DiamondRock Hospitality (NYSE:DRH) Shares Acquired by MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in DiamondRock Hospitality (NYSE:DRH) by 2.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 117,701 shares of the real estate investment trust’s stock after purchasing an additional 2,501 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned about 0.06% of DiamondRock Hospitality worth $1,063,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of DRH. FIL Ltd purchased a new stake in shares of DiamondRock Hospitality during the fourth quarter worth approximately $60,000. Smartleaf Asset Management LLC lifted its stake in shares of DiamondRock Hospitality by 278.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 9,769 shares of the real estate investment trust’s stock worth $89,000 after acquiring an additional 7,189 shares during the period. Caxton Associates LP purchased a new stake in shares of DiamondRock Hospitality in the fourth quarter valued at about $92,000. KBC Group NV increased its stake in shares of DiamondRock Hospitality by 55.9% during the fourth quarter. KBC Group NV now owns 10,436 shares of the real estate investment trust’s stock worth $94,000 after acquiring an additional 3,744 shares during the period. Finally, Dark Forest Capital Management LP purchased a new position in DiamondRock Hospitality during the fourth quarter worth about $117,000.

DiamondRock Hospitality Price Performance

DiamondRock Hospitality stock opened at $7.43 on Monday. The firm has a market capitalization of $1.53 billion, a PE ratio of 26.52, a P/E/G ratio of 2.06 and a beta of 1.33. DiamondRock Hospitality has a 52 week low of $6.19 and a 52 week high of $10.00. The firm’s 50-day simple moving average is $7.41 and its 200 day simple moving average is $8.36. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.66.

DiamondRock Hospitality (NYSE:DRH) last announced its earnings results on Thursday, May 1st. The real estate investment trust reported $0.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.17 by $0.02. DiamondRock Hospitality had a net margin of 6.30% and a return on equity of 4.25%. The company had revenue of $254.85 million during the quarter, compared to analysts’ expectations of $256.47 million. During the same quarter in the previous year, the business posted $0.17 earnings per share. The firm’s quarterly revenue was up .5% compared to the same quarter last year. On average, equities research analysts predict that DiamondRock Hospitality will post 0.96 EPS for the current fiscal year.

DiamondRock Hospitality Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Friday, March 28th were given a dividend of $0.08 per share. This is an increase from DiamondRock Hospitality’s previous quarterly dividend of $0.03. The ex-dividend date of this dividend was Friday, March 28th. This represents a $0.32 annualized dividend and a yield of 4.31%. DiamondRock Hospitality’s dividend payout ratio (DPR) is presently 177.78%.

Wall Street Analyst Weigh In

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

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.