Thrivent Financial for Lutherans Sells 6,963 Shares of DiamondRock Hospitality (NYSE:DRH)

Thrivent Financial for Lutherans reduced its holdings in shares of DiamondRock Hospitality (NYSE:DRH) by 1.8% in the 4th quarter, Holdings Channel.com reports. The fund owned 373,455 shares of the real estate investment trust’s stock after selling 6,963 shares during the period. Thrivent Financial for Lutherans’ holdings in DiamondRock Hospitality were worth $3,372,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Smartleaf Asset Management LLC boosted its holdings in DiamondRock Hospitality by 278.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 9,769 shares of the real estate investment trust’s stock worth $89,000 after purchasing an additional 7,189 shares during the last quarter. KBC Group NV lifted its position in DiamondRock Hospitality by 55.9% during the 4th quarter. KBC Group NV now owns 10,436 shares of the real estate investment trust’s stock worth $94,000 after buying an additional 3,744 shares in the last quarter. Choreo LLC lifted its position in DiamondRock Hospitality by 55.1% during the 4th quarter. Choreo LLC now owns 15,553 shares of the real estate investment trust’s stock worth $142,000 after buying an additional 5,523 shares in the last quarter. Cibc World Markets Corp acquired a new position in shares of DiamondRock Hospitality during the 4th quarter worth about $175,000. Finally, Metis Global Partners LLC grew its holdings in shares of DiamondRock Hospitality by 11.4% in the 4th quarter. Metis Global Partners LLC now owns 23,773 shares of the real estate investment trust’s stock valued at $215,000 after acquiring an additional 2,427 shares in the last quarter.

Wall Street Analyst Weigh In

Separately, Wells Fargo & Company reduced their price target on DiamondRock Hospitality from $10.50 to $9.50 and set an “equal weight” rating for the company in a research report on Tuesday, February 18th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $10.05.

DiamondRock Hospitality Stock Down 0.2 %

DiamondRock Hospitality stock opened at $7.89 on Thursday. 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 company’s 50-day moving average is $8.43 and its 200-day moving average is $8.82. The firm has a market capitalization of $1.64 billion, a PE ratio of 28.16, a P/E/G ratio of 2.06 and a beta of 1.63. DiamondRock Hospitality has a fifty-two week low of $7.65 and a fifty-two week high of $10.00.

DiamondRock Hospitality Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 4.06%. The ex-dividend date is Friday, March 28th. This is an increase from DiamondRock Hospitality’s previous quarterly dividend of $0.03. DiamondRock Hospitality’s payout ratio is 188.24%.

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.