Inspire Advisors LLC Takes $199,000 Position in DiamondRock Hospitality (NYSE:DRH)

Inspire Advisors LLC purchased a new position in shares of DiamondRock Hospitality (NYSE:DRH) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 20,664 shares of the real estate investment trust’s stock, valued at approximately $199,000.

Several other hedge funds have also made changes to their positions in DRH. Norges Bank bought a new stake in DiamondRock Hospitality in the fourth quarter valued at $13,301,000. Centersquare Investment Management LLC raised its holdings in shares of DiamondRock Hospitality by 17.0% during the fourth quarter. Centersquare Investment Management LLC now owns 4,492,910 shares of the real estate investment trust’s stock valued at $42,188,000 after buying an additional 652,095 shares during the last quarter. Paralel Advisors LLC bought a new position in DiamondRock Hospitality in the 4th quarter worth approximately $2,352,000. Russell Investments Group Ltd. increased its position in DiamondRock Hospitality by 88.8% in the 4th quarter. Russell Investments Group Ltd. now owns 469,463 shares of the real estate investment trust’s stock valued at $4,408,000 after acquiring an additional 220,847 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of DiamondRock Hospitality by 4.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,516,452 shares of the real estate investment trust’s stock valued at $42,409,000 after purchasing an additional 190,136 shares during the period.

DiamondRock Hospitality Price Performance

NYSE:DRH opened at $8.67 on Wednesday. DiamondRock Hospitality has a 52-week low of $7.33 and a 52-week high of $9.99. The company has a quick ratio of 2.04, a current ratio of 2.04 and a debt-to-equity ratio of 0.71. The firm has a market cap of $1.82 billion, a P/E ratio of 24.08, a PEG ratio of 6.27 and a beta of 1.60. The business’s 50-day moving average price is $8.37 and its 200 day moving average price is $8.97.

DiamondRock Hospitality Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, July 12th. Investors of record on Friday, June 28th were issued a $0.03 dividend. The ex-dividend date was Friday, June 28th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.38%. DiamondRock Hospitality’s payout ratio is currently 33.33%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised shares of DiamondRock Hospitality from a “sell” rating to a “hold” rating in a research note on Friday, May 3rd. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $10.30.

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.