81,500 Shares in DiamondRock Hospitality (NYSE:DRH) Acquired by Bailard Inc.

Bailard Inc. bought a new position in DiamondRock Hospitality (NYSE:DRH) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 81,500 shares of the real estate investment trust’s stock, valued at approximately $736,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Orion Portfolio Solutions LLC grew its stake in shares of DiamondRock Hospitality by 1.6% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 104,965 shares of the real estate investment trust’s stock valued at $916,000 after buying an additional 1,652 shares during the period. Vert Asset Management LLC boosted its holdings in 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 worth $746,000 after acquiring an additional 1,729 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in DiamondRock Hospitality by 35.1% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,153 shares of the real estate investment trust’s stock valued at $73,000 after acquiring an additional 2,116 shares during the period. Metis Global Partners LLC increased its holdings in shares of 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 valued at $215,000 after acquiring an additional 2,427 shares in the last quarter. Finally, Daiwa Securities Group Inc. raised its position in shares of DiamondRock Hospitality by 3.9% during the third quarter. Daiwa Securities Group Inc. now owns 68,728 shares of the real estate investment trust’s stock worth $600,000 after purchasing an additional 2,598 shares during the period.

DiamondRock Hospitality Price Performance

DRH opened at $8.22 on Tuesday. The firm’s fifty day moving average price is $8.76 and its two-hundred day moving average price is $8.88. The company has a market capitalization of $1.71 billion, a price-to-earnings ratio of 29.36, a P/E/G ratio of 2.06 and a beta of 1.57. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.73 and a quick ratio of 1.73. DiamondRock Hospitality has a 1 year low of $7.74 and a 1 year high of $10.00.

DiamondRock Hospitality Increases Dividend

The company 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 represents a $0.32 dividend on an annualized basis and a yield of 3.89%. 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. DiamondRock Hospitality’s dividend payout ratio is presently 188.24%.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Stifel Nicolaus downgraded shares of DiamondRock Hospitality from a “buy” rating to a “hold” rating and reduced their price target for the company from $10.75 to $10.25 in a research report on Friday, November 22nd. Wells Fargo & Company reduced their price objective on shares of DiamondRock Hospitality from $10.50 to $9.50 and set an “equal weight” rating for the company in a report on Tuesday, February 18th. StockNews.com upgraded shares of DiamondRock Hospitality from a “sell” rating to a “hold” rating in a report on Tuesday, November 12th. Finally, Evercore ISI downgraded DiamondRock Hospitality from an “outperform” rating to an “inline” rating and set a $10.50 price target for the company. in a research note on Friday, November 15th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, DiamondRock Hospitality has an average rating of “Hold” and an average target price of $10.05.

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.