Zurcher Kantonalbank Zurich Cantonalbank Has $1.25 Million Stock Holdings in DiamondRock Hospitality (NYSE:DRH)

Zurcher Kantonalbank Zurich Cantonalbank lifted its position in DiamondRock Hospitality (NYSE:DRH) by 45.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 138,327 shares of the real estate investment trust’s stock after purchasing an additional 43,088 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned 0.07% of DiamondRock Hospitality worth $1,249,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in DRH. Wellington Management Group LLP grew its stake in DiamondRock Hospitality by 15.6% during the third quarter. Wellington Management Group LLP now owns 4,925,093 shares of the real estate investment trust’s stock worth $42,996,000 after buying an additional 663,529 shares during the last quarter. Jane Street Group LLC boosted its holdings in shares of DiamondRock Hospitality by 73.0% in the 3rd quarter. Jane Street Group LLC now owns 302,757 shares of the real estate investment trust’s stock worth $2,643,000 after acquiring an additional 127,717 shares in the last quarter. Geode Capital Management LLC grew its position in DiamondRock Hospitality by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 5,350,283 shares of the real estate investment trust’s stock worth $46,716,000 after acquiring an additional 28,391 shares during the last quarter. Cbre Investment Management Listed Real Assets LLC acquired a new stake in DiamondRock Hospitality during the 4th quarter valued at $14,889,000. Finally, Barclays PLC raised its position in DiamondRock Hospitality by 37.6% in the 3rd quarter. Barclays PLC now owns 368,616 shares of the real estate investment trust’s stock valued at $3,219,000 after purchasing an additional 100,805 shares during the last quarter.

DiamondRock Hospitality Stock Performance

Shares of DiamondRock Hospitality stock opened at $8.04 on Thursday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.73 and a current ratio of 1.73. DiamondRock Hospitality has a 52 week low of $7.69 and a 52 week high of $10.00. The firm has a fifty day moving average of $8.52 and a two-hundred day moving average of $8.84. The stock has a market capitalization of $1.67 billion, a price-to-earnings ratio of 28.70, a PEG ratio of 2.06 and a beta of 1.63.

DiamondRock Hospitality Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be given a dividend of $0.08 per share. This is a positive change from DiamondRock Hospitality’s previous quarterly dividend of $0.03. This represents a $0.32 annualized dividend and a dividend yield of 3.98%. The ex-dividend date is Friday, March 28th. DiamondRock Hospitality’s payout ratio is presently 188.24%.

Analyst Ratings Changes

DRH has been the topic of several research analyst reports. Stifel Nicolaus cut DiamondRock Hospitality from a “buy” rating to a “hold” rating and decreased their target price for the stock from $10.75 to $10.25 in a report on Friday, November 22nd. Wells Fargo & Company decreased their price objective on shares of DiamondRock Hospitality from $10.50 to $9.50 and set an “equal weight” rating on the stock in a report on Tuesday, February 18th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, DiamondRock Hospitality presently has a consensus rating of “Hold” and a consensus price target of $10.05.

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.