Lazard Asset Management LLC Has $54,000 Position in DiamondRock Hospitality (NYSE:DRH)

Lazard Asset Management LLC increased its position in shares of DiamondRock Hospitality (NYSE:DRH – Get Rating) by 148.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,302 shares of the real estate investment trust’s stock after acquiring an additional 4,359 shares during the quarter. Lazard Asset Management LLC’s holdings in DiamondRock Hospitality were worth $54,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the company. Prudential Financial Inc. increased its holdings in shares of DiamondRock Hospitality by 273.4% in the third quarter. Prudential Financial Inc. now owns 3,008,457 shares of the real estate investment trust’s stock worth $22,593,000 after acquiring an additional 2,202,775 shares in the last quarter. State Street Corp boosted its position in DiamondRock Hospitality by 12.9% during the first quarter. State Street Corp now owns 13,538,478 shares of the real estate investment trust’s stock valued at $136,739,000 after purchasing an additional 1,548,369 shares during the last quarter. Mesirow Institutional Investment Management Inc. acquired a new position in DiamondRock Hospitality during the third quarter valued at approximately $9,282,000. FMR LLC boosted its position in DiamondRock Hospitality by 7.8% during the second quarter. FMR LLC now owns 13,319,480 shares of the real estate investment trust’s stock valued at $109,353,000 after purchasing an additional 958,454 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its position in shares of DiamondRock Hospitality by 8.2% in the second quarter. Principal Financial Group Inc. now owns 11,318,923 shares of the real estate investment trust’s stock valued at $92,928,000 after buying an additional 853,334 shares during the last quarter.

DiamondRock Hospitality Price Performance

Shares of DRH opened at $8.71 on Wednesday. The company has a market capitalization of $1.83 billion, a P/E ratio of 18.93 and a beta of 1.66. The company has a quick ratio of 1.70, a current ratio of 1.70 and a debt-to-equity ratio of 0.74. The firm has a 50 day moving average of $8.89 and a 200 day moving average of $8.76. DiamondRock Hospitality has a twelve month low of $7.18 and a twelve month high of $11.15.

DiamondRock Hospitality Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 12th. Shareholders of record on Friday, March 31st will be given a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 1.38%. The ex-dividend date of this dividend is Thursday, March 30th. DiamondRock Hospitality’s dividend payout ratio (DPR) is presently 26.09%.

Analyst Ratings Changes

DRH has been the topic of a number of recent research reports. Compass Point lowered their target price on DiamondRock Hospitality to $11.00 in a research note on Tuesday, November 15th. Wells Fargo & Company lifted their price target on DiamondRock Hospitality from $10.00 to $10.50 and gave the company an “equal weight” rating in a research note on Thursday, February 2nd. Morgan Stanley raised their price objective on DiamondRock Hospitality from $9.00 to $9.50 and gave the company an “equal weight” rating in a report on Tuesday, February 7th. Finally, Deutsche Bank Aktiengesellschaft cut their target price on DiamondRock Hospitality from $12.00 to $11.00 in a report on Wednesday, February 22nd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $10.50.

About DiamondRock Hospitality

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DiamondRock Hospitality Co is a real estate investment trust which focuses on lodging properties. It engages in the acquisition, ownership, asset management, and renovation of hotels and resorts. Its brands include Autograph Collection Hotels, Courtyard Marriott, Hilton Garden Inn, Hilton Hotels & Resorts, JW Marriott, and Kimpton Hotels & Restaurants.