DiamondRock Hospitality (NYSE:DRH) Shares Sold by Legal & General Group Plc

Legal & General Group Plc lowered its position in DiamondRock Hospitality (NYSE:DRH) by 8.0% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 1,297,094 shares of the real estate investment trust’s stock after selling 112,398 shares during the period. Legal & General Group Plc’s holdings in DiamondRock Hospitality were worth $11,713,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Smartleaf Asset Management LLC increased its holdings in DiamondRock Hospitality by 278.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 9,769 shares of the real estate investment trust’s stock valued at $89,000 after buying an additional 7,189 shares in the last quarter. KBC Group NV lifted its stake in shares of DiamondRock Hospitality by 55.9% during the 4th 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 period. Xponance Inc. boosted its holdings in shares of DiamondRock Hospitality by 9.9% during the fourth 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 during the last quarter. Choreo LLC grew its position in shares of DiamondRock Hospitality by 55.1% in the fourth quarter. Choreo LLC now owns 15,553 shares of the real estate investment trust’s stock valued at $142,000 after purchasing an additional 5,523 shares during the period. Finally, Landscape Capital Management L.L.C. acquired a new position in DiamondRock Hospitality in the fourth quarter valued at $147,000.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on DRH shares. 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. Stifel Nicolaus decreased their target price on DiamondRock Hospitality from $9.75 to $8.00 and set a “hold” rating for the company in a research report on Wednesday. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, DiamondRock Hospitality currently has an average rating of “Hold” and an average price target of $9.60.

DiamondRock Hospitality Stock Down 0.9 %

DRH stock opened at $6.85 on Thursday. The company has a market capitalization of $1.43 billion, a P/E ratio of 24.46, a PEG ratio of 2.06 and a beta of 1.38. The firm has a 50 day simple moving average of $7.86 and a 200-day simple moving average of $8.64. 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 has a twelve month low of $6.19 and a twelve month high of $10.00.

DiamondRock Hospitality Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Friday, March 28th were paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 4.67%. The ex-dividend date of this dividend was Friday, March 28th. This is a positive change from DiamondRock Hospitality’s previous quarterly dividend of $0.03. DiamondRock Hospitality’s dividend 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.