DiamondRock Hospitality (NYSE:DRH) Stake Lessened by Orion Portfolio Solutions LLC

Orion Portfolio Solutions LLC decreased its holdings in shares of DiamondRock Hospitality (NYSE:DRH) by 1.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 103,424 shares of the real estate investment trust’s stock after selling 1,541 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in DiamondRock Hospitality were worth $934,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of the business. Smartleaf Asset Management LLC grew its stake in 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 valued at $89,000 after acquiring an additional 7,189 shares in the last quarter. KBC Group NV grew 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. increased its stake in DiamondRock Hospitality by 9.9% in the 4th quarter. Xponance Inc. now owns 15,098 shares of the real estate investment trust’s stock valued at $136,000 after buying an additional 1,360 shares during the period. Choreo LLC lifted its position in 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 buying an additional 5,523 shares in the last quarter. Finally, Cibc World Markets Corp acquired a new stake in shares of DiamondRock Hospitality during the 4th quarter valued at $175,000.

Analyst Ratings Changes

Separately, Wells Fargo & Company dropped 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 note on Tuesday, February 18th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $10.05.

DiamondRock Hospitality Stock Performance

DRH stock opened at $7.01 on Friday. The firm has a 50 day moving average of $8.24 and a two-hundred day moving average of $8.78. DiamondRock Hospitality has a 12 month low of $6.85 and a 12 month high of $10.00. The company has a market capitalization of $1.46 billion, a price-to-earnings ratio of 25.02, a P/E/G ratio of 2.06 and a beta of 1.63. 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 firm also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Shareholders 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 4.57%. This is an increase from DiamondRock Hospitality’s previous quarterly dividend of $0.03. The ex-dividend date is Friday, March 28th. DiamondRock Hospitality’s dividend payout ratio is presently 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.