Y Intercept Hong Kong Ltd Takes $220,000 Position in DiamondRock Hospitality (NYSE:DRH)

Y Intercept Hong Kong Ltd bought a new position in shares of DiamondRock Hospitality (NYSE:DRH) in the 4th quarter, Holdings Channel reports. The fund bought 24,390 shares of the real estate investment trust’s stock, valued at approximately $220,000.

A number of other hedge funds have also added to or reduced their stakes in the business. Orion Portfolio Solutions LLC boosted its holdings in shares of DiamondRock Hospitality by 1.6% during the 3rd quarter. Orion Portfolio Solutions LLC now owns 104,965 shares of the real estate investment trust’s stock worth $916,000 after buying an additional 1,652 shares in the last quarter. Vert Asset Management LLC lifted its position in shares of DiamondRock Hospitality by 2.1% during the 4th quarter. Vert Asset Management LLC now owns 82,570 shares of the real estate investment trust’s stock valued at $746,000 after acquiring an additional 1,729 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its stake in DiamondRock Hospitality by 35.1% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,153 shares of the real estate investment trust’s stock worth $73,000 after acquiring an additional 2,116 shares in the last quarter. Daiwa Securities Group Inc. grew its holdings in DiamondRock Hospitality by 3.9% in the third quarter. Daiwa Securities Group Inc. now owns 68,728 shares of the real estate investment trust’s stock worth $600,000 after purchasing an additional 2,598 shares during the period. Finally, Van ECK Associates Corp increased its stake in DiamondRock Hospitality by 8.4% in the fourth quarter. Van ECK Associates Corp now owns 39,187 shares of the real estate investment trust’s stock valued at $354,000 after purchasing an additional 3,027 shares in the last quarter.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. StockNews.com raised shares of DiamondRock Hospitality from a “sell” rating to a “hold” rating in a research report on Tuesday, November 12th. Stifel Nicolaus lowered DiamondRock Hospitality from a “buy” rating to a “hold” rating and cut their price target for the stock from $10.75 to $10.25 in a report on Friday, November 22nd. Wells Fargo & Company reduced their price objective on DiamondRock Hospitality from $10.50 to $9.50 and set an “equal weight” rating for the company in a research note on Tuesday, February 18th. Finally, Evercore ISI lowered DiamondRock Hospitality from an “outperform” rating to an “inline” rating and set a $10.50 target price on the stock. in a research report on Friday, November 15th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, DiamondRock Hospitality currently has an average rating of “Hold” and an average target price of $10.05.

DiamondRock Hospitality Trading Down 1.5 %

Shares of DiamondRock Hospitality stock opened at $8.11 on Wednesday. The company has a market capitalization of $1.68 billion, a P/E ratio of 28.95, a price-to-earnings-growth ratio of 2.06 and a beta of 1.57. The stock has a fifty day simple moving average of $8.73 and a 200 day simple moving average of $8.88. DiamondRock Hospitality has a 12-month low of $7.74 and a 12-month 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.

DiamondRock Hospitality Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be issued a $0.08 dividend. The ex-dividend date is Friday, March 28th. This represents a $0.32 annualized dividend and a dividend yield of 3.95%. This is an increase from DiamondRock Hospitality’s previous quarterly dividend of $0.03. DiamondRock Hospitality’s dividend payout ratio is currently 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.