Envestnet Asset Management Inc. raised its holdings in DiamondRock Hospitality (NYSE:DRH) by 11.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 86,834 shares of the real estate investment trust’s stock after acquiring an additional 8,623 shares during the quarter. Envestnet Asset Management Inc.’s holdings in DiamondRock Hospitality were worth $890,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Municipal Employees Retirement System of Michigan lifted its holdings in DiamondRock Hospitality by 1.8% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 60,240 shares of the real estate investment trust’s stock valued at $623,000 after acquiring an additional 1,040 shares during the last quarter. Eii Capital Management Inc. lifted its stake in DiamondRock Hospitality by 1.5% during the second quarter. Eii Capital Management Inc. now owns 90,775 shares of the real estate investment trust’s stock valued at $939,000 after buying an additional 1,305 shares in the last quarter. Oregon Public Employees Retirement Fund lifted its stake in DiamondRock Hospitality by 1.7% during the second quarter. Oregon Public Employees Retirement Fund now owns 81,927 shares of the real estate investment trust’s stock valued at $847,000 after buying an additional 1,400 shares in the last quarter. Magnetar Financial LLC lifted its stake in DiamondRock Hospitality by 4.1% during the second quarter. Magnetar Financial LLC now owns 36,340 shares of the real estate investment trust’s stock valued at $376,000 after buying an additional 1,429 shares in the last quarter. Finally, First Hawaiian Bank lifted its stake in DiamondRock Hospitality by 8.3% during the third quarter. First Hawaiian Bank now owns 19,165 shares of the real estate investment trust’s stock valued at $197,000 after buying an additional 1,462 shares in the last quarter.

NYSE DRH opened at $10.30 on Friday. The company has a 50 day simple moving average of $10.07 and a 200-day simple moving average of $10.09. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.49 and a quick ratio of 1.49. The firm has a market capitalization of $2.09 billion, a price-to-earnings ratio of 10.10, a price-to-earnings-growth ratio of 2.06 and a beta of 1.35. DiamondRock Hospitality has a 52-week low of $8.69 and a 52-week high of $11.22.

The business also recently declared a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Monday, September 30th were given a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 4.85%. The ex-dividend date of this dividend was Friday, September 27th. DiamondRock Hospitality’s dividend payout ratio (DPR) is 49.02%.

A number of analysts have commented on DRH shares. ValuEngine lowered shares of DiamondRock Hospitality from a “hold” rating to a “sell” rating in a research note on Wednesday. Barclays reaffirmed a “hold” rating and set a $10.00 price objective on shares of DiamondRock Hospitality in a research note on Tuesday, August 13th. Wells Fargo & Co reaffirmed a “market perform” rating and set a $9.50 price objective on shares of DiamondRock Hospitality in a research note on Monday, August 19th. Zacks Investment Research lowered shares of DiamondRock Hospitality from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 18th. Finally, TheStreet lowered shares of DiamondRock Hospitality from a “b-” rating to a “c+” rating in a research note on Thursday, August 1st. Four equities research analysts have rated the stock with a sell rating and five have given a hold rating to the stock. DiamondRock Hospitality has an average rating of “Hold” and an average price target of $9.64.

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 top gateway markets and destination resort locations. The Company owns 31 premium quality hotels with over 10,000 rooms. The Company has strategically positioned its hotels to be operated both under leading global brand families such as Hilton and Marriott as well as unique boutique hotels in the lifestyle segment.

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

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