Cbre Investment Management Listed Real Assets LLC Invests $14.89 Million in DiamondRock Hospitality (NYSE:DRH)

Cbre Investment Management Listed Real Assets LLC acquired a new position in shares of DiamondRock Hospitality (NYSE:DRH) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 1,648,805 shares of the real estate investment trust’s stock, valued at approximately $14,889,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Mirae Asset Global Investments Co. Ltd. lifted its holdings in DiamondRock Hospitality by 35.1% during the 3rd 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 purchasing an additional 2,116 shares during the last quarter. Harbor Capital Advisors Inc. bought a new position in shares of DiamondRock Hospitality in the third quarter worth about $74,000. Smartleaf Asset Management LLC raised its stake 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 worth $89,000 after acquiring an additional 7,189 shares during the last quarter. KBC Group NV raised its stake 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 worth $94,000 after acquiring an additional 3,744 shares during the last quarter. Finally, GSA Capital Partners LLP bought a new position in shares of DiamondRock Hospitality in the third quarter worth about $126,000.

Analysts Set New Price Targets

Several brokerages have recently commented on DRH. Wells Fargo & Company lowered their price target on shares of 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. StockNews.com upgraded shares of DiamondRock Hospitality from a “sell” rating to a “hold” rating in a research report on Tuesday, November 12th. Stifel Nicolaus cut shares of DiamondRock Hospitality from a “buy” rating to a “hold” rating and reduced their price target for the company from $10.75 to $10.25 in a report on Friday, November 22nd. Finally, Evercore ISI cut shares of 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. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $10.05.

DiamondRock Hospitality Price Performance

NYSE:DRH opened at $8.11 on Wednesday. DiamondRock Hospitality has a one year low of $7.74 and a one year high of $10.00. The company has a market cap of $1.68 billion, a P/E ratio of 28.95, a P/E/G ratio of 2.06 and a beta of 1.57. The firm’s fifty day moving average price is $8.73 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.

DiamondRock Hospitality Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be issued a $0.08 dividend. This is an increase from DiamondRock Hospitality’s previous quarterly dividend of $0.03. This represents a $0.32 annualized dividend and a dividend yield of 3.95%. The ex-dividend date of this dividend is Friday, March 28th. DiamondRock Hospitality’s payout ratio is currently 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.