Vert Asset Management LLC Purchases 1,729 Shares of DiamondRock Hospitality (NYSE:DRH)

Vert Asset Management LLC increased its position in shares of DiamondRock Hospitality (NYSE:DRH) by 2.1% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 82,570 shares of the real estate investment trust’s stock after acquiring an additional 1,729 shares during the period. Vert Asset Management LLC’s holdings in DiamondRock Hospitality were worth $746,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Orion Portfolio Solutions LLC grew its holdings in shares of DiamondRock Hospitality by 1.6% during the third quarter. Orion Portfolio Solutions LLC now owns 104,965 shares of the real estate investment trust’s stock worth $916,000 after purchasing an additional 1,652 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in DiamondRock Hospitality by 35.1% in 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 acquiring an additional 2,116 shares during the period. Daiwa Securities Group Inc. raised its stake in shares of DiamondRock Hospitality by 3.9% during the third 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 last quarter. KBC Group NV lifted its holdings 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 worth $94,000 after purchasing an additional 3,744 shares during the period. Finally, Quarry LP grew its stake in shares of DiamondRock Hospitality by 2,093.9% in the second quarter. Quarry LP now owns 3,949 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 3,769 shares during the last quarter.

Analyst Ratings Changes

Several research analysts have commented on the company. Wells Fargo & Company lifted their target price on DiamondRock Hospitality from $10.00 to $10.50 and gave the stock an “equal weight” rating in a report on Monday, December 9th. Stifel Nicolaus cut DiamondRock Hospitality from a “buy” rating to a “hold” rating and reduced their target price for the company from $10.75 to $10.25 in a report on Friday, November 22nd. StockNews.com upgraded shares of DiamondRock Hospitality from a “sell” rating to a “hold” rating in a report on Tuesday, November 12th. Finally, Evercore ISI downgraded shares of DiamondRock Hospitality from an “outperform” rating to an “inline” rating and set a $10.50 price target on the stock. in a research report 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. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $10.25.

DiamondRock Hospitality Stock Up 1.8 %

DiamondRock Hospitality stock opened at $9.03 on Tuesday. 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 company has a market capitalization of $1.87 billion, a PE ratio of 32.25, a PEG ratio of 4.94 and a beta of 1.59. The firm’s fifty day moving average is $9.19 and its 200 day moving average is $8.82. 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 announced a quarterly dividend, which was paid on Tuesday, January 14th. Investors of record on Tuesday, December 31st were given a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 14.17%. This is a positive change from DiamondRock Hospitality’s previous quarterly dividend of $0.03. The ex-dividend date was Tuesday, December 31st. DiamondRock Hospitality’s payout ratio is presently 42.86%.

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.