Resona Asset Management Co. Ltd. Buys Shares of 82,217 DiamondRock Hospitality (NYSE:DRH)

Resona Asset Management Co. Ltd. purchased a new position in DiamondRock Hospitality (NYSE:DRH) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 82,217 shares of the real estate investment trust’s stock, valued at approximately $756,000.

A number of other institutional investors have also recently made changes to their positions in the stock. Smartleaf Asset Management LLC lifted its holdings in shares of DiamondRock Hospitality by 278.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 9,769 shares of the real estate investment trust’s stock worth $89,000 after acquiring an additional 7,189 shares during the last quarter. KBC Group NV raised its position in DiamondRock Hospitality by 55.9% during the fourth quarter. KBC Group NV now owns 10,436 shares of the real estate investment trust’s stock valued at $94,000 after purchasing an additional 3,744 shares in the last quarter. Xponance Inc. lifted its stake in 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 during the last quarter. Choreo LLC boosted its holdings in shares of DiamondRock Hospitality by 55.1% in the 4th quarter. Choreo LLC now owns 15,553 shares of the real estate investment trust’s stock worth $142,000 after purchasing an additional 5,523 shares in the last quarter. Finally, Landscape Capital Management L.L.C. purchased a new position in shares of DiamondRock Hospitality in the 4th quarter worth about $147,000.

DiamondRock Hospitality Stock Performance

NYSE DRH opened at $6.90 on Friday. The company has a 50-day simple moving average of $8.00 and a two-hundred day simple moving average of $8.69. DiamondRock Hospitality has a 12-month low of $6.19 and a 12-month high of $10.00. The firm has a market cap of $1.43 billion, a price-to-earnings ratio of 24.63, a PEG ratio of 2.06 and a beta of 1.38. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.66.

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 dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 4.64%. This is a positive change from DiamondRock Hospitality’s previous quarterly dividend of $0.03. The ex-dividend date of this dividend is Friday, March 28th. DiamondRock Hospitality’s dividend payout ratio (DPR) is presently 188.24%.

Analysts Set New Price Targets

Separately, Wells Fargo & Company dropped their target price on DiamondRock Hospitality from $10.50 to $9.50 and set an “equal weight” rating for the company in a research report on Tuesday, February 18th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price 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.