Fox Run Management L.L.C. Buys New Shares in DiamondRock Hospitality (NYSE:DRH)

Fox Run Management L.L.C. purchased a new position in shares of DiamondRock Hospitality (NYSE:DRH) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 43,739 shares of the real estate investment trust’s stock, valued at approximately $395,000.

Several other large investors have also added to or reduced their stakes in the company. Intech Investment Management LLC raised its stake in shares of DiamondRock Hospitality by 199.2% in the third quarter. Intech Investment Management LLC now owns 82,739 shares of the real estate investment trust’s stock worth $722,000 after purchasing an additional 55,086 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in DiamondRock Hospitality by 2.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,475,664 shares of the real estate investment trust’s stock worth $39,073,000 after buying an additional 103,209 shares during the last quarter. Daiwa Securities Group Inc. lifted its stake in DiamondRock Hospitality by 3.9% during the 3rd quarter. Daiwa Securities Group Inc. now owns 68,728 shares of the real estate investment trust’s stock valued at $600,000 after acquiring an additional 2,598 shares during the period. Quantbot Technologies LP lifted its stake in DiamondRock Hospitality by 20.5% during the 3rd quarter. Quantbot Technologies LP now owns 69,554 shares of the real estate investment trust’s stock valued at $607,000 after acquiring an additional 11,824 shares during the period. Finally, BNP Paribas Financial Markets boosted its holdings in shares of DiamondRock Hospitality by 46.0% in the 3rd quarter. BNP Paribas Financial Markets now owns 65,575 shares of the real estate investment trust’s stock valued at $572,000 after acquiring an additional 20,660 shares during the last quarter.

DiamondRock Hospitality Price Performance

NYSE:DRH opened at $7.89 on Thursday. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.73 and a quick ratio of 1.73. The company has a 50 day moving average price of $8.43 and a 200-day moving average price of $8.82. DiamondRock Hospitality has a 1-year low of $7.65 and a 1-year high of $10.00. The firm has a market cap of $1.64 billion, a price-to-earnings ratio of 28.16, 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. Shareholders of record on Friday, March 28th will be issued a $0.08 dividend. This is a boost from DiamondRock Hospitality’s previous quarterly dividend of $0.03. The ex-dividend date is Friday, March 28th. This represents a $0.32 dividend on an annualized basis and a yield of 4.06%. DiamondRock Hospitality’s payout ratio is presently 188.24%.

Wall Street Analyst Weigh In

Separately, Wells Fargo & Company reduced their target price 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. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, DiamondRock Hospitality has a consensus rating of “Hold” and a consensus target price of $10.05.

DiamondRock Hospitality Company 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.