Redmond Asset Management LLC raised its stake in Diamondrock Hospitality Company (NYSE:DRH) by 4.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 121,729 shares of the real estate investment trust’s stock after buying an additional 5,002 shares during the period. Redmond Asset Management LLC owned approximately 0.06% of Diamondrock Hospitality Company worth $1,404,000 as of its most recent SEC filing.
A number of other large investors have also added to or reduced their stakes in the company. FMR LLC raised its stake in Diamondrock Hospitality Company by 18.6% in the fourth quarter. FMR LLC now owns 20,879,541 shares of the real estate investment trust’s stock valued at $240,741,000 after buying an additional 3,280,597 shares during the period. Mesirow Financial Investment Management Equity Management purchased a new position in Diamondrock Hospitality Company during the third quarter valued at approximately $16,385,000. Morgan Stanley boosted its position in Diamondrock Hospitality Company by 95.6% in the third quarter. Morgan Stanley now owns 3,327,423 shares of the real estate investment trust’s stock valued at $30,278,000 after buying an additional 1,626,459 shares during the period. BlackRock Fund Advisors boosted its position in Diamondrock Hospitality Company by 11.1% in the third quarter. BlackRock Fund Advisors now owns 15,487,667 shares of the real estate investment trust’s stock valued at $140,938,000 after buying an additional 1,542,270 shares during the period. Finally, Russell Investments Group Ltd. purchased a new position in Diamondrock Hospitality Company during the fourth quarter valued at approximately $16,884,000.
Diamondrock Hospitality Company (NYSE:DRH) traded up 0.97% during mid-day trading on Monday, reaching $11.41. 1,574,812 shares of the company traded hands. The stock’s 50-day moving average price is $11.42 and its 200-day moving average price is $10.28. The firm has a market cap of $2.29 billion, a PE ratio of 19.67 and a beta of 1.28. Diamondrock Hospitality Company has a one year low of $7.90 and a one year high of $12.00.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 17th. Investors of record on Friday, December 30th were paid a $0.125 dividend. The ex-dividend date of this dividend was Wednesday, December 28th. This represents a $0.50 annualized dividend and a dividend yield of 4.38%. Diamondrock Hospitality Company’s dividend payout ratio (DPR) is presently 84.75%.
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DRH has been the subject of several recent analyst reports. Canaccord Genuity restated a “buy” rating and issued a $13.00 target price on shares of Diamondrock Hospitality Company in a research report on Wednesday, January 4th. Zacks Investment Research cut shares of Diamondrock Hospitality Company from a “buy” rating to a “hold” rating in a research report on Thursday, January 12th. Barclays PLC set a $11.00 target price on shares of Diamondrock Hospitality Company and gave the stock a “buy” rating in a research report on Thursday, November 10th. Nomura assumed coverage on shares of Diamondrock Hospitality Company in a research report on Wednesday, December 14th. They issued a “neutral” rating and a $12.00 target price for the company. Finally, Instinet assumed coverage on shares of Diamondrock Hospitality Company in a report on Wednesday, December 14th. They issued a “neutral” rating and a $12.00 price objective for the company. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $11.09.
In related news, CFO Sean M. Mahoney sold 30,000 shares of the company’s stock in a transaction dated Tuesday, December 13th. The shares were sold at an average price of $11.45, for a total value of $343,500.00. Following the transaction, the chief financial officer now directly owns 417,744 shares in the company, valued at $4,783,168.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.20% of the company’s stock.
Diamondrock Hospitality Company Company Profile
DiamondRock Hospitality Company is a lodging-focused Maryland corporation operating as a real estate investment trust (REIT). The Company owns a portfolio of approximately 30 hotels and resorts throughout North America and the United States Virgin Islands that consists of over 10,925 guest rooms. Its primary business is to acquire, own, asset manage and renovate full-service hotel properties in the United States.
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