Commonwealth of Pennsylvania Public School Empls Retrmt SYS Buys 29,866 Shares of DiamondRock Hospitality (NYSE:DRH)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in shares of DiamondRock Hospitality (NYSE:DRH) by 36.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 111,112 shares of the real estate investment trust’s stock after buying an additional 29,866 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in DiamondRock Hospitality were worth $1,003,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in DRH. Rush Island Management LP bought a new stake in shares of DiamondRock Hospitality in the 3rd quarter worth approximately $51,726,000. Cbre Investment Management Listed Real Assets LLC bought a new position in DiamondRock Hospitality in the fourth quarter worth $14,889,000. Sumitomo Mitsui Trust Group Inc. boosted its stake in DiamondRock Hospitality by 458.3% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,300,414 shares of the real estate investment trust’s stock worth $11,743,000 after buying an additional 1,067,497 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in 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 buying an additional 946,073 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC bought a new position in shares of DiamondRock Hospitality during the 3rd quarter worth about $6,442,000.

DiamondRock Hospitality Stock Performance

NYSE DRH opened at $7.89 on Thursday. The firm has a market cap of $1.64 billion, a price-to-earnings ratio of 28.16, a PEG ratio of 2.06 and a beta of 1.63. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.66. DiamondRock Hospitality has a 1-year low of $7.65 and a 1-year high of $10.00. The company has a 50 day moving average of $8.43 and a 200-day moving average of $8.82.

DiamondRock Hospitality Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be given 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 annualized dividend and a yield of 4.06%. DiamondRock Hospitality’s payout ratio is presently 188.24%.

Analyst Ratings Changes

Separately, Wells Fargo & Company decreased their price objective on DiamondRock Hospitality from $10.50 to $9.50 and set an “equal weight” rating on the stock in a report on Tuesday, February 18th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $10.05.

About DiamondRock Hospitality

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.