Van ECK Associates Corp Has $354,000 Stock Holdings in DiamondRock Hospitality (NYSE:DRH)

Van ECK Associates Corp grew its stake in shares of DiamondRock Hospitality (NYSE:DRH) by 8.4% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 39,187 shares of the real estate investment trust’s stock after purchasing an additional 3,027 shares during the period. Van ECK Associates Corp’s holdings in DiamondRock Hospitality were worth $354,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Orion Portfolio Solutions LLC raised its position in DiamondRock Hospitality by 1.6% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 104,965 shares of the real estate investment trust’s stock valued at $916,000 after buying an additional 1,652 shares during the last quarter. Vert Asset Management LLC raised its position in DiamondRock Hospitality by 2.1% in the 4th quarter. Vert Asset Management LLC now owns 82,570 shares of the real estate investment trust’s stock valued at $746,000 after buying an additional 1,729 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in 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 buying an additional 2,116 shares during the last quarter. Daiwa Securities Group Inc. increased its position in shares of DiamondRock Hospitality by 3.9% during the 3rd quarter. Daiwa Securities Group Inc. now owns 68,728 shares of the real estate investment trust’s stock valued at $600,000 after purchasing an additional 2,598 shares during the last quarter. Finally, KBC Group NV increased its position 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 valued at $94,000 after purchasing an additional 3,744 shares during the last quarter.

DiamondRock Hospitality Stock Down 3.8 %

DRH stock opened at $8.22 on Friday. 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 company has a market capitalization of $1.71 billion, a price-to-earnings ratio of 29.34, a PEG ratio of 2.06 and a beta of 1.57. DiamondRock Hospitality has a fifty-two week low of $7.74 and a fifty-two week high of $10.00. The stock has a fifty day moving average of $8.90 and a 200-day moving average of $8.86.

DiamondRock Hospitality Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, January 14th. Stockholders of record on Tuesday, December 31st were paid a dividend of $0.32 per share. This is an increase from DiamondRock Hospitality’s previous quarterly dividend of $0.03. The ex-dividend date was Tuesday, December 31st. This represents a $1.28 annualized dividend and a dividend yield of 15.58%. DiamondRock Hospitality’s dividend payout ratio is presently 42.86%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on DRH. Stifel Nicolaus lowered DiamondRock Hospitality from a “buy” rating to a “hold” rating and decreased their target price for the company from $10.75 to $10.25 in a research report on Friday, November 22nd. Wells Fargo & Company decreased their target price on DiamondRock Hospitality from $10.50 to $9.50 and set an “equal weight” rating for the company in a research report on Tuesday, February 18th. StockNews.com raised DiamondRock Hospitality from a “sell” rating to a “hold” rating in a research report on Tuesday, November 12th. Finally, Evercore ISI lowered DiamondRock Hospitality from an “outperform” rating to an “inline” rating and set a $10.50 target price for the company. in a research report on Friday, November 15th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, DiamondRock Hospitality has a consensus rating of “Hold” and an average 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.