KLP Kapitalforvaltning AS Purchases New Stake in DiamondRock Hospitality (NYSE:DRH)

KLP Kapitalforvaltning AS purchased a new stake in shares of DiamondRock Hospitality (NYSE:DRH) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 43,400 shares of the real estate investment trust’s stock, valued at approximately $400,000.

Several other institutional investors and hedge funds have also bought and sold shares of DRH. American Century Companies Inc. lifted its position in shares of DiamondRock Hospitality by 11.2% in the 4th quarter. American Century Companies Inc. now owns 53,029 shares of the real estate investment trust’s stock worth $479,000 after purchasing an additional 5,337 shares during the period. Quantbot Technologies LP grew its stake in DiamondRock Hospitality by 173.1% in the fourth quarter. Quantbot Technologies LP now owns 189,977 shares of the real estate investment trust’s stock worth $1,715,000 after purchasing an additional 120,423 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in DiamondRock Hospitality by 36.8% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 111,112 shares of the real estate investment trust’s stock worth $1,003,000 after purchasing an additional 29,866 shares during the period. Xponance Inc. raised its holdings in DiamondRock Hospitality by 9.9% in the fourth quarter. Xponance Inc. now owns 15,098 shares of the real estate investment trust’s stock worth $136,000 after purchasing an additional 1,360 shares in the last quarter. Finally, Intech Investment Management LLC lifted its position in DiamondRock Hospitality by 36.3% during the fourth quarter. Intech Investment Management LLC now owns 112,739 shares of the real estate investment trust’s stock valued at $1,018,000 after buying an additional 30,000 shares during the period.

Wall Street Analyst Weigh In

Separately, Wells Fargo & Company reduced their target price on shares of DiamondRock Hospitality from $10.50 to $9.50 and set an “equal weight” rating on the stock in a research report on Tuesday, February 18th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $10.05.

DiamondRock Hospitality Stock Down 3.1 %

Shares of NYSE:DRH opened at $7.01 on Friday. DiamondRock Hospitality has a 12-month low of $6.85 and a 12-month high of $10.00. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.66. The stock has a fifty day simple moving average of $8.24 and a two-hundred day simple moving average of $8.78. The stock has a market capitalization of $1.46 billion, a price-to-earnings ratio of 25.02, a PEG ratio of 2.06 and a beta of 1.63.

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. 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 4.57%. The ex-dividend date is Friday, March 28th. DiamondRock Hospitality’s dividend payout ratio (DPR) is currently 188.24%.

About DiamondRock Hospitality

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.