DiamondRock Hospitality (NYSE:DRH) Shares Sold by Vanguard Group Inc.

Vanguard Group Inc. cut its stake in DiamondRock Hospitality (NYSE:DRH) by 2.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 32,920,405 shares of the real estate investment trust’s stock after selling 800,293 shares during the period. Vanguard Group Inc. owned about 15.86% of DiamondRock Hospitality worth $297,271,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of DRH. Wellington Management Group LLP raised its position in DiamondRock Hospitality by 15.6% in the 3rd quarter. Wellington Management Group LLP now owns 4,925,093 shares of the real estate investment trust’s stock valued at $42,996,000 after purchasing an additional 663,529 shares in the last quarter. Jane Street Group LLC raised its holdings in DiamondRock Hospitality by 73.0% in the third quarter. Jane Street Group LLC now owns 302,757 shares of the real estate investment trust’s stock valued at $2,643,000 after acquiring an additional 127,717 shares in the last quarter. Geode Capital Management LLC raised its holdings in DiamondRock Hospitality by 0.5% in the third quarter. Geode Capital Management LLC now owns 5,350,283 shares of the real estate investment trust’s stock valued at $46,716,000 after acquiring an additional 28,391 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in DiamondRock Hospitality by 45.2% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 138,327 shares of the real estate investment trust’s stock worth $1,249,000 after acquiring an additional 43,088 shares during the last quarter. Finally, Cbre Investment Management Listed Real Assets LLC acquired a new position in DiamondRock Hospitality during the 4th quarter worth approximately $14,889,000.

DiamondRock Hospitality Stock Performance

Shares of DRH opened at $7.01 on Friday. The company has a market capitalization of $1.46 billion, a price-to-earnings ratio of 25.02, a price-to-earnings-growth ratio of 2.06 and a beta of 1.63. DiamondRock Hospitality has a 52-week low of $6.85 and a 52-week high of $10.00. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.66. The stock has a 50 day moving average price of $8.24 and a 200 day moving average price of $8.78.

DiamondRock Hospitality Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be issued a $0.08 dividend. 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 dividend yield of 4.57%. DiamondRock Hospitality’s dividend payout ratio is presently 188.24%.

Wall Street Analysts Forecast Growth

Separately, Wells Fargo & Company reduced their price objective on shares of DiamondRock Hospitality from $10.50 to $9.50 and set an “equal weight” rating on the stock in a report on Tuesday, February 18th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus 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.