Wolverine Asset Management LLC Has $761,000 Stock Holdings in DiamondRock Hospitality (NYSE:DRH)

Wolverine Asset Management LLC cut its position in shares of DiamondRock Hospitality (NYSE:DRH) by 6.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 84,288 shares of the real estate investment trust’s stock after selling 5,759 shares during the period. Wolverine Asset Management LLC’s holdings in DiamondRock Hospitality were worth $761,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of DRH. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of DiamondRock Hospitality by 35.1% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,153 shares of the real estate investment trust’s stock worth $73,000 after purchasing an additional 2,116 shares during the last quarter. Harbor Capital Advisors Inc. acquired a new position in DiamondRock Hospitality in the 3rd quarter valued at about $74,000. KBC Group NV grew its stake in DiamondRock Hospitality by 55.9% in the 4th quarter. KBC Group NV now owns 10,436 shares of the real estate investment trust’s stock valued at $94,000 after buying an additional 3,744 shares during the last quarter. SG Americas Securities LLC acquired a new position in DiamondRock Hospitality in the 3rd quarter valued at about $100,000. Finally, GSA Capital Partners LLP acquired a new position in DiamondRock Hospitality in the 3rd quarter valued at about $126,000.

DiamondRock Hospitality Stock Performance

NYSE DRH opened at $8.22 on Friday. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $1.71 billion, a P/E ratio of 29.34, a P/E/G ratio of 2.06 and a beta of 1.57. DiamondRock Hospitality has a 12-month low of $7.74 and a 12-month high of $10.00. The firm has a 50-day moving average price of $8.90 and a two-hundred day moving average price of $8.86.

DiamondRock Hospitality Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 14th. Shareholders of record on Tuesday, December 31st were issued a $0.32 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $1.28 dividend on an annualized basis and a yield of 15.58%. This is an increase from DiamondRock Hospitality’s previous quarterly dividend of $0.03. DiamondRock Hospitality’s payout ratio is currently 42.86%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on DRH. StockNews.com upgraded shares of DiamondRock Hospitality from a “sell” rating to a “hold” rating in a research note on Tuesday, November 12th. Evercore ISI lowered shares of DiamondRock Hospitality from an “outperform” rating to an “inline” rating and set a $10.50 price target on the stock. in a research note on Friday, November 15th. Stifel Nicolaus lowered shares of DiamondRock Hospitality from a “buy” rating to a “hold” rating and decreased their price target for the company from $10.75 to $10.25 in a research note on Friday, November 22nd. Finally, Wells Fargo & Company decreased their price target on shares of DiamondRock Hospitality from $10.50 to $9.50 and set an “equal weight” rating on the stock in a research note 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. Based on data from MarketBeat.com, DiamondRock Hospitality currently has a consensus rating of “Hold” and a consensus target price of $10.05.

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.