DiamondRock Hospitality Company (NYSE:DRH) Shares Acquired by Diversified Trust Co

Diversified Trust Co lifted its position in shares of DiamondRock Hospitality Company (NYSE:DRH) by 8.3% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 36,033 shares of the real estate investment trust’s stock after buying an additional 2,748 shares during the period. Diversified Trust Co’s holdings in DiamondRock Hospitality were worth $278,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Invesco Ltd. increased its holdings in shares of DiamondRock Hospitality by 3.9% during the 4th quarter. Invesco Ltd. now owns 8,651,539 shares of the real estate investment trust’s stock worth $78,123,000 after buying an additional 323,745 shares during the last quarter. Alyeska Investment Group L.P. increased its holdings in shares of DiamondRock Hospitality by 16.3% during the 4th quarter. Alyeska Investment Group L.P. now owns 8,576,077 shares of the real estate investment trust’s stock worth $77,442,000 after buying an additional 1,201,955 shares during the last quarter. Bank of America Corp DE increased its holdings in shares of DiamondRock Hospitality by 78.8% during the 4th quarter. Bank of America Corp DE now owns 6,953,022 shares of the real estate investment trust’s stock worth $62,786,000 after buying an additional 3,064,117 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of DiamondRock Hospitality by 18.7% during the 4th quarter. JPMorgan Chase & Co. now owns 5,716,469 shares of the real estate investment trust’s stock worth $51,620,000 after buying an additional 901,600 shares during the last quarter. Finally, Centersquare Investment Management LLC increased its holdings in shares of DiamondRock Hospitality by 18.8% during the 4th quarter. Centersquare Investment Management LLC now owns 5,283,922 shares of the real estate investment trust’s stock worth $47,714,000 after buying an additional 834,506 shares during the last quarter.

DiamondRock Hospitality Stock Performance

Shares of DRH stock opened at $7.87 on Wednesday. The company has a quick ratio of 1.62, a current ratio of 1.62 and a debt-to-equity ratio of 0.69. DiamondRock Hospitality Company has a 52 week low of $6.19 and a 52 week high of $10.00. The stock has a market capitalization of $1.62 billion, a PE ratio of 43.72, a P/E/G ratio of 1.92 and a beta of 1.34. The firm has a 50 day moving average of $7.59 and a two-hundred day moving average of $8.06.

DiamondRock Hospitality (NYSE:DRH) last issued its quarterly earnings results on Thursday, May 1st. The real estate investment trust reported $0.19 EPS for the quarter, beating the consensus estimate of $0.17 by $0.02. DiamondRock Hospitality had a net margin of 4.57% and a return on equity of 3.18%. The company had revenue of $254.85 million during the quarter, compared to analysts’ expectations of $256.47 million. During the same quarter last year, the company posted $0.17 EPS. The firm’s revenue was up .5% compared to the same quarter last year. On average, research analysts predict that DiamondRock Hospitality Company will post 0.96 EPS for the current fiscal year.

DiamondRock Hospitality Cuts Dividend

The firm also recently declared a dividend, which will be paid on Friday, July 11th. Shareholders of record on Tuesday, July 1st will be given a $0.08 dividend. The ex-dividend date is Monday, June 30th. This represents a yield of 4.2%. DiamondRock Hospitality’s dividend payout ratio is presently 177.78%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on DRH. Evercore ISI cut their price target on shares of DiamondRock Hospitality from $10.00 to $9.00 and set an “in-line” rating for the company in a report on Monday, April 28th. Stifel Nicolaus lifted their target price on shares of DiamondRock Hospitality from $8.00 to $8.25 and gave the company a “hold” rating in a report on Friday, May 2nd. Bank of America upgraded shares of DiamondRock Hospitality from an “underperform” rating to a “buy” rating and set a $9.50 target price for the company in a report on Wednesday, April 30th. Morgan Stanley dropped their target price on shares of DiamondRock Hospitality from $9.00 to $7.00 and set an “equal weight” rating for the company in a report on Tuesday, April 22nd. Finally, Wells Fargo & Company lifted their target price on shares of DiamondRock Hospitality from $7.75 to $8.25 and gave the company an “equal weight” rating in a report on Tuesday. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $8.71.

About DiamondRock Hospitality

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.