Advisors Preferred LLC Buys Shares of 463,159 DiamondRock Hospitality (NYSE:DRH)

Advisors Preferred LLC bought a new position in shares of DiamondRock Hospitality (NYSE:DRH) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 463,159 shares of the real estate investment trust’s stock, valued at approximately $4,131,000.

A number of other hedge funds also recently modified their holdings of DRH. Rush Island Management LP bought a new stake in DiamondRock Hospitality in the 3rd quarter valued at $51,726,000. Sumitomo Mitsui Trust Group Inc. lifted its stake in DiamondRock Hospitality by 458.3% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,300,414 shares of the real estate investment trust’s stock valued at $11,743,000 after acquiring an additional 1,067,497 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of DiamondRock Hospitality by 326.6% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,235,728 shares of the real estate investment trust’s stock valued at $10,788,000 after purchasing an additional 946,073 shares during the last quarter. Hotchkis & Wiley Capital Management LLC bought a new stake in shares of DiamondRock Hospitality in the third quarter worth $6,442,000. Finally, Wellington Management Group LLP grew its position in DiamondRock Hospitality by 15.6% in the third quarter. Wellington Management Group LLP now owns 4,925,093 shares of the real estate investment trust’s stock valued at $42,996,000 after purchasing an additional 663,529 shares in the last quarter.

DiamondRock Hospitality Price Performance

Shares of DRH opened at $8.73 on Friday. The firm has a market cap of $1.81 billion, a PE ratio of 31.18, a price-to-earnings-growth ratio of 4.88 and a beta of 1.57. DiamondRock Hospitality has a 52-week low of $7.74 and a 52-week high of $10.00. The business’s 50 day moving average price is $9.13 and its two-hundred day moving average price is $8.83. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.73 and a current ratio of 1.73.

DiamondRock Hospitality Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, January 14th. Shareholders of record on Tuesday, December 31st were issued a $0.32 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $1.28 annualized dividend and a yield of 14.66%. This is a positive change from DiamondRock Hospitality’s previous quarterly dividend of $0.03. DiamondRock Hospitality’s dividend payout ratio is presently 42.86%.

Analysts Set New Price Targets

Several analysts recently issued reports on DRH shares. StockNews.com upgraded DiamondRock Hospitality from a “sell” rating to a “hold” rating in a report on Tuesday, November 12th. Evercore ISI cut DiamondRock Hospitality from an “outperform” rating to an “inline” rating and set a $10.50 price objective for the company. in a report on Friday, November 15th. Wells Fargo & Company increased their target price on DiamondRock Hospitality from $10.00 to $10.50 and gave the stock an “equal weight” rating in a research note on Monday, December 9th. Finally, Stifel Nicolaus cut DiamondRock Hospitality from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $10.75 to $10.25 in a research report on Friday, November 22nd. 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, DiamondRock Hospitality has an average rating of “Hold” and an average target price of $10.25.

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.