Entropy Technologies LP Takes Position in DiamondRock Hospitality (NYSE:DRH)

Entropy Technologies LP purchased a new stake in shares of DiamondRock Hospitality (NYSE:DRH) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 94,910 shares of the real estate investment trust’s stock, valued at approximately $857,000.

Other institutional investors also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of DiamondRock Hospitality by 35.1% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,153 shares of the real estate investment trust’s stock valued at $73,000 after acquiring an additional 2,116 shares during the period. Harbor Capital Advisors Inc. purchased a new stake in DiamondRock Hospitality in the 3rd quarter worth about $74,000. KBC Group NV raised its position in DiamondRock Hospitality by 55.9% in the 4th quarter. KBC Group NV now owns 10,436 shares of the real estate investment trust’s stock worth $94,000 after purchasing an additional 3,744 shares during the period. SG Americas Securities LLC bought a new stake in DiamondRock Hospitality in the third quarter worth about $100,000. Finally, GSA Capital Partners LLP purchased a new position in shares of DiamondRock Hospitality during the third quarter valued at approximately $126,000.

DiamondRock Hospitality Price Performance

Shares of DRH stock opened at $8.63 on Wednesday. DiamondRock Hospitality has a twelve month low of $7.74 and a twelve month high of $10.00. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.66. The stock has a fifty day simple moving average of $9.10 and a two-hundred day simple moving average of $8.85. The stock has a market capitalization of $1.79 billion, a price-to-earnings ratio of 30.80, a P/E/G ratio of 4.88 and a beta of 1.57.

DiamondRock Hospitality Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 14th. Investors of record on Tuesday, December 31st were paid a $0.32 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This is a positive change from DiamondRock Hospitality’s previous quarterly dividend of $0.03. This represents a $1.28 dividend on an annualized basis and a yield of 14.84%. DiamondRock Hospitality’s dividend payout ratio is 42.86%.

Wall Street Analysts Forecast Growth

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

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.