DiamondRock Hospitality (NYSE:DRH) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. lessened its stake in shares of DiamondRock Hospitality (NYSE:DRHGet Rating) by 16.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,204,329 shares of the real estate investment trust’s stock after selling 651,399 shares during the quarter. Victory Capital Management Inc. owned about 1.52% of DiamondRock Hospitality worth $24,064,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of DRH. Bank of New York Mellon Corp raised its position in DiamondRock Hospitality by 0.7% during the 1st quarter. Bank of New York Mellon Corp now owns 2,259,645 shares of the real estate investment trust’s stock worth $22,823,000 after buying an additional 16,663 shares during the last quarter. PNC Financial Services Group Inc. lifted its position in DiamondRock Hospitality by 9.4% in the first quarter. PNC Financial Services Group Inc. now owns 13,193 shares of the real estate investment trust’s stock valued at $133,000 after purchasing an additional 1,130 shares during the period. Natixis Advisors L.P. purchased a new stake in DiamondRock Hospitality in the 1st quarter valued at approximately $401,000. Bank of Montreal Can increased its position in DiamondRock Hospitality by 3.4% during the 1st quarter. Bank of Montreal Can now owns 85,133 shares of the real estate investment trust’s stock worth $884,000 after purchasing an additional 2,777 shares during the period. Finally, MetLife Investment Management LLC increased its position in DiamondRock Hospitality by 68.5% during the 1st quarter. MetLife Investment Management LLC now owns 107,107 shares of the real estate investment trust’s stock worth $1,082,000 after purchasing an additional 43,548 shares during the period.

DiamondRock Hospitality Stock Performance

NYSE:DRH opened at $9.06 on Tuesday. The company has a current ratio of 3.29, a quick ratio of 3.29 and a debt-to-equity ratio of 0.85. The firm has a 50-day moving average price of $8.67 and a two-hundred day moving average price of $8.73. DiamondRock Hospitality has a twelve month low of $7.18 and a twelve month high of $11.15. The company has a market capitalization of $1.91 billion, a P/E ratio of 25.17 and a beta of 1.63.

DiamondRock Hospitality Announces Dividend

The firm also recently announced a None dividend, which was paid on Thursday, January 12th. Shareholders of record on Friday, December 30th were issued a dividend of $0.06 per share. The ex-dividend date of this dividend was Thursday, December 29th. This represents a yield of 1.3%. DiamondRock Hospitality’s dividend payout ratio (DPR) is currently 33.33%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the company. Evercore ISI upgraded DiamondRock Hospitality from an “in-line” rating to an “outperform” rating in a research note on Tuesday, October 18th. Compass Point cut their price target on shares of DiamondRock Hospitality to $11.00 in a report on Tuesday, November 15th. Morgan Stanley lowered their target price on shares of DiamondRock Hospitality from $10.00 to $9.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 18th. Finally, StockNews.com assumed coverage on DiamondRock Hospitality in a research report on Wednesday, October 12th. They set a “hold” rating on the stock. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $10.50.

DiamondRock Hospitality Profile

(Get Rating)

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 top gateway markets and destination resort locations. The Company owns 31 premium quality hotels with over 10,000 rooms. The Company has strategically positioned its hotels to be operated both under leading global brand families as well as unique boutique hotels in the lifestyle segment.

Further Reading

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Institutional Ownership by Quarter for DiamondRock Hospitality (NYSE:DRH)

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