Mitsubishi UFJ Trust & Banking Corp Makes New Investment in DiamondRock Hospitality (NYSE:DRH)

Mitsubishi UFJ Trust & Banking Corp purchased a new stake in DiamondRock Hospitality (NYSE:DRH) during the fourth quarter, Holdings Channel reports. The institutional investor purchased 41,091 shares of the real estate investment trust’s stock, valued at approximately $371,000.

Several other hedge funds and other institutional investors have also made changes to their positions in DRH. Wellington Management Group LLP grew its stake in shares of DiamondRock Hospitality by 15.6% during the third 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 in the last quarter. Jane Street Group LLC increased its holdings in shares of 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 valued at $2,643,000 after acquiring an additional 127,717 shares during the last quarter. Geode Capital Management LLC raised its position 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 worth $46,716,000 after acquiring an additional 28,391 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in DiamondRock Hospitality by 45.2% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 138,327 shares of the real estate investment trust’s stock worth $1,249,000 after purchasing an additional 43,088 shares during the last quarter. Finally, Cbre Investment Management Listed Real Assets LLC acquired a new position in DiamondRock Hospitality in the fourth quarter valued at approximately $14,889,000.

Analyst Ratings Changes

Separately, Wells Fargo & Company cut their price objective on shares of DiamondRock Hospitality from $10.50 to $9.50 and set an “equal weight” rating on the stock in a report on Tuesday, February 18th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $10.05.

DiamondRock Hospitality Trading Up 2.3 %

NYSE:DRH opened at $7.89 on Thursday. The company has a market capitalization of $1.64 billion, a PE ratio of 28.18, a P/E/G 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 stock’s 50 day moving average price is $8.31 and its 200 day moving average price is $8.80. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.66.

DiamondRock Hospitality Increases Dividend

The firm 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. This represents a $0.32 dividend on an annualized basis and a dividend yield of 4.06%. This is a boost from DiamondRock Hospitality’s previous quarterly dividend of $0.03. The ex-dividend date is Friday, March 28th. DiamondRock Hospitality’s payout ratio is presently 188.24%.

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.