New York State Teachers Retirement System Sells 12,507 Shares of DiamondRock Hospitality (NYSE:DRH)

New York State Teachers Retirement System decreased its position in shares of DiamondRock Hospitality (NYSE:DRH) by 3.2% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 379,655 shares of the real estate investment trust’s stock after selling 12,507 shares during the quarter. New York State Teachers Retirement System’s holdings in DiamondRock Hospitality were worth $3,428,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. boosted its stake in DiamondRock Hospitality by 35.1% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,153 shares of the real estate investment trust’s stock worth $73,000 after purchasing an additional 2,116 shares during the period. Harbor Capital Advisors Inc. bought a new position in DiamondRock Hospitality in the 3rd quarter worth about $74,000. KBC Group NV boosted its stake in 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 worth $94,000 after purchasing an additional 3,744 shares during the period. SG Americas Securities LLC bought a new position in DiamondRock Hospitality in the 3rd quarter worth about $100,000. Finally, GSA Capital Partners LLP bought a new position in DiamondRock Hospitality in the 3rd quarter worth about $126,000.

Wall Street Analyst Weigh In

Several research analysts have commented on DRH shares. Wells Fargo & Company cut their target price on DiamondRock Hospitality from $10.50 to $9.50 and set an “equal weight” rating for the company in a research note on Tuesday. Evercore ISI downgraded DiamondRock Hospitality from an “outperform” rating to an “inline” rating and set a $10.50 target price for the company. in a research note on Friday, November 15th. StockNews.com upgraded DiamondRock Hospitality from a “sell” rating to a “hold” rating in a research note on Tuesday, November 12th. Finally, Stifel Nicolaus downgraded DiamondRock Hospitality from a “buy” rating to a “hold” rating and cut their target price for the stock from $10.75 to $10.25 in a research note on Friday, November 22nd. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $10.05.

DiamondRock Hospitality Stock Performance

Shares of DRH opened at $8.22 on Friday. The company has a market cap of $1.71 billion, a PE ratio of 29.34, a price-to-earnings-growth ratio of 2.07 and a beta of 1.57. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.66. The stock has a 50-day moving average price of $8.93 and a 200-day moving average price of $8.86. DiamondRock Hospitality has a 12-month low of $7.74 and a 12-month high of $10.00.

DiamondRock Hospitality Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 14th. Stockholders of record on Tuesday, December 31st were given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 15.58%. The ex-dividend date of this dividend was Tuesday, December 31st. This is an increase from DiamondRock Hospitality’s previous quarterly dividend of $0.03. DiamondRock Hospitality’s dividend payout ratio (DPR) is 42.86%.

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.