LSV Asset Management Purchases New Stake in DiamondRock Hospitality (NYSE:DRH)

LSV Asset Management purchased a new stake in shares of DiamondRock Hospitality (NYSE:DRH) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 211,609 shares of the real estate investment trust’s stock, valued at approximately $1,911,000. LSV Asset Management owned approximately 0.10% of DiamondRock Hospitality at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. FIL Ltd bought a new stake in DiamondRock Hospitality during the fourth quarter worth $60,000. Smartleaf Asset Management LLC grew its stake in shares of DiamondRock Hospitality by 278.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 9,769 shares of the real estate investment trust’s stock worth $89,000 after acquiring an additional 7,189 shares in the last quarter. KBC Group NV lifted its position in shares of DiamondRock Hospitality by 55.9% during the fourth quarter. KBC Group NV now owns 10,436 shares of the real estate investment trust’s stock valued at $94,000 after purchasing an additional 3,744 shares in the last quarter. Xponance Inc. lifted its position in shares of DiamondRock Hospitality by 9.9% during the fourth quarter. Xponance Inc. now owns 15,098 shares of the real estate investment trust’s stock valued at $136,000 after purchasing an additional 1,360 shares in the last quarter. Finally, Choreo LLC boosted its holdings in DiamondRock Hospitality by 55.1% during the fourth quarter. Choreo LLC now owns 15,553 shares of the real estate investment trust’s stock worth $142,000 after purchasing an additional 5,523 shares during the last quarter.

Analyst Upgrades and Downgrades

Separately, Wells Fargo & Company dropped 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 investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $10.05.

DiamondRock Hospitality Stock Performance

NYSE DRH opened at $7.01 on Tuesday. The company has a market capitalization of $1.46 billion, a PE ratio of 25.04, a price-to-earnings-growth ratio of 2.06 and a beta of 1.38. 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 52-week low of $6.19 and a 52-week high of $10.00. The company has a 50-day simple moving average of $7.94 and a 200 day simple moving average of $8.66.

DiamondRock Hospitality Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Friday, March 28th were issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 4.56%. The ex-dividend date of this dividend was Friday, March 28th. This is a boost from DiamondRock Hospitality’s previous quarterly dividend of $0.03. DiamondRock Hospitality’s payout ratio is 188.24%.

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.