Fisher Asset Management LLC Has $16.93 Million Position in DiamondRock Hospitality (NYSE:DRH)

Fisher Asset Management LLC lowered its stake in shares of DiamondRock Hospitality (NYSE:DRH) by 2.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,874,297 shares of the real estate investment trust’s stock after selling 44,347 shares during the quarter. Fisher Asset Management LLC owned about 0.90% of DiamondRock Hospitality worth $16,925,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in DRH. Mirae Asset Global Investments Co. Ltd. grew its position in DiamondRock Hospitality by 35.1% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,153 shares of the real estate investment trust’s stock worth $73,000 after buying an additional 2,116 shares in the last quarter. Harbor Capital Advisors Inc. acquired a new stake in DiamondRock Hospitality during the third quarter worth approximately $74,000. KBC Group NV grew its position in DiamondRock Hospitality by 55.9% during the fourth quarter. KBC Group NV now owns 10,436 shares of the real estate investment trust’s stock worth $94,000 after buying an additional 3,744 shares in the last quarter. GSA Capital Partners LLP acquired a new stake in DiamondRock Hospitality during the third quarter worth approximately $126,000. Finally, Choreo LLC grew its position in DiamondRock Hospitality by 55.1% during the fourth quarter. Choreo LLC now owns 15,553 shares of the real estate investment trust’s stock worth $142,000 after buying an additional 5,523 shares in the last quarter.

DiamondRock Hospitality Trading Down 0.1 %

Shares of DRH stock opened at $8.22 on Tuesday. The stock’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 cap of $1.71 billion, a PE ratio of 29.36, a P/E/G ratio of 2.06 and a beta of 1.57. 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 disclosed a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be issued a dividend of $0.08 per share. 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. This represents a $0.32 annualized dividend and a dividend yield of 3.89%. DiamondRock Hospitality’s dividend payout ratio (DPR) is 188.24%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on DRH shares. Stifel Nicolaus downgraded DiamondRock Hospitality from a “buy” rating to a “hold” rating and reduced their price target for the stock from $10.75 to $10.25 in a research report on Friday, November 22nd. Wells Fargo & Company reduced their target price on DiamondRock Hospitality from $10.50 to $9.50 and set an “equal weight” rating on the stock in a report on Tuesday, February 18th. StockNews.com raised 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 target price on the stock. in a report on Friday, November 15th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, DiamondRock Hospitality presently has an average rating of “Hold” and a consensus price target 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.