Picton Mahoney Asset Management Has $572,000 Holdings in DiamondRock Hospitality (NYSE:DRH)

Picton Mahoney Asset Management boosted its holdings in DiamondRock Hospitality (NYSE:DRH) by 53.0% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 63,417 shares of the real estate investment trust’s stock after buying an additional 21,972 shares during the quarter. Picton Mahoney Asset Management’s holdings in DiamondRock Hospitality were worth $572,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the business. Vestcor Inc boosted its stake in DiamondRock Hospitality by 1,209.0% in the fourth quarter. Vestcor Inc now owns 204,479 shares of the real estate investment trust’s stock valued at $1,846,000 after buying an additional 188,858 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in DiamondRock Hospitality by 45.2% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 138,327 shares of the real estate investment trust’s stock valued at $1,249,000 after buying an additional 43,088 shares in the last quarter. AlphaQuest LLC acquired a new stake in DiamondRock Hospitality in the fourth quarter valued at about $789,000. Amundi boosted its stake in DiamondRock Hospitality by 44.0% in the fourth quarter. Amundi now owns 222,965 shares of the real estate investment trust’s stock valued at $1,960,000 after buying an additional 68,100 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in DiamondRock Hospitality in the fourth quarter valued at about $1,816,000.

DiamondRock Hospitality Price Performance

Shares of DRH opened at $7.91 on Friday. DiamondRock Hospitality has a 1 year low of $7.69 and a 1 year high of $10.00. 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 price-to-earnings-growth ratio of 2.06 and a beta of 1.63. The business has a 50-day moving average of $8.57 and a 200-day moving average of $8.85.

DiamondRock Hospitality Increases Dividend

The business also recently disclosed 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 represents a $0.32 dividend on an annualized basis and a dividend yield of 4.05%. This is an increase from DiamondRock Hospitality’s previous quarterly dividend of $0.03. The ex-dividend date is Friday, March 28th. DiamondRock Hospitality’s dividend payout ratio (DPR) is 188.24%.

Wall Street Analysts Forecast Growth

Several research firms have commented on DRH. Wells Fargo & Company dropped their target price 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. Stifel Nicolaus downgraded DiamondRock Hospitality from a “buy” rating to a “hold” rating and dropped their target price for the company 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 stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average 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.