Fisher Asset Management LLC Has $16.93 Million Stake in DiamondRock Hospitality (NYSE:DRH)

Fisher Asset Management LLC decreased its position in shares of DiamondRock Hospitality (NYSE:DRH) by 2.3% during the 4th quarter, HoldingsChannel reports. The fund owned 1,874,297 shares of the real estate investment trust’s stock after selling 44,347 shares during the period. Fisher Asset Management LLC’s holdings in DiamondRock Hospitality were worth $16,925,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Wellington Management Group LLP raised its position in DiamondRock Hospitality by 15.6% during 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 purchasing an additional 663,529 shares during the last quarter. Jane Street Group LLC raised its position in DiamondRock Hospitality by 73.0% during 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 purchasing an additional 127,717 shares during the last quarter. Geode Capital Management LLC raised its position in 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 worth $46,716,000 after purchasing an additional 28,391 shares during the last quarter. Barclays PLC raised its position in DiamondRock Hospitality by 37.6% during the 3rd quarter. Barclays PLC now owns 368,616 shares of the real estate investment trust’s stock worth $3,219,000 after purchasing an additional 100,805 shares during the last quarter. Finally, Choreo LLC raised its position in DiamondRock Hospitality by 55.1% during the 4th quarter. Choreo LLC now owns 15,553 shares of the real estate investment trust’s stock worth $142,000 after purchasing an additional 5,523 shares during the last quarter.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on DRH. StockNews.com raised DiamondRock Hospitality from a “sell” rating to a “hold” rating in a research report on Tuesday, November 12th. Wells Fargo & Company lowered their target price 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. Evercore ISI lowered DiamondRock Hospitality from an “outperform” rating to an “inline” rating and set a $10.50 target price for the company. in a research report on Friday, November 15th. Finally, Stifel Nicolaus lowered DiamondRock Hospitality from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $10.75 to $10.25 in a research report on Friday, November 22nd. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, DiamondRock Hospitality presently has a consensus rating of “Hold” and an average target price of $10.05.

DiamondRock Hospitality Stock Performance

DRH stock opened at $8.22 on Tuesday. The stock has a 50-day moving average price of $8.76 and a 200-day moving average price of $8.88. DiamondRock Hospitality has a 1-year low of $7.74 and a 1-year high of $10.00. 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 firm has a market cap of $1.71 billion, a PE ratio of 29.36, a price-to-earnings-growth ratio of 2.06 and a beta of 1.57.

DiamondRock Hospitality Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be given a $0.08 dividend. The ex-dividend date of this dividend is Friday, March 28th. This is a positive change from DiamondRock Hospitality’s previous quarterly dividend of $0.03. This represents a $0.32 annualized dividend and a dividend yield of 3.89%. DiamondRock Hospitality’s dividend payout ratio (DPR) is 188.24%.

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.