Advisors Preferred LLC Acquires New Holdings in DiamondRock Hospitality (NYSE:DRH)

Advisors Preferred LLC purchased a new stake in shares of DiamondRock Hospitality (NYSE:DRH) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 463,159 shares of the real estate investment trust’s stock, valued at approximately $4,131,000. Advisors Preferred LLC owned 0.22% of DiamondRock Hospitality as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Wellington Management Group LLP increased its position in shares of DiamondRock Hospitality by 15.6% in the third quarter. Wellington Management Group LLP now owns 4,925,093 shares of the real estate investment trust’s stock worth $42,996,000 after acquiring an additional 663,529 shares in the last quarter. Jane Street Group LLC grew its holdings in shares of DiamondRock Hospitality by 73.0% during the third quarter. Jane Street Group LLC now owns 302,757 shares of the real estate investment trust’s stock valued at $2,643,000 after buying an additional 127,717 shares in the last quarter. Geode Capital Management LLC boosted its position in 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 worth $46,716,000 after acquiring an additional 28,391 shares during the period. Barclays PLC lifted its position in shares of DiamondRock Hospitality by 37.6% in the third quarter. Barclays PLC now owns 368,616 shares of the real estate investment trust’s stock worth $3,219,000 after purchasing an additional 100,805 shares in the last quarter. Finally, Holocene Advisors LP purchased a new position in DiamondRock Hospitality during the third quarter valued at approximately $568,000.

DiamondRock Hospitality Trading Down 0.6 %

DRH opened at $8.73 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. DiamondRock Hospitality has a 1-year low of $7.74 and a 1-year high of $10.00. The stock has a market capitalization of $1.81 billion, a PE ratio of 31.18, a PEG ratio of 4.88 and a beta of 1.57. The firm has a 50-day moving average price of $9.13 and a two-hundred day moving average price of $8.83.

DiamondRock Hospitality Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 14th. Shareholders of record on Tuesday, December 31st were given a dividend of $0.32 per share. This is a boost from DiamondRock Hospitality’s previous quarterly dividend of $0.03. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $1.28 annualized dividend and a dividend yield of 14.66%. DiamondRock Hospitality’s payout ratio is presently 42.86%.

Wall Street Analyst Weigh In

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

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.