Nomura Asset Management Co. Ltd. Has $2.55 Million Stake in DiamondRock Hospitality (NYSE:DRH)

Nomura Asset Management Co. Ltd. raised its holdings in DiamondRock Hospitality (NYSE:DRH) by 8.4% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 282,224 shares of the real estate investment trust’s stock after purchasing an additional 21,824 shares during the period. Nomura Asset Management Co. Ltd. owned approximately 0.14% of DiamondRock Hospitality worth $2,548,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. BNP Paribas Financial Markets lifted its stake in DiamondRock Hospitality by 46.0% during the third quarter. BNP Paribas Financial Markets now owns 65,575 shares of the real estate investment trust’s stock worth $572,000 after purchasing an additional 20,660 shares during the last quarter. Glenmede Trust Co. NA lifted its holdings in DiamondRock Hospitality by 100.0% during the 3rd quarter. Glenmede Trust Co. NA now owns 67,677 shares of the real estate investment trust’s stock worth $591,000 after buying an additional 33,835 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of DiamondRock Hospitality by 326.6% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,235,728 shares of the real estate investment trust’s stock valued at $10,788,000 after purchasing an additional 946,073 shares during the last quarter. Verition Fund Management LLC boosted its position in shares of DiamondRock Hospitality by 108.6% during the 3rd quarter. Verition Fund Management LLC now owns 215,986 shares of the real estate investment trust’s stock valued at $1,886,000 after purchasing an additional 112,463 shares in the last quarter. Finally, Holocene Advisors LP acquired a new stake in DiamondRock Hospitality during the third quarter worth approximately $568,000.

DiamondRock Hospitality Trading Up 2.3 %

DRH opened at $7.89 on Thursday. The firm has a market capitalization of $1.64 billion, a PE ratio of 28.18, a P/E/G ratio of 2.06 and a beta of 1.63. DiamondRock Hospitality has a fifty-two week low of $7.54 and a fifty-two week high of $10.00. The company’s 50-day moving average is $8.31 and its 200 day moving average is $8.80. 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 declared a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be given a $0.08 dividend. This is a positive change from DiamondRock Hospitality’s previous quarterly dividend of $0.03. This represents a $0.32 dividend on an annualized basis and a yield of 4.06%. The ex-dividend date of this dividend is Friday, March 28th. DiamondRock Hospitality’s dividend payout ratio is presently 188.24%.

Analyst Upgrades and Downgrades

Separately, Wells Fargo & Company cut their target price on shares of 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. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock presently has an average 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.