87,360 Shares in DiamondRock Hospitality (NYSE:DRH) Acquired by AlphaQuest LLC

AlphaQuest LLC acquired a new position in shares of DiamondRock Hospitality (NYSE:DRH) in the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 87,360 shares of the real estate investment trust’s stock, valued at approximately $789,000.

A number of other hedge funds have also recently made changes to their positions in the stock. Amundi boosted its position in shares of DiamondRock Hospitality by 44.0% during the 4th quarter. Amundi now owns 222,965 shares of the real estate investment trust’s stock worth $1,960,000 after purchasing an additional 68,100 shares during the period. Raymond James Financial Inc. purchased a new position in DiamondRock Hospitality in the 4th quarter valued at approximately $1,816,000. Cbre Investment Management Listed Real Assets LLC purchased a new position in DiamondRock Hospitality in the 4th quarter valued at approximately $14,889,000. Carrera Capital Advisors purchased a new position in DiamondRock Hospitality in the 4th quarter valued at approximately $1,875,000. Finally, Charles Schwab Investment Management Inc. boosted its position 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 buying an additional 81,916 shares during the period.

Analyst Upgrades and Downgrades

Several brokerages have commented on DRH. Wells Fargo & Company decreased their price target 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. Stifel Nicolaus cut shares of DiamondRock Hospitality from a “buy” rating to a “hold” rating and decreased their price target for the company from $10.75 to $10.25 in a research report on Friday, November 22nd. StockNews.com raised shares of DiamondRock Hospitality from a “sell” rating to a “hold” rating in a research report on Tuesday, November 12th. Finally, Evercore ISI cut 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. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $10.05.

DiamondRock Hospitality Price Performance

Shares of DRH opened at $7.91 on Wednesday. DiamondRock Hospitality has a twelve month low of $7.74 and a twelve month high of $10.00. The firm’s fifty day simple moving average is $8.64 and its 200-day simple moving average is $8.87. The firm has a market capitalization of $1.64 billion, a price-to-earnings ratio of 28.23, a PEG ratio of 2.06 and a beta of 1.63. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.66.

DiamondRock Hospitality Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 4.05%. This is a positive change from DiamondRock Hospitality’s previous quarterly dividend of $0.03. The ex-dividend date of this dividend is Friday, March 28th. DiamondRock Hospitality’s dividend payout ratio (DPR) is presently 188.24%.

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.