a dividend of $0.08 per share. The ex-dividend date is Friday, March 28th. This represents a $0.32 annualized dividend and a yield of 4.05%. This is an increase from DiamondRock Hospitality’s previous quarterly dividend of $0.03. DiamondRock Hospitality’s dividend payout ratio is 188.24%.

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.