Smartleaf Asset Management LLC Has $89,000 Position in DiamondRock Hospitality (NYSE:DRH)

Smartleaf Asset Management LLC boosted its position in shares of DiamondRock Hospitality (NYSE:DRH) by 278.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 9,769 shares of the real estate investment trust’s stock after purchasing an additional 7,189 shares during the quarter. Smartleaf Asset Management LLC’s holdings in DiamondRock Hospitality were worth $89,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Harbor Capital Advisors Inc. acquired a new position in DiamondRock Hospitality during the third quarter valued at approximately $74,000. KBC Group NV grew its holdings in DiamondRock Hospitality by 55.9% during the fourth 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 period. GSA Capital Partners LLP acquired a new position in DiamondRock Hospitality during the third quarter valued at approximately $126,000. Choreo LLC grew its holdings in DiamondRock Hospitality by 55.1% during the fourth quarter. Choreo LLC now owns 15,553 shares of the real estate investment trust’s stock valued at $142,000 after purchasing an additional 5,523 shares during the period. Finally, Metis Global Partners LLC grew its holdings in DiamondRock Hospitality by 29.6% during the third quarter. Metis Global Partners LLC now owns 21,346 shares of the real estate investment trust’s stock valued at $186,000 after purchasing an additional 4,878 shares during the period.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. StockNews.com raised shares of DiamondRock Hospitality from a “sell” rating to a “hold” rating in a research note on Tuesday, November 12th. Evercore ISI lowered shares of DiamondRock Hospitality from an “outperform” rating to an “inline” rating and set a $10.50 price target on the stock. in a research note on Friday, November 15th. Stifel Nicolaus lowered shares of DiamondRock Hospitality from a “buy” rating to a “hold” rating and cut their price target for the company from $10.75 to $10.25 in a research note on Friday, November 22nd. Finally, Wells Fargo & Company cut their price target on shares of DiamondRock Hospitality from $10.50 to $9.50 and set an “equal weight” rating on the stock in a research note on Tuesday, February 18th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $10.05.

DiamondRock Hospitality Stock Performance

Shares of DRH opened at $8.55 on Friday. DiamondRock Hospitality has a 12 month low of $7.74 and a 12 month high of $10.00. The firm has a fifty day simple moving average of $8.68 and a 200 day simple moving average of $8.87. The stock has a market capitalization of $1.78 billion, a price-to-earnings ratio of 30.52, a PEG ratio of 2.06 and a beta of 1.63. 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 Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be issued a dividend of $0.08 per share. This is a boost from DiamondRock Hospitality’s previous quarterly dividend of $0.03. The ex-dividend date is Friday, March 28th. This represents a $0.32 annualized dividend and a yield of 3.74%. DiamondRock Hospitality’s dividend payout ratio is presently 188.24%.

DiamondRock Hospitality Profile

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.