Vestcor Inc Purchases 188,858 Shares of DiamondRock Hospitality (NYSE:DRH)

Vestcor Inc boosted its position in DiamondRock Hospitality (NYSE:DRH) by 1,209.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 204,479 shares of the real estate investment trust’s stock after acquiring an additional 188,858 shares during the period. Vestcor Inc owned 0.10% of DiamondRock Hospitality worth $1,846,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in DiamondRock Hospitality by 45.2% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 138,327 shares of the real estate investment trust’s stock worth $1,249,000 after acquiring an additional 43,088 shares in the last quarter. AlphaQuest LLC bought a new position in DiamondRock Hospitality in the fourth quarter worth approximately $789,000. Amundi boosted its holdings in DiamondRock Hospitality by 44.0% in the fourth quarter. Amundi now owns 222,965 shares of the real estate investment trust’s stock worth $1,960,000 after acquiring an additional 68,100 shares in the last quarter. Raymond James Financial Inc. bought a new position in DiamondRock Hospitality in the fourth quarter worth approximately $1,816,000. Finally, Cbre Investment Management Listed Real Assets LLC purchased a new stake in shares of DiamondRock Hospitality in the fourth quarter worth approximately $14,889,000.

DiamondRock Hospitality Stock Performance

Shares of DRH opened at $7.91 on Friday. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $1.64 billion, a price-to-earnings ratio of 28.23, a PEG ratio of 2.06 and a beta of 1.63. The stock has a 50 day moving average of $8.57 and a 200 day moving average of $8.85. DiamondRock Hospitality has a 12 month low of $7.69 and a 12 month high of $10.00.

DiamondRock Hospitality Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 4.05%. This is an increase from DiamondRock Hospitality’s previous quarterly dividend of $0.03. The ex-dividend date is Friday, March 28th. DiamondRock Hospitality’s dividend payout ratio (DPR) is presently 188.24%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on DRH shares. Wells Fargo & Company lowered their price objective on DiamondRock Hospitality from $10.50 to $9.50 and set an “equal weight” rating for the company in a research note on Tuesday, February 18th. Stifel Nicolaus downgraded DiamondRock Hospitality from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $10.75 to $10.25 in a research note on Friday, November 22nd. Finally, Evercore ISI downgraded DiamondRock Hospitality from an “outperform” rating to an “inline” rating and set a $10.50 price objective for the company. in a research note on Friday, November 15th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target 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.