M&T Bank Corp Decreases Stock Holdings in DiamondRock Hospitality (NYSE:DRH)

M&T Bank Corp trimmed its stake in shares of DiamondRock Hospitality (NYSE:DRHFree Report) by 7.4% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 18,945 shares of the real estate investment trust’s stock after selling 1,524 shares during the period. M&T Bank Corp’s holdings in DiamondRock Hospitality were worth $152,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in shares of DiamondRock Hospitality by 3.2% during the third quarter. Vanguard Group Inc. now owns 36,970,154 shares of the real estate investment trust’s stock valued at $277,647,000 after purchasing an additional 1,162,193 shares during the last quarter. State Street Corp increased its holdings in DiamondRock Hospitality by 0.5% during the second quarter. State Street Corp now owns 13,603,078 shares of the real estate investment trust’s stock valued at $111,681,000 after buying an additional 64,600 shares during the last quarter. Pzena Investment Management LLC increased its holdings in DiamondRock Hospitality by 45.0% during the second quarter. Pzena Investment Management LLC now owns 8,909,183 shares of the real estate investment trust’s stock valued at $71,363,000 after buying an additional 2,766,782 shares during the last quarter. Macquarie Group Ltd. increased its holdings in DiamondRock Hospitality by 2.1% during the first quarter. Macquarie Group Ltd. now owns 6,878,975 shares of the real estate investment trust’s stock valued at $55,926,000 after buying an additional 140,057 shares during the last quarter. Finally, Centersquare Investment Management LLC increased its holdings in DiamondRock Hospitality by 166.0% during the second quarter. Centersquare Investment Management LLC now owns 6,699,705 shares of the real estate investment trust’s stock valued at $53,665,000 after buying an additional 4,181,147 shares during the last quarter.

DiamondRock Hospitality Stock Performance

Shares of NYSE DRH opened at $9.14 on Thursday. The firm has a fifty day moving average price of $9.11 and a 200-day moving average price of $8.40. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.82 and a quick ratio of 1.82. The stock has a market cap of $1.92 billion, a PE ratio of 23.44 and a beta of 1.62. DiamondRock Hospitality has a 1 year low of $7.14 and a 1 year high of $10.02.

DiamondRock Hospitality Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 11th. Stockholders of record on Friday, December 29th were paid a $0.03 dividend. The ex-dividend date of this dividend was Thursday, December 28th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.31%. DiamondRock Hospitality’s dividend payout ratio (DPR) is presently 30.77%.

Wall Street Analyst Weigh In

A number of analysts have commented on DRH shares. StockNews.com raised shares of DiamondRock Hospitality from a “sell” rating to a “hold” rating in a report on Friday, January 26th. Wolfe Research started coverage on shares of DiamondRock Hospitality in a report on Wednesday, January 10th. They set an “outperform” rating and a $11.00 target price for the company. Morgan Stanley upped their target price on shares of DiamondRock Hospitality from $8.50 to $9.00 and gave the company an “equal weight” rating in a report on Tuesday, November 7th. Finally, Wells Fargo & Company upped their target price on shares of DiamondRock Hospitality from $9.00 to $10.00 and gave the company an “equal weight” rating in a report on Friday, December 22nd. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $9.83.

Read Our Latest Research Report on DRH

About DiamondRock Hospitality

(Free Report)

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.

See Also

Institutional Ownership by Quarter for DiamondRock Hospitality (NYSE:DRH)

Receive News & Ratings for DiamondRock Hospitality Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for DiamondRock Hospitality and related companies with MarketBeat.com's FREE daily email newsletter.