Vanderbilt University Buys 18,504 Shares of DiamondRock Hospitality (NYSE:DRH)

Vanderbilt University grew its position in shares of DiamondRock Hospitality (NYSE:DRH) by 126.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 33,091 shares of the real estate investment trust’s stock after buying an additional 18,504 shares during the quarter. Vanderbilt University’s holdings in DiamondRock Hospitality were worth $299,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. State Street Corp grew its stake in shares of DiamondRock Hospitality by 1.8% during the 3rd quarter. State Street Corp now owns 12,535,384 shares of the real estate investment trust’s stock valued at $109,806,000 after purchasing an additional 221,219 shares during the period. Pzena Investment Management LLC raised its position in DiamondRock Hospitality by 3.6% in the third quarter. Pzena Investment Management LLC now owns 9,153,018 shares of the real estate investment trust’s stock worth $79,906,000 after acquiring an additional 317,901 shares during the period. Rush Island Management LP purchased a new position in shares of DiamondRock Hospitality during the 3rd quarter worth $51,726,000. Geode Capital Management LLC grew its position in shares of DiamondRock Hospitality by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 5,350,283 shares of the real estate investment trust’s stock valued at $46,716,000 after acquiring an additional 28,391 shares during the period. Finally, Wellington Management Group LLP increased its stake in shares of DiamondRock Hospitality by 15.6% in the 3rd quarter. Wellington Management Group LLP now owns 4,925,093 shares of the real estate investment trust’s stock worth $42,996,000 after purchasing an additional 663,529 shares in the last quarter.

Analyst Ratings Changes

A number of analysts have commented on the company. Evercore ISI cut DiamondRock Hospitality from an “outperform” rating to an “inline” rating and set a $10.50 price target for the company. in a research report on Friday, November 15th. StockNews.com raised shares of DiamondRock Hospitality from a “sell” rating to a “hold” rating in a report on Tuesday, November 12th. Wells Fargo & Company lifted their price target on shares of DiamondRock Hospitality from $10.00 to $10.50 and gave the company an “equal weight” rating in a report on Monday, December 9th. Finally, Stifel Nicolaus cut shares of DiamondRock Hospitality from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $10.75 to $10.25 in a research note on Friday, November 22nd. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, DiamondRock Hospitality has an average rating of “Hold” and an average price target of $10.25.

DiamondRock Hospitality Price Performance

Shares of NYSE:DRH opened at $8.59 on Thursday. The firm has a market cap of $1.78 billion, a price-to-earnings ratio of 30.66, a P/E/G ratio of 4.88 and a beta of 1.57. The firm has a fifty day moving average price of $9.15 and a 200 day moving average price of $8.84. DiamondRock Hospitality has a fifty-two week low of $7.74 and a fifty-two week high of $10.00. 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 dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 14.91%. The ex-dividend date of this dividend was Tuesday, December 31st. This is a boost from DiamondRock Hospitality’s previous quarterly dividend of $0.03. DiamondRock Hospitality’s dividend payout ratio (DPR) is currently 42.86%.

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.