Texas Permanent School Fund trimmed its position in DiamondRock Hospitality (NYSE:DRH) by 7.4% in the 4th quarter, HoldingsChannel.com reports. The firm owned 135,399 shares of the real estate investment trust’s stock after selling 10,833 shares during the quarter. Texas Permanent School Fund’s holdings in DiamondRock Hospitality were worth $1,529,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Resolution Capital Ltd boosted its holdings in DiamondRock Hospitality by 8.0% in the 3rd quarter. Resolution Capital Ltd now owns 7,232,784 shares of the real estate investment trust’s stock valued at $79,199,000 after purchasing an additional 535,876 shares during the period. Prudential Financial Inc. boosted its holdings in DiamondRock Hospitality by 3.5% in the 3rd quarter. Prudential Financial Inc. now owns 6,010,323 shares of the real estate investment trust’s stock valued at $65,813,000 after purchasing an additional 200,537 shares during the period. Ameriprise Financial Inc. boosted its holdings in DiamondRock Hospitality by 15.1% in the 3rd quarter. Ameriprise Financial Inc. now owns 1,926,115 shares of the real estate investment trust’s stock valued at $21,090,000 after purchasing an additional 253,123 shares during the period. Asset Management One Co. Ltd. boosted its holdings in DiamondRock Hospitality by 1.7% in the 3rd quarter. Asset Management One Co. Ltd. now owns 520,659 shares of the real estate investment trust’s stock valued at $5,709,000 after purchasing an additional 8,692 shares during the period. Finally, Shell Asset Management Co. boosted its holdings in DiamondRock Hospitality by 133.6% in the 3rd quarter. Shell Asset Management Co. now owns 179,284 shares of the real estate investment trust’s stock valued at $2,273,000 after purchasing an additional 102,539 shares during the period.

Shares of DiamondRock Hospitality (NYSE:DRH) opened at $11.14 on Friday. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 0.51. The firm has a market cap of $2,231.40, a price-to-earnings ratio of 11.25, a PEG ratio of 2.24 and a beta of 1.35. DiamondRock Hospitality has a 52-week low of $10.43 and a 52-week high of $12.11.

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 12th. Stockholders of record on Friday, December 29th were given a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 4.49%. The ex-dividend date of this dividend was Thursday, December 28th. DiamondRock Hospitality’s dividend payout ratio (DPR) is currently 111.11%.

Several research analysts have commented on the stock. Robert W. Baird reissued a “buy” rating and issued a $12.00 price target on shares of DiamondRock Hospitality in a report on Friday, November 10th. Evercore ISI raised shares of DiamondRock Hospitality from an “in-line” rating to an “outperform” rating in a report on Monday, December 4th. TheStreet downgraded shares of DiamondRock Hospitality from a “b” rating to a “c+” rating in a report on Monday, November 6th. Boenning Scattergood raised shares of DiamondRock Hospitality from an “under perform” rating to a “neutral” rating in a report on Friday, December 8th. Finally, Zacks Investment Research downgraded shares of DiamondRock Hospitality from a “hold” rating to a “sell” rating in a report on Tuesday, October 31st. One analyst has rated the stock with a sell rating, four have given a hold rating and eight have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $12.00.

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About DiamondRock Hospitality

DiamondRock Hospitality Company is a real estate investment trust (REIT). As of December 31, 2016, the Company owned a portfolio of 26 hotels and resorts that contains 9,472 guest rooms located in 17 different markets in North America and the United States Virgin Islands. Its business is to acquire, own, asset manage and renovate hotel properties in the United States.

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Institutional Ownership by Quarter for DiamondRock Hospitality (NYSE:DRH)

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