Nisa Investment Advisors LLC Trims Stock Holdings in DiamondRock Hospitality (NYSE:DRH)

Nisa Investment Advisors LLC reduced its stake in shares of DiamondRock Hospitality (NYSE:DRH) by 5.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 65,652 shares of the real estate investment trust’s stock after selling 4,105 shares during the quarter. Nisa Investment Advisors LLC’s holdings in DiamondRock Hospitality were worth $609,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Quarry LP grew its stake in DiamondRock Hospitality by 2,093.9% in the 2nd quarter. Quarry LP now owns 3,949 shares of the real estate investment trust’s stock worth $33,000 after acquiring an additional 3,769 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of DiamondRock Hospitality by 35.1% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,153 shares of the real estate investment trust’s stock valued at $73,000 after purchasing an additional 2,116 shares in the last quarter. Harbor Capital Advisors Inc. bought a new position in shares of DiamondRock Hospitality during the third quarter valued at approximately $74,000. SG Americas Securities LLC purchased a new position in DiamondRock Hospitality during the third quarter valued at approximately $100,000. Finally, GSA Capital Partners LLP bought a new position in DiamondRock Hospitality in the third quarter worth approximately $126,000.

DiamondRock Hospitality Stock Performance

NYSE DRH opened at $9.02 on Wednesday. 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 $7.74 and a twelve month high of $10.00. The stock has a 50-day moving average of $9.19 and a 200 day moving average of $8.83. The stock has a market capitalization of $1.87 billion, a price-to-earnings ratio of 32.20, a PEG ratio of 4.94 and a beta of 1.59.

DiamondRock Hospitality Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, January 14th. Investors of record on Tuesday, December 31st were paid a $0.32 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $1.28 dividend on an annualized basis and a yield of 14.20%. This is a boost from DiamondRock Hospitality’s previous quarterly dividend of $0.03. DiamondRock Hospitality’s dividend payout ratio (DPR) is currently 42.86%.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. Wells Fargo & Company lifted their target price on DiamondRock Hospitality from $10.00 to $10.50 and gave the company an “equal weight” rating in a research note on Monday, December 9th. Stifel Nicolaus downgraded shares of DiamondRock Hospitality from a “buy” rating to a “hold” rating and dropped their target price for the stock from $10.75 to $10.25 in a research report on Friday, November 22nd. StockNews.com upgraded shares of DiamondRock Hospitality from a “sell” rating to a “hold” rating in a research note on Tuesday, November 12th. Finally, Evercore ISI downgraded shares of DiamondRock Hospitality from an “outperform” rating to an “inline” rating and set a $10.50 price objective on the stock. in a report on Friday, November 15th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, DiamondRock Hospitality presently has an average rating of “Hold” and an average price target of $10.25.

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.