DiamondRock Hospitality (NYSE:DRH) Shares Sold by Van Lanschot Kempen Investment Management N.V.

Van Lanschot Kempen Investment Management N.V. cut its stake in DiamondRock Hospitality (NYSE:DRH) by 81.6% in the fourth quarter, Holdings Channel.com reports. The fund owned 288,612 shares of the real estate investment trust’s stock after selling 1,282,673 shares during the quarter. Van Lanschot Kempen Investment Management N.V.’s holdings in DiamondRock Hospitality were worth $2,606,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of DRH. Xponance Inc. increased its position in shares of DiamondRock Hospitality by 9.9% during the fourth quarter. Xponance Inc. now owns 15,098 shares of the real estate investment trust’s stock worth $136,000 after purchasing an additional 1,360 shares in the last quarter. Vert Asset Management LLC grew its stake in DiamondRock Hospitality by 2.1% during the 4th quarter. Vert Asset Management LLC now owns 82,570 shares of the real estate investment trust’s stock worth $746,000 after buying an additional 1,729 shares during the last quarter. Metis Global Partners LLC increased its position in DiamondRock Hospitality by 11.4% during the fourth quarter. Metis Global Partners LLC now owns 23,773 shares of the real estate investment trust’s stock worth $215,000 after buying an additional 2,427 shares during the period. Van ECK Associates Corp lifted its stake in DiamondRock Hospitality by 8.4% in the fourth quarter. Van ECK Associates Corp now owns 39,187 shares of the real estate investment trust’s stock valued at $354,000 after buying an additional 3,027 shares during the last quarter. Finally, KBC Group NV boosted its holdings in shares of DiamondRock Hospitality by 55.9% in the fourth quarter. KBC Group NV now owns 10,436 shares of the real estate investment trust’s stock valued at $94,000 after acquiring an additional 3,744 shares during the period.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on DRH. 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 report on Tuesday, February 18th. Stifel Nicolaus lowered their price objective on shares of DiamondRock Hospitality from $9.75 to $8.00 and set a “hold” rating on the stock in a research report on Wednesday, April 16th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $9.60.

DiamondRock Hospitality Trading Down 0.3 %

NYSE:DRH opened at $6.95 on Tuesday. DiamondRock Hospitality has a 12-month low of $6.19 and a 12-month high of $10.00. 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 stock’s 50 day simple moving average is $7.77 and its 200-day simple moving average is $8.59. The firm has a market cap of $1.45 billion, a P/E ratio of 24.82, a PEG ratio of 2.06 and a beta of 1.38.

DiamondRock Hospitality Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Friday, March 28th were paid a $0.08 dividend. This is a boost from DiamondRock Hospitality’s previous quarterly dividend of $0.03. This represents a $0.32 annualized dividend and a yield of 4.60%. The ex-dividend date was Friday, March 28th. DiamondRock Hospitality’s payout ratio is currently 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.