Intech Investment Management LLC Buys 30,000 Shares of DiamondRock Hospitality (NYSE:DRH)

Intech Investment Management LLC boosted its stake in DiamondRock Hospitality (NYSE:DRH) by 36.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 112,739 shares of the real estate investment trust’s stock after acquiring an additional 30,000 shares during the period. Intech Investment Management LLC’s holdings in DiamondRock Hospitality were worth $1,018,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the stock. Orion Portfolio Solutions LLC raised its position in DiamondRock Hospitality by 1.6% in the third quarter. Orion Portfolio Solutions LLC now owns 104,965 shares of the real estate investment trust’s stock worth $916,000 after acquiring an additional 1,652 shares during the period. Vert Asset Management LLC raised its position in shares of DiamondRock Hospitality by 2.1% in the fourth quarter. Vert Asset Management LLC now owns 82,570 shares of the real estate investment trust’s stock valued at $746,000 after purchasing an additional 1,729 shares during the period. Metis Global Partners LLC raised its position in shares of DiamondRock Hospitality by 11.4% in the fourth quarter. Metis Global Partners LLC now owns 23,773 shares of the real estate investment trust’s stock valued at $215,000 after purchasing an additional 2,427 shares during the period. Daiwa Securities Group Inc. raised its position in shares of DiamondRock Hospitality by 3.9% in 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 purchasing an additional 2,598 shares during the period. Finally, Van ECK Associates Corp raised its position in shares of 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 purchasing an additional 3,027 shares during the period.

Wall Street Analyst Weigh In

Separately, Wells Fargo & Company lowered their price target on shares of DiamondRock Hospitality from $10.50 to $9.50 and set an “equal weight” rating on the stock in a research 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. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $10.05.

DiamondRock Hospitality Stock Performance

NYSE DRH opened at $7.90 on Friday. The company’s 50 day moving average is $8.49 and its 200-day moving average is $8.83. DiamondRock Hospitality has a 12-month low of $7.65 and a 12-month high of $10.00. 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 firm has a market cap of $1.64 billion, a P/E ratio of 28.20, a price-to-earnings-growth ratio of 2.06 and a beta of 1.63.

DiamondRock Hospitality Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, March 28th. This represents a $0.32 annualized dividend and a yield of 4.05%. This is a boost from DiamondRock Hospitality’s previous quarterly dividend of $0.03. DiamondRock Hospitality’s payout ratio is currently 188.24%.

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.