DiamondRock Hospitality (NYSE:DRH) Position Decreased by Great Lakes Advisors LLC

Great Lakes Advisors LLC decreased its holdings in shares of DiamondRock Hospitality (NYSE:DRH) by 13.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 423,188 shares of the real estate investment trust’s stock after selling 67,825 shares during the period. Great Lakes Advisors LLC owned approximately 0.20% of DiamondRock Hospitality worth $3,821,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the business. State Street Corp boosted its position in shares of DiamondRock Hospitality by 1.8% during the 3rd quarter. State Street Corp now owns 12,535,384 shares of the real estate investment trust’s stock valued at $109,806,000 after purchasing an additional 221,219 shares in the last quarter. Pzena Investment Management LLC boosted its position in shares of DiamondRock Hospitality by 3.6% during the 3rd quarter. Pzena Investment Management LLC now owns 9,153,018 shares of the real estate investment trust’s stock valued at $79,906,000 after purchasing an additional 317,901 shares in the last quarter. Rush Island Management LP bought a new position in shares of DiamondRock Hospitality during the 3rd quarter valued at about $51,726,000. Geode Capital Management LLC boosted its position in shares of 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 valued at $46,716,000 after purchasing an additional 28,391 shares in the last quarter. Finally, Wellington Management Group LLP boosted its position in shares of DiamondRock Hospitality by 15.6% during the 3rd quarter. Wellington Management Group LLP now owns 4,925,093 shares of the real estate investment trust’s stock valued at $42,996,000 after purchasing an additional 663,529 shares in the last quarter.

DiamondRock Hospitality Price Performance

Shares of DRH opened at $7.91 on Friday. 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 has a market capitalization of $1.64 billion, a price-to-earnings ratio of 28.23, a P/E/G ratio of 2.06 and a beta of 1.63. The business’s 50-day moving average is $8.57 and its 200-day moving average is $8.85. DiamondRock Hospitality has a fifty-two week low of $7.69 and a fifty-two week high of $10.00.

DiamondRock Hospitality Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be given a $0.08 dividend. This is an increase from DiamondRock Hospitality’s previous quarterly dividend of $0.03. The ex-dividend date of this dividend is Friday, March 28th. This represents a $0.32 dividend on an annualized basis and a yield of 4.05%. DiamondRock Hospitality’s dividend payout ratio is presently 188.24%.

Analysts Set New Price Targets

DRH has been the subject of several research reports. Wells Fargo & Company reduced their price objective on shares of 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. Evercore ISI downgraded shares of DiamondRock Hospitality from an “outperform” rating to an “inline” rating and set a $10.50 price target for the company. in a research report on Friday, November 15th. Finally, Stifel Nicolaus cut shares of DiamondRock Hospitality from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $10.75 to $10.25 in a research report on Friday, November 22nd. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, DiamondRock Hospitality currently has a consensus rating of “Hold” and a consensus price target of $10.05.

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.