DiamondRock Hospitality (NYSE:DRH) Stock Position Cut by Teacher Retirement System of Texas

Teacher Retirement System of Texas trimmed its stake in shares of DiamondRock Hospitality (NYSE:DRH) by 32.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 51,107 shares of the real estate investment trust’s stock after selling 24,396 shares during the quarter. Teacher Retirement System of Texas’ holdings in DiamondRock Hospitality were worth $461,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in DRH. Rush Island Management LP acquired a new position in shares of DiamondRock Hospitality during the third quarter valued at approximately $51,726,000. Cbre Investment Management Listed Real Assets LLC acquired a new position in shares of DiamondRock Hospitality during the 4th quarter valued at $14,889,000. Sumitomo Mitsui Trust Group Inc. raised its stake in shares of DiamondRock Hospitality by 458.3% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,300,414 shares of the real estate investment trust’s stock worth $11,743,000 after buying an additional 1,067,497 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of DiamondRock Hospitality by 326.6% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,235,728 shares of the real estate investment trust’s stock valued at $10,788,000 after buying an additional 946,073 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC bought a new position in DiamondRock Hospitality during the third quarter valued at about $6,442,000.

Wall Street Analyst Weigh In

Separately, Wells Fargo & Company cut their price target on shares of DiamondRock Hospitality from $10.50 to $9.50 and set an “equal weight” rating for the company in a report on Tuesday, February 18th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $10.05.

DiamondRock Hospitality Stock Up 1.2 %

Shares of DiamondRock Hospitality stock opened at $7.74 on Tuesday. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.66. DiamondRock Hospitality has a 12-month low of $7.54 and a 12-month high of $10.00. The firm has a market capitalization of $1.61 billion, a PE ratio of 27.63, a price-to-earnings-growth ratio of 2.06 and a beta of 1.63. The stock’s fifty day moving average is $8.36 and its 200-day moving average is $8.81.

DiamondRock Hospitality Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, March 28th. This is a positive change from DiamondRock Hospitality’s previous quarterly dividend of $0.03. This represents a $0.32 dividend on an annualized basis and a yield of 4.14%. DiamondRock Hospitality’s dividend payout ratio is currently 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.