Quantbot Technologies LP Buys 120,423 Shares of DiamondRock Hospitality (NYSE:DRH)

Quantbot Technologies LP boosted its position in DiamondRock Hospitality (NYSE:DRH) by 173.1% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 189,977 shares of the real estate investment trust’s stock after purchasing an additional 120,423 shares during the quarter. Quantbot Technologies LP’s holdings in DiamondRock Hospitality were worth $1,715,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. State Street Corp grew its position in shares of DiamondRock Hospitality by 1.8% in the 3rd quarter. State Street Corp now owns 12,535,384 shares of the real estate investment trust’s stock worth $109,806,000 after buying an additional 221,219 shares during the last quarter. Rush Island Management LP purchased a new position in DiamondRock Hospitality in the third quarter worth $51,726,000. Geode Capital Management LLC grew its holdings in DiamondRock Hospitality by 0.5% in the third quarter. Geode Capital Management LLC now owns 5,350,283 shares of the real estate investment trust’s stock worth $46,716,000 after purchasing an additional 28,391 shares during the last quarter. Wellington Management Group LLP increased its position in shares of DiamondRock Hospitality by 15.6% during 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 purchasing an additional 663,529 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of DiamondRock Hospitality by 1.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,557,580 shares of the real estate investment trust’s stock valued at $41,155,000 after purchasing an additional 81,916 shares during the last quarter.

DiamondRock Hospitality Trading Up 0.3 %

Shares of DiamondRock Hospitality stock opened at $7.93 on Tuesday. The firm’s 50 day simple moving average is $8.47 and its two-hundred day simple moving average is $8.83. The firm has a market capitalization of $1.65 billion, a price-to-earnings ratio of 28.30, a PEG ratio of 2.06 and a beta of 1.63. DiamondRock Hospitality has a 12-month low of $7.65 and a 12-month high of $10.00. 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 Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be paid a $0.08 dividend. This is a positive change from DiamondRock Hospitality’s previous quarterly dividend of $0.03. The ex-dividend date is Friday, March 28th. This represents a $0.32 dividend on an annualized basis and a yield of 4.04%. DiamondRock Hospitality’s dividend payout ratio (DPR) is 188.24%.

Analyst Upgrades and Downgrades

Separately, 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 research report on Tuesday, February 18th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price 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.