Raymond James Financial Inc. Purchases Shares of 201,108 DiamondRock Hospitality (NYSE:DRH)

Raymond James Financial Inc. acquired a new position in shares of DiamondRock Hospitality (NYSE:DRH) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 201,108 shares of the real estate investment trust’s stock, valued at approximately $1,816,000. Raymond James Financial Inc. owned approximately 0.10% of DiamondRock Hospitality as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in DRH. Orion Portfolio Solutions LLC grew its holdings in DiamondRock Hospitality by 1.6% during the 3rd quarter. Orion Portfolio Solutions LLC now owns 104,965 shares of the real estate investment trust’s stock worth $916,000 after acquiring an additional 1,652 shares in the last quarter. Vert Asset Management LLC increased its holdings in DiamondRock Hospitality by 2.1% in the fourth 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. Metis Global Partners LLC lifted its holdings in DiamondRock Hospitality by 11.4% during the 4th quarter. Metis Global Partners LLC now owns 23,773 shares of the real estate investment trust’s stock worth $215,000 after buying an additional 2,427 shares during the last quarter. Van ECK Associates Corp boosted its position in shares of DiamondRock Hospitality by 8.4% during the 4th quarter. Van ECK Associates Corp now owns 39,187 shares of the real estate investment trust’s stock worth $354,000 after acquiring an additional 3,027 shares in the last quarter. Finally, KBC Group NV increased its holdings in shares of DiamondRock Hospitality by 55.9% in the 4th quarter. KBC Group NV now owns 10,436 shares of the real estate investment trust’s stock valued at $94,000 after acquiring an additional 3,744 shares during the last quarter.

DiamondRock Hospitality Stock Up 1.2 %

Shares of NYSE DRH opened at $7.74 on Tuesday. The stock has a market cap 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. DiamondRock Hospitality has a 52-week low of $7.54 and a 52-week high of $10.00. The business has a 50-day moving average price of $8.36 and a 200 day moving average price of $8.81. 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 Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be paid a $0.08 dividend. This is an increase from DiamondRock Hospitality’s previous quarterly dividend of $0.03. This represents a $0.32 annualized dividend and a dividend yield of 4.14%. The ex-dividend date is Friday, March 28th. DiamondRock Hospitality’s dividend payout ratio (DPR) is 188.24%.

Wall Street Analyst Weigh In

Separately, 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 note on Tuesday, February 18th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $10.05.

DiamondRock Hospitality Company 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.