DiamondRock Hospitality (NYSE:DRH) Shares Purchased by Deutsche Bank AG

Deutsche Bank AG boosted its stake in DiamondRock Hospitality (NYSE:DRH) by 24.8% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 275,483 shares of the real estate investment trust’s stock after purchasing an additional 54,794 shares during the period. Deutsche Bank AG owned about 0.13% of DiamondRock Hospitality worth $2,488,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Cubist Systematic Strategies LLC purchased a new position in DiamondRock Hospitality in the 4th quarter valued at approximately $163,000. Brevan Howard Capital Management LP purchased a new position in DiamondRock Hospitality in the 4th quarter valued at approximately $300,000. Caxton Associates LP purchased a new position in DiamondRock Hospitality in the 4th quarter valued at approximately $92,000. Bank of America Corp DE lifted its position in shares of DiamondRock Hospitality by 78.8% during the 4th quarter. Bank of America Corp DE now owns 6,953,022 shares of the real estate investment trust’s stock worth $62,786,000 after purchasing an additional 3,064,117 shares during the last quarter. Finally, BNP Paribas Financial Markets lifted its position in shares of DiamondRock Hospitality by 6.5% during the 4th quarter. BNP Paribas Financial Markets now owns 69,847 shares of the real estate investment trust’s stock worth $631,000 after purchasing an additional 4,272 shares during the last quarter.

DiamondRock Hospitality Trading Down 2.0%

NYSE DRH opened at $7.47 on Thursday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.73 and a current ratio of 1.73. The firm has a market cap of $1.54 billion, a PE ratio of 26.67, a P/E/G ratio of 2.06 and a beta of 1.33. DiamondRock Hospitality has a one year low of $6.19 and a one year high of $10.00. The firm’s fifty day moving average is $7.43 and its two-hundred day moving average is $8.39.

DiamondRock Hospitality (NYSE:DRH) last posted its quarterly earnings data on Thursday, May 1st. The real estate investment trust reported $0.19 EPS for the quarter, beating analysts’ consensus estimates of $0.17 by $0.02. The company had revenue of $254.85 million for the quarter, compared to analyst estimates of $256.47 million. DiamondRock Hospitality had a net margin of 6.30% and a return on equity of 4.25%. DiamondRock Hospitality’s quarterly revenue was up .5% on a year-over-year basis. During the same period in the previous year, the business posted $0.17 earnings per share. Analysts expect that DiamondRock Hospitality will post 0.96 earnings per share for the current year.

DiamondRock Hospitality Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Friday, March 28th were paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 4.29%. This is a positive change from DiamondRock Hospitality’s previous quarterly dividend of $0.03. The ex-dividend date of this dividend was Friday, March 28th. DiamondRock Hospitality’s payout ratio is 177.78%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on DRH shares. Evercore ISI decreased their price objective on shares of DiamondRock Hospitality from $10.00 to $9.00 and set an “in-line” rating for the company in a research report on Monday, April 28th. Bank of America raised shares of DiamondRock Hospitality from an “underperform” rating to a “buy” rating and set a $9.50 price objective for the company in a research report on Wednesday, April 30th. Morgan Stanley reduced their price target on shares of DiamondRock Hospitality from $9.00 to $7.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 22nd. Stifel Nicolaus boosted their price target on shares of DiamondRock Hospitality from $8.00 to $8.25 and gave the company a “hold” rating in a research report on Friday, May 2nd. Finally, Wells Fargo & Company reduced 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. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, DiamondRock Hospitality presently has an average rating of “Hold” and a consensus target price of $9.04.

DiamondRock Hospitality 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.