Rhumbline Advisers Has $6.12 Million Holdings in DiamondRock Hospitality (NYSE:DRH)

Rhumbline Advisers cut its stake in DiamondRock Hospitality (NYSE:DRH) by 0.3% in the fourth quarter, HoldingsChannel reports. The fund owned 677,717 shares of the real estate investment trust’s stock after selling 2,187 shares during the period. Rhumbline Advisers’ holdings in DiamondRock Hospitality were worth $6,120,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in DRH. Orion Portfolio Solutions LLC boosted its holdings in DiamondRock Hospitality by 1.6% during the third 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 during the last quarter. Vert Asset Management LLC increased its stake in DiamondRock Hospitality by 2.1% in the fourth quarter. Vert Asset Management LLC now owns 82,570 shares of the real estate investment trust’s stock valued at $746,000 after purchasing an additional 1,729 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in DiamondRock Hospitality by 35.1% in 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 purchasing an additional 2,116 shares during the period. Daiwa Securities Group Inc. boosted its position in shares of DiamondRock Hospitality by 3.9% during 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 in the last quarter. Finally, Van ECK Associates Corp boosted its position in shares of DiamondRock Hospitality by 8.4% during the fourth quarter. Van ECK Associates Corp now owns 39,187 shares of the real estate investment trust’s stock worth $354,000 after purchasing an additional 3,027 shares in the last quarter.

DiamondRock Hospitality Price Performance

DiamondRock Hospitality stock opened at $8.19 on Thursday. The stock has a market capitalization of $1.70 billion, a price-to-earnings ratio of 29.25, a PEG ratio of 2.06 and a beta of 1.57. DiamondRock Hospitality has a 52-week low of $7.74 and a 52-week high of $10.00. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.73 and a current ratio of 1.73. The stock’s 50 day moving average price is $8.84 and its two-hundred day moving average price is $8.87.

DiamondRock Hospitality Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 14th. Shareholders of record on Tuesday, December 31st were issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 15.63%. This is an increase from DiamondRock Hospitality’s previous quarterly dividend of $0.03. The ex-dividend date was Tuesday, December 31st. DiamondRock Hospitality’s payout ratio is currently 42.86%.

Analysts Set New Price Targets

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

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.