Bailard Inc. Makes New Investment in DiamondRock Hospitality (NYSE:DRH)

Bailard Inc. acquired a new stake in DiamondRock Hospitality (NYSE:DRH) in the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 81,500 shares of the real estate investment trust’s stock, valued at approximately $736,000.

Other large investors have also recently made changes to their positions in the company. Orion Portfolio Solutions LLC boosted its holdings in shares of DiamondRock Hospitality by 1.6% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 104,965 shares of the real estate investment trust’s stock worth $916,000 after buying an additional 1,652 shares during the last quarter. Vert Asset Management LLC raised its position 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 worth $746,000 after acquiring an additional 1,729 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its stake in DiamondRock Hospitality by 35.1% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,153 shares of the real estate investment trust’s stock valued at $73,000 after acquiring an additional 2,116 shares during the last quarter. Metis Global Partners LLC grew its position in shares of 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 valued at $215,000 after acquiring an additional 2,427 shares during the period. Finally, Daiwa Securities Group Inc. grew its position in shares of DiamondRock Hospitality by 3.9% during the 3rd quarter. Daiwa Securities Group Inc. now owns 68,728 shares of the real estate investment trust’s stock valued at $600,000 after acquiring an additional 2,598 shares during the period.

DiamondRock Hospitality Trading Down 0.1 %

NYSE:DRH opened at $8.22 on Tuesday. DiamondRock Hospitality has a 1 year low of $7.74 and a 1 year high of $10.00. The stock’s fifty day moving average price is $8.76 and its two-hundred day moving average price is $8.88. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.73 and a quick ratio of 1.73. The company has a market cap of $1.71 billion, a P/E ratio of 29.36, a P/E/G ratio of 2.06 and a beta of 1.57.

DiamondRock Hospitality Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be issued a dividend of $0.08 per share. 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 dividend on an annualized basis and a yield of 3.89%. DiamondRock Hospitality’s dividend payout ratio is 188.24%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Stifel Nicolaus cut shares of DiamondRock Hospitality from a “buy” rating to a “hold” rating and lowered their price target for the stock from $10.75 to $10.25 in a report on Friday, November 22nd. Wells Fargo & Company lowered their target price on DiamondRock Hospitality from $10.50 to $9.50 and set an “equal weight” rating on the stock in a research note on Tuesday, February 18th. StockNews.com upgraded DiamondRock Hospitality from a “sell” rating to a “hold” rating in a research note on Tuesday, November 12th. Finally, Evercore ISI cut DiamondRock Hospitality from an “outperform” rating to an “inline” rating and set a $10.50 price objective on the stock. in a research note on Friday, November 15th. 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, DiamondRock Hospitality has a consensus 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.