MQS Management LLC Has $177,000 Position in DiamondRock Hospitality (NYSE:DRH)

MQS Management LLC reduced its stake in shares of DiamondRock Hospitality (NYSE:DRH) by 28.8% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 19,649 shares of the real estate investment trust’s stock after selling 7,945 shares during the quarter. DiamondRock Hospitality comprises about 5.0% of MQS Management LLC’s investment portfolio, making the stock its 14th largest position. MQS Management LLC’s holdings in DiamondRock Hospitality were worth $177,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Orion Portfolio Solutions LLC lifted its holdings in shares of DiamondRock Hospitality by 1.6% during 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 purchasing an additional 1,652 shares in the last quarter. Vert Asset Management LLC lifted its holdings in shares of DiamondRock Hospitality by 2.1% during the 4th quarter. Vert Asset Management LLC now owns 82,570 shares of the real estate investment trust’s stock valued at $746,000 after purchasing an additional 1,729 shares in the last quarter. Metis Global Partners LLC lifted its holdings in shares of DiamondRock Hospitality by 11.4% during the 4th quarter. Metis Global Partners LLC now owns 23,773 shares of the real estate investment trust’s stock valued at $215,000 after purchasing an additional 2,427 shares in the last quarter. Daiwa Securities Group Inc. lifted its holdings in shares of 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 purchasing an additional 2,598 shares in the last quarter. Finally, Van ECK Associates Corp lifted its holdings in shares of DiamondRock Hospitality by 8.4% during the 4th quarter. Van ECK Associates Corp now owns 39,187 shares of the real estate investment trust’s stock valued at $354,000 after purchasing an additional 3,027 shares in the last quarter.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on DRH. Stifel Nicolaus cut DiamondRock Hospitality from a “buy” rating to a “hold” rating and cut their price objective for the company from $10.75 to $10.25 in a report on Friday, November 22nd. 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 target price on the stock. in a research note on Friday, November 15th. Finally, Wells Fargo & Company cut their target price on 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 investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $10.05.

DiamondRock Hospitality Trading Up 4.2 %

NYSE DRH opened at $8.55 on Monday. The stock has a market capitalization of $1.78 billion, a price-to-earnings ratio of 30.52, a PEG ratio of 2.06 and a beta of 1.63. The stock’s 50 day moving average price is $8.68 and its two-hundred day moving average price is $8.88. 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 has a 52 week low of $7.74 and a 52 week high of $10.00.

DiamondRock Hospitality Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, March 28th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 3.74%. This is a boost from DiamondRock Hospitality’s previous quarterly dividend of $0.03. DiamondRock Hospitality’s dividend payout ratio is currently 188.24%.

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.