MQS Management LLC Sells 7,945 Shares of DiamondRock Hospitality (NYSE:DRH)

MQS Management LLC cut its stake in shares of DiamondRock Hospitality (NYSE:DRH) by 28.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 19,649 shares of the real estate investment trust’s stock after selling 7,945 shares during the quarter. DiamondRock Hospitality makes up 5.0% of MQS Management LLC’s portfolio, making the stock its 14th largest holding. MQS Management LLC’s holdings in DiamondRock Hospitality were worth $177,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in DRH. Smartleaf Asset Management LLC raised its holdings in shares of DiamondRock Hospitality by 278.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 9,769 shares of the real estate investment trust’s stock valued at $89,000 after buying an additional 7,189 shares during the last quarter. KBC Group NV raised its holdings in shares of DiamondRock Hospitality by 55.9% in the fourth quarter. KBC Group NV now owns 10,436 shares of the real estate investment trust’s stock valued at $94,000 after buying an additional 3,744 shares during the last quarter. GSA Capital Partners LLP bought a new position in shares of DiamondRock Hospitality in the third quarter valued at about $126,000. Choreo LLC raised its holdings in shares of DiamondRock Hospitality by 55.1% in the fourth quarter. Choreo LLC now owns 15,553 shares of the real estate investment trust’s stock valued at $142,000 after buying an additional 5,523 shares during the last quarter. Finally, Metis Global Partners LLC raised its holdings in shares of DiamondRock Hospitality by 29.6% in the third quarter. Metis Global Partners LLC now owns 21,346 shares of the real estate investment trust’s stock valued at $186,000 after buying an additional 4,878 shares during the last quarter.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Stifel Nicolaus cut DiamondRock Hospitality from a “buy” rating to a “hold” rating and cut their price target for the company from $10.75 to $10.25 in a report on Friday, November 22nd. Evercore ISI cut DiamondRock Hospitality from an “outperform” rating to an “inline” rating and set a $10.50 price target for the company. in a report on Friday, November 15th. StockNews.com upgraded DiamondRock Hospitality from a “sell” rating to a “hold” rating in a research report on Tuesday, November 12th. Finally, Wells Fargo & Company lowered their price objective on DiamondRock Hospitality from $10.50 to $9.50 and set an “equal weight” rating for the company in a research report on Tuesday, February 18th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $10.05.

DiamondRock Hospitality Price Performance

Shares of DRH stock opened at $8.55 on Monday. The stock has a 50-day moving average price of $8.68 and a 200 day moving average price of $8.88. 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 firm has a market cap of $1.78 billion, a price-to-earnings ratio of 30.52, a PEG ratio of 2.06 and a beta of 1.63. DiamondRock Hospitality has a 12 month low of $7.74 and a 12 month high of $10.00.

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 given 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 annualized dividend and a dividend yield of 3.74%. The ex-dividend date of this dividend is Friday, March 28th. DiamondRock Hospitality’s payout ratio is presently 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.