Vert Asset Management LLC Has $746,000 Stock Position in DiamondRock Hospitality (NYSE:DRH)

Vert Asset Management LLC increased its holdings in DiamondRock Hospitality (NYSE:DRH) by 2.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). 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 quarter.

Other large investors have also added to or reduced their stakes in the company. Wellington Management Group LLP increased its holdings in DiamondRock Hospitality by 15.6% during the 3rd quarter. Wellington Management Group LLP now owns 4,925,093 shares of the real estate investment trust’s stock worth $42,996,000 after purchasing an additional 663,529 shares in the last quarter. Jane Street Group LLC boosted its position in shares of DiamondRock Hospitality by 73.0% during the third quarter. Jane Street Group LLC now owns 302,757 shares of the real estate investment trust’s stock valued at $2,643,000 after buying an additional 127,717 shares during the last quarter. Geode Capital Management LLC grew its holdings in 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 worth $46,716,000 after buying an additional 28,391 shares in the last quarter. Barclays PLC raised its position in DiamondRock Hospitality by 37.6% in the 3rd quarter. Barclays PLC now owns 368,616 shares of the real estate investment trust’s stock valued at $3,219,000 after buying an additional 100,805 shares during the last quarter. Finally, Holocene Advisors LP bought a new position in DiamondRock Hospitality during the 3rd quarter valued at $568,000.

Analysts Set New Price Targets

Several analysts have recently issued reports on DRH shares. Evercore ISI lowered shares of DiamondRock Hospitality from an “outperform” rating to an “inline” rating and set a $10.50 target price for the company. in a research note on Friday, November 15th. StockNews.com raised shares of DiamondRock Hospitality from a “sell” rating to a “hold” rating in a research report on Tuesday, November 12th. Stifel Nicolaus lowered shares of DiamondRock Hospitality from a “buy” rating to a “hold” rating and decreased their price objective for the company from $10.75 to $10.25 in a research note on Friday, November 22nd. Finally, Wells Fargo & Company boosted their target price on DiamondRock Hospitality from $10.00 to $10.50 and gave the stock an “equal weight” rating in a research note on Monday, December 9th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $10.25.

DiamondRock Hospitality Stock Performance

Shares of DRH stock opened at $9.03 on Tuesday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.73 and a current ratio of 1.73. The firm has a market cap of $1.87 billion, a price-to-earnings ratio of 32.25, a P/E/G ratio of 4.94 and a beta of 1.59. DiamondRock Hospitality has a 52 week low of $7.74 and a 52 week high of $10.00. The firm’s 50-day simple moving average is $9.19 and its two-hundred day simple moving average is $8.82.

DiamondRock Hospitality Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 14th. Shareholders of record on Tuesday, December 31st were issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend 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 of this dividend was Tuesday, December 31st. DiamondRock Hospitality’s dividend payout ratio is 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.