Metis Global Partners LLC Buys 2,427 Shares of DiamondRock Hospitality (NYSE:DRH)

Metis Global Partners LLC raised its stake in DiamondRock Hospitality (NYSE:DRH) by 11.4% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 23,773 shares of the real estate investment trust’s stock after purchasing an additional 2,427 shares during the quarter. Metis Global Partners LLC’s holdings in DiamondRock Hospitality were worth $215,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. State Street Corp lifted its position in DiamondRock Hospitality by 1.8% in the third quarter. State Street Corp now owns 12,535,384 shares of the real estate investment trust’s stock valued at $109,806,000 after purchasing an additional 221,219 shares during the last quarter. Pzena Investment Management LLC raised its holdings in shares of DiamondRock Hospitality by 3.6% during the third quarter. Pzena Investment Management LLC now owns 9,153,018 shares of the real estate investment trust’s stock valued at $79,906,000 after acquiring an additional 317,901 shares in the last quarter. Rush Island Management LP bought a new position in shares of DiamondRock Hospitality during the third quarter valued at approximately $51,726,000. Geode Capital Management LLC raised its holdings in shares of DiamondRock Hospitality by 0.5% during the third quarter. Geode Capital Management LLC now owns 5,350,283 shares of the real estate investment trust’s stock valued at $46,716,000 after acquiring an additional 28,391 shares in the last quarter. Finally, Wellington Management Group LLP raised its holdings in shares of DiamondRock Hospitality by 15.6% during the third quarter. Wellington Management Group LLP now owns 4,925,093 shares of the real estate investment trust’s stock valued at $42,996,000 after acquiring an additional 663,529 shares in the last quarter.

Analyst Ratings Changes

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

DiamondRock Hospitality Price Performance

DRH opened at $8.21 on Friday. The stock has a fifty day simple moving average of $8.69 and a two-hundred day simple moving average of $8.87. 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 company has a market cap of $1.70 billion, a price-to-earnings ratio of 29.30, a price-to-earnings-growth ratio of 2.06 and a beta of 1.57. DiamondRock Hospitality has a 12-month low of $7.74 and a 12-month high of $10.00.

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 issued a $0.08 dividend. This is an increase from DiamondRock Hospitality’s previous quarterly dividend of $0.03. The ex-dividend date of this dividend is Friday, March 28th. This represents a $0.32 dividend on an annualized basis and a yield of 3.90%. DiamondRock Hospitality’s dividend payout ratio is 188.24%.

DiamondRock Hospitality 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.