Inspire Investing LLC lowered its position in shares of DiamondRock Hospitality (NYSE:DRH – Free Report) by 6.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 44,256 shares of the real estate investment trust’s stock after selling 3,191 shares during the quarter. Inspire Investing LLC’s holdings in DiamondRock Hospitality were worth $400,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. Quarry LP raised its holdings in shares of DiamondRock Hospitality by 2,093.9% during the second quarter. Quarry LP now owns 3,949 shares of the real estate investment trust’s stock valued at $33,000 after acquiring an additional 3,769 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of 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 acquiring an additional 2,116 shares during the last quarter. Harbor Capital Advisors Inc. acquired a new position in shares of DiamondRock Hospitality during the third quarter valued at approximately $74,000. SG Americas Securities LLC acquired a new position in shares of DiamondRock Hospitality during the third quarter valued at approximately $100,000. Finally, GSA Capital Partners LLP acquired a new position in shares of DiamondRock Hospitality during the third quarter valued at approximately $126,000.
Analyst Ratings Changes
A number of equities analysts have commented on the company. Wells Fargo & Company increased their target price on DiamondRock Hospitality from $10.00 to $10.50 and gave the company an “equal weight” rating in a report on Monday, December 9th. Stifel Nicolaus cut DiamondRock Hospitality from a “buy” rating to a “hold” rating and cut their price target for the company from $10.75 to $10.25 in a report on Friday, November 22nd. Evercore ISI cut 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. Finally, StockNews.com raised DiamondRock Hospitality from a “sell” rating to a “hold” rating in a report on Tuesday, November 12th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, DiamondRock Hospitality has an average rating of “Hold” and a consensus target price of $10.25.
DiamondRock Hospitality Trading Up 1.8 %
Shares of DiamondRock Hospitality stock opened at $9.03 on Tuesday. The firm has a market capitalization of $1.87 billion, a price-to-earnings ratio of 32.25, a PEG ratio of 4.94 and a beta of 1.59. DiamondRock Hospitality has a fifty-two week low of $7.74 and a fifty-two week high of $10.00. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.73 and a current ratio of 1.73. The stock has a 50 day moving average of $9.19 and a 200 day moving average of $8.82.
DiamondRock Hospitality Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 14th. Investors of record on Tuesday, December 31st were given a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 14.17%. This is a positive change from DiamondRock Hospitality’s previous quarterly dividend of $0.03. The ex-dividend date of this dividend was Tuesday, December 31st. DiamondRock Hospitality’s dividend payout ratio is presently 42.86%.
DiamondRock Hospitality 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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