Everence Capital Management Inc. Has $148,000 Holdings in DiamondRock Hospitality (NYSE:DRH)

Everence Capital Management Inc. decreased its holdings in shares of DiamondRock Hospitality (NYSE:DRH) by 15.8% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 16,380 shares of the real estate investment trust’s stock after selling 3,070 shares during the quarter. Everence Capital Management Inc.’s holdings in DiamondRock Hospitality were worth $148,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of DRH. Rush Island Management LP acquired a new stake in shares of DiamondRock Hospitality during the third quarter worth approximately $51,726,000. Millennium Management LLC purchased a new stake in DiamondRock Hospitality in the 2nd quarter worth approximately $15,118,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of DiamondRock Hospitality by 326.6% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,235,728 shares of the real estate investment trust’s stock valued at $10,788,000 after buying an additional 946,073 shares during the period. Hotchkis & Wiley Capital Management LLC purchased a new position in shares of DiamondRock Hospitality during the 3rd quarter valued at $6,442,000. Finally, Wellington Management Group LLP increased its stake in shares of DiamondRock Hospitality by 15.6% in 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 acquiring an additional 663,529 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on DRH shares. Stifel Nicolaus lowered shares of DiamondRock Hospitality from a “buy” rating to a “hold” rating and dropped their price target for the stock from $10.75 to $10.25 in a research note on Friday, November 22nd. StockNews.com upgraded DiamondRock Hospitality from a “sell” rating to a “hold” rating in a report on Tuesday, November 12th. Evercore ISI lowered shares of DiamondRock Hospitality from an “outperform” rating to an “inline” rating and set a $10.50 target price on the stock. in a research report on Friday, November 15th. Finally, Wells Fargo & Company increased their price target on shares of DiamondRock Hospitality from $10.00 to $10.50 and gave the company an “equal weight” rating in a report on Monday, December 9th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, DiamondRock Hospitality presently has an average rating of “Hold” and a consensus target price of $10.38.

DiamondRock Hospitality Trading Down 0.2 %

Shares of DRH stock opened at $8.77 on Friday. DiamondRock Hospitality has a 52-week low of $7.74 and a 52-week high of $10.00. The stock has a market cap of $1.82 billion, a price-to-earnings ratio of 31.32, a P/E/G ratio of 5.65 and a beta of 1.59. The firm has a fifty day moving average of $9.22 and a 200-day moving average of $8.76. 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 Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 14th. Stockholders of record on Tuesday, December 31st will be issued a $0.32 dividend. This is a positive change from DiamondRock Hospitality’s previous quarterly dividend of $0.03. The ex-dividend date is Tuesday, December 31st. This represents a $1.28 annualized dividend and a dividend yield of 14.60%. DiamondRock Hospitality’s dividend payout ratio is presently 42.86%.

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.