Inceptionr LLC Trims Stock Position in DiamondRock Hospitality (NYSE:DRH)

Inceptionr LLC lessened its position in shares of DiamondRock Hospitality (NYSE:DRH) by 12.2% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 10,485 shares of the real estate investment trust’s stock after selling 1,457 shares during the quarter. Inceptionr LLC’s holdings in DiamondRock Hospitality were worth $95,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Raymond James Financial Inc. purchased a new stake in shares of DiamondRock Hospitality during the 4th quarter valued at approximately $1,816,000. Cbre Investment Management Listed Real Assets LLC purchased a new stake in shares of DiamondRock Hospitality during the 4th quarter valued at approximately $14,889,000. Carrera Capital Advisors purchased a new stake in shares of DiamondRock Hospitality during the 4th quarter valued at approximately $1,875,000. Charles Schwab Investment Management Inc. increased its holdings in DiamondRock Hospitality by 1.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,557,580 shares of the real estate investment trust’s stock valued at $41,155,000 after purchasing an additional 81,916 shares during the last quarter. Finally, Bailard Inc. acquired a new stake in DiamondRock Hospitality in the 4th quarter valued at approximately $736,000.

DiamondRock Hospitality Stock Performance

NYSE:DRH opened at $8.35 on Tuesday. The company has a fifty day simple moving average of $8.66 and a two-hundred day simple moving average of $8.88. The company has a market cap of $1.74 billion, a price-to-earnings ratio of 29.80, a price-to-earnings-growth ratio of 2.06 and a beta of 1.63. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.66. DiamondRock Hospitality has a 52 week low of $7.74 and a 52 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 paid 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 annualized dividend and a dividend yield of 3.83%. DiamondRock Hospitality’s payout ratio is 188.24%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Stifel Nicolaus downgraded shares of 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 report on Friday, November 22nd. Evercore ISI downgraded shares of DiamondRock Hospitality from an “outperform” rating to an “inline” rating and set a $10.50 target price for the company. in a report on Friday, November 15th. Wells Fargo & Company dropped their target price on shares of DiamondRock Hospitality from $10.50 to $9.50 and set an “equal weight” rating for the company in a report on Tuesday, February 18th. Finally, StockNews.com upgraded shares of DiamondRock Hospitality from a “sell” rating to a “hold” rating in a report on Tuesday, November 12th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, DiamondRock Hospitality currently has a consensus rating of “Hold” and an average price target of $10.05.

DiamondRock Hospitality 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.