EntryPoint Capital LLC Buys New Position in DiamondRock Hospitality (NYSE:DRH)

EntryPoint Capital LLC purchased a new stake in DiamondRock Hospitality (NYSE:DRH) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 23,346 shares of the real estate investment trust’s stock, valued at approximately $211,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Smartleaf Asset Management LLC grew 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 in the last quarter. KBC Group NV boosted its holdings in 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 purchasing an additional 3,744 shares during the last quarter. Xponance Inc. grew its position in DiamondRock Hospitality by 9.9% in the 4th quarter. Xponance Inc. now owns 15,098 shares of the real estate investment trust’s stock worth $136,000 after purchasing an additional 1,360 shares in the last quarter. Choreo LLC increased its stake in DiamondRock Hospitality by 55.1% in the 4th quarter. Choreo LLC now owns 15,553 shares of the real estate investment trust’s stock valued at $142,000 after buying an additional 5,523 shares during the last quarter. Finally, Cibc World Markets Corp bought a new position in shares of DiamondRock Hospitality during the 4th quarter worth approximately $175,000.

Analysts Set New Price Targets

Separately, Wells Fargo & Company reduced their target price on DiamondRock Hospitality from $10.50 to $9.50 and set an “equal weight” rating for the company in a report on Tuesday, February 18th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $10.05.

DiamondRock Hospitality Stock Performance

NYSE DRH opened at $7.64 on Friday. 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 company has a market capitalization of $1.59 billion, a PE ratio of 27.30, a price-to-earnings-growth ratio of 2.06 and a beta of 1.63. DiamondRock Hospitality has a 52-week low of $7.54 and a 52-week high of $10.00. The company has a 50-day simple moving average of $8.38 and a 200 day simple moving average of $8.81.

DiamondRock Hospitality Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 4.19%. The ex-dividend date of this dividend is Friday, March 28th. This is a boost from DiamondRock Hospitality’s previous quarterly dividend of $0.03. DiamondRock Hospitality’s payout ratio 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.