State of New Jersey Common Pension Fund D Purchases 4,696 Shares of DiamondRock Hospitality (NYSE:DRH)

State of New Jersey Common Pension Fund D increased its position in DiamondRock Hospitality (NYSE:DRH) by 2.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 234,543 shares of the real estate investment trust’s stock after buying an additional 4,696 shares during the period. State of New Jersey Common Pension Fund D owned about 0.11% of DiamondRock Hospitality worth $2,118,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Wellington Management Group LLP boosted its holdings in DiamondRock Hospitality by 15.6% in the 3rd quarter. Wellington Management Group LLP now owns 4,925,093 shares of the real estate investment trust’s stock worth $42,996,000 after buying an additional 663,529 shares during the period. Jane Street Group LLC boosted its holdings in DiamondRock Hospitality by 73.0% in the 3rd quarter. Jane Street Group LLC now owns 302,757 shares of the real estate investment trust’s stock worth $2,643,000 after buying an additional 127,717 shares during the period. Geode Capital Management LLC boosted its holdings in shares of DiamondRock Hospitality by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 5,350,283 shares of the real estate investment trust’s stock valued at $46,716,000 after purchasing an additional 28,391 shares during the last quarter. Barclays PLC boosted its holdings in shares of DiamondRock Hospitality by 37.6% during the 3rd quarter. Barclays PLC now owns 368,616 shares of the real estate investment trust’s stock valued at $3,219,000 after purchasing an additional 100,805 shares during the last quarter. Finally, Choreo LLC boosted its holdings in shares of DiamondRock Hospitality by 55.1% during the 4th quarter. Choreo LLC now owns 15,553 shares of the real estate investment trust’s stock valued at $142,000 after purchasing an additional 5,523 shares during the last quarter.

DiamondRock Hospitality Stock Down 3.8 %

Shares of NYSE DRH opened at $8.22 on Friday. The firm’s 50-day moving average price is $8.90 and its 200-day moving average price is $8.86. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.66. The stock has a market capitalization of $1.71 billion, a price-to-earnings ratio of 29.34, a P/E/G ratio of 2.06 and a beta of 1.57. DiamondRock Hospitality has a 12-month low of $7.74 and a 12-month high of $10.00.

DiamondRock Hospitality Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 14th. Stockholders of record on Tuesday, December 31st were given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 15.58%. This is a boost from DiamondRock Hospitality’s previous quarterly dividend of $0.03. The ex-dividend date of this dividend was Tuesday, December 31st. DiamondRock Hospitality’s dividend payout ratio is currently 42.86%.

Analyst Ratings Changes

Several research analysts have commented on DRH shares. Stifel Nicolaus downgraded shares of DiamondRock Hospitality from a “buy” rating to a “hold” rating and dropped their price objective for the company from $10.75 to $10.25 in a report on Friday, November 22nd. Evercore ISI downgraded shares of DiamondRock Hospitality from an “outperform” rating to an “inline” rating and set a $10.50 price objective for the company. in a report on Friday, November 15th. Wells Fargo & Company dropped their price objective on shares of DiamondRock Hospitality from $10.50 to $9.50 and set an “equal weight” rating for the company in a report on Tuesday, February 18th. Finally, StockNews.com raised shares of DiamondRock Hospitality from a “sell” rating to a “hold” rating in a report on Tuesday, November 12th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $10.05.

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.