Russell Investments Group Ltd. lifted its position in shares of DiamondRock Hospitality (NYSE:DRH – Get Rating) by 3.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 562,558 shares of the real estate investment trust’s stock after buying an additional 16,671 shares during the period. Russell Investments Group Ltd. owned about 0.27% of DiamondRock Hospitality worth $4,607,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently modified their holdings of the company. US Asset Management LLC acquired a new position in shares of DiamondRock Hospitality during the fourth quarter worth about $39,000. Lazard Asset Management LLC raised its holdings in DiamondRock Hospitality by 148.1% during the third quarter. Lazard Asset Management LLC now owns 7,302 shares of the real estate investment trust’s stock worth $54,000 after acquiring an additional 4,359 shares in the last quarter. OLD Mission Capital LLC bought a new stake in DiamondRock Hospitality during the third quarter worth about $77,000. Fox Run Management L.L.C. bought a new stake in DiamondRock Hospitality during the third quarter worth about $84,000. Finally, Creative Planning bought a new stake in DiamondRock Hospitality during the third quarter worth about $84,000.
Analyst Upgrades and Downgrades
Several analysts recently issued reports on DRH shares. Morgan Stanley upped their target price on DiamondRock Hospitality from $9.00 to $9.50 and gave the stock an “equal weight” rating in a report on Tuesday, February 7th. Deutsche Bank Aktiengesellschaft dropped their target price on DiamondRock Hospitality from $12.00 to $11.00 in a report on Wednesday, February 22nd. Citigroup dropped their target price on DiamondRock Hospitality from $10.00 to $8.00 and set a “neutral” rating on the stock in a report on Monday, March 27th. Wells Fargo & Company upgraded DiamondRock Hospitality from an “equal weight” rating to an “overweight” rating and dropped their price objective for the company from $10.50 to $9.00 in a research note on Thursday, March 30th. Finally, StockNews.com lowered DiamondRock Hospitality from a “hold” rating to a “sell” rating in a research note on Monday, May 8th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $10.06.
DiamondRock Hospitality Price Performance
DiamondRock Hospitality Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Wednesday, April 12th. Stockholders of record on Friday, March 31st were paid a dividend of $0.03 per share. The ex-dividend date of this dividend was Thursday, March 30th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.49%. DiamondRock Hospitality’s dividend payout ratio (DPR) is currently 26.67%.
DiamondRock Hospitality Profile
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.
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