Charles Schwab Investment Management Inc. Has $41.16 Million Stock Holdings in DiamondRock Hospitality (NYSE:DRH)

Charles Schwab Investment Management Inc. raised its stake in DiamondRock Hospitality (NYSE:DRH) by 1.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,557,580 shares of the real estate investment trust’s stock after acquiring an additional 81,916 shares during the period. Charles Schwab Investment Management Inc. owned approximately 2.20% of DiamondRock Hospitality worth $41,155,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Wellington Management Group LLP raised its holdings in shares of DiamondRock Hospitality by 15.6% during the 3rd quarter. Wellington Management Group LLP now owns 4,925,093 shares of the real estate investment trust’s stock worth $42,996,000 after buying an additional 663,529 shares in the last quarter. Jane Street Group LLC raised its holdings in shares of DiamondRock Hospitality by 73.0% during the 3rd quarter. Jane Street Group LLC now owns 302,757 shares of the real estate investment trust’s stock worth $2,643,000 after buying an additional 127,717 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of DiamondRock Hospitality by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 5,350,283 shares of the real estate investment trust’s stock worth $46,716,000 after buying an additional 28,391 shares in the last quarter. Barclays PLC raised its holdings in shares of DiamondRock Hospitality by 37.6% during the 3rd quarter. Barclays PLC now owns 368,616 shares of the real estate investment trust’s stock worth $3,219,000 after buying an additional 100,805 shares in the last quarter. Finally, Choreo LLC raised its holdings in shares of DiamondRock Hospitality by 55.1% during the 4th quarter. Choreo LLC now owns 15,553 shares of the real estate investment trust’s stock worth $142,000 after buying an additional 5,523 shares in the last quarter.

DiamondRock Hospitality Stock Performance

NYSE:DRH opened at $7.91 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. DiamondRock Hospitality has a fifty-two week low of $7.69 and a fifty-two week high of $10.00. The company has a 50 day simple moving average of $8.57 and a two-hundred day simple moving average of $8.85. The company has a market capitalization of $1.64 billion, a PE ratio of 28.23, a P/E/G ratio of 2.06 and a beta of 1.63.

DiamondRock Hospitality Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 4.05%. The ex-dividend date is Friday, March 28th. This is an increase from DiamondRock Hospitality’s previous quarterly dividend of $0.03. DiamondRock Hospitality’s dividend payout ratio (DPR) is currently 188.24%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on DRH shares. Stifel Nicolaus downgraded DiamondRock Hospitality from a “buy” rating to a “hold” rating and dropped their target price for the company from $10.75 to $10.25 in a research report on Friday, November 22nd. Wells Fargo & Company dropped 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. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $10.05.

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.