DiamondRock Hospitality (NYSE:DRH) Stake Boosted by LPL Financial LLC

LPL Financial LLC increased its stake in DiamondRock Hospitality (NYSE:DRH) by 10.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 63,205 shares of the real estate investment trust’s stock after purchasing an additional 6,071 shares during the period. LPL Financial LLC’s holdings in DiamondRock Hospitality were worth $571,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in DRH. Fox Run Management L.L.C. acquired a new position in shares of DiamondRock Hospitality during the fourth quarter valued at $395,000. KLP Kapitalforvaltning AS bought a new stake in DiamondRock Hospitality in the 4th quarter valued at about $400,000. American Century Companies Inc. boosted its stake in DiamondRock Hospitality by 11.2% during the 4th quarter. American Century Companies Inc. now owns 53,029 shares of the real estate investment trust’s stock valued at $479,000 after purchasing an additional 5,337 shares during the period. Quantbot Technologies LP grew its position in DiamondRock Hospitality by 173.1% in the 4th quarter. Quantbot Technologies LP now owns 189,977 shares of the real estate investment trust’s stock worth $1,715,000 after purchasing an additional 120,423 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in shares of DiamondRock Hospitality by 36.8% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 111,112 shares of the real estate investment trust’s stock valued at $1,003,000 after purchasing an additional 29,866 shares during the period.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Stifel Nicolaus reduced their price objective on DiamondRock Hospitality from $9.75 to $8.00 and set a “hold” rating for the company in a research report on Wednesday, April 16th. Wells Fargo & Company cut their target price on DiamondRock Hospitality from $10.50 to $9.50 and set an “equal weight” rating on the stock in a research note on Tuesday, February 18th. Finally, Morgan Stanley decreased their price target on DiamondRock Hospitality from $9.00 to $7.00 and set an “equal weight” rating for the company in a research note on Tuesday. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, DiamondRock Hospitality currently has an average rating of “Hold” and a consensus price target of $9.17.

DiamondRock Hospitality Stock Performance

DRH opened at $7.07 on Thursday. The business has a 50 day moving average price of $7.70 and a two-hundred day moving average price of $8.57. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.73 and a quick ratio of 1.73. The company has a market capitalization of $1.48 billion, a price-to-earnings ratio of 25.25, a price-to-earnings-growth ratio of 2.06 and a beta of 1.38. DiamondRock Hospitality has a 1-year low of $6.19 and a 1-year high of $10.00.

DiamondRock Hospitality Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Friday, March 28th were issued a $0.08 dividend. This is a positive change from DiamondRock Hospitality’s previous quarterly dividend of $0.03. The ex-dividend date was Friday, March 28th. This represents a $0.32 annualized dividend and a dividend yield of 4.53%. DiamondRock Hospitality’s dividend payout ratio is 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.