Pzena Investment Management LLC Sells 552,227 Shares of DiamondRock Hospitality (NYSE:DRH)

Pzena Investment Management LLC lessened its holdings in shares of DiamondRock Hospitality (NYSE:DRH) by 6.0% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 8,600,791 shares of the real estate investment trust’s stock after selling 552,227 shares during the period. Pzena Investment Management LLC owned 4.14% of DiamondRock Hospitality worth $77,665,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in DRH. Van ECK Associates Corp grew its holdings in shares of DiamondRock Hospitality by 12.3% during the third quarter. Van ECK Associates Corp now owns 36,160 shares of the real estate investment trust’s stock worth $315,000 after purchasing an additional 3,969 shares during the last quarter. State of New Jersey Common Pension Fund D lifted its stake in shares of DiamondRock Hospitality by 3.7% during the third quarter. State of New Jersey Common Pension Fund D now owns 229,847 shares of the real estate investment trust’s stock valued at $2,007,000 after acquiring an additional 8,173 shares during the period. GSA Capital Partners LLP acquired a new position in shares of DiamondRock Hospitality during the third quarter valued at $126,000. Victory Capital Management Inc. lifted its stake in shares of DiamondRock Hospitality by 0.9% during the third quarter. Victory Capital Management Inc. now owns 2,642,787 shares of the real estate investment trust’s stock valued at $23,072,000 after acquiring an additional 24,249 shares during the period. Finally, Metis Global Partners LLC lifted its stake in shares of DiamondRock Hospitality by 29.6% during the third quarter. Metis Global Partners LLC now owns 21,346 shares of the real estate investment trust’s stock valued at $186,000 after acquiring an additional 4,878 shares during the period.

DiamondRock Hospitality Stock Down 2.3 %

NYSE:DRH opened at $8.35 on Tuesday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.73 and a current ratio of 1.73. The company has a market cap of $1.74 billion, a PE ratio of 29.80, a PEG ratio of 2.06 and a beta of 1.63. DiamondRock Hospitality has a 52-week low of $7.74 and a 52-week high of $10.00. The stock has a 50-day simple moving average of $8.66 and a 200 day simple moving average of $8.88.

DiamondRock Hospitality Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 3.83%. This is an increase from DiamondRock Hospitality’s previous quarterly dividend of $0.03. The ex-dividend date is Friday, March 28th. DiamondRock Hospitality’s dividend payout ratio (DPR) is currently 188.24%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on DRH. Wells Fargo & Company cut their target price on 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. Evercore ISI lowered DiamondRock Hospitality from an “outperform” rating to an “inline” rating and set a $10.50 price target on the stock. in a research report on Friday, November 15th. StockNews.com raised DiamondRock Hospitality from a “sell” rating to a “hold” rating in a research report on Tuesday, November 12th. Finally, Stifel Nicolaus lowered DiamondRock Hospitality from a “buy” rating to a “hold” rating and dropped their price target for the stock from $10.75 to $10.25 in a research report on Friday, November 22nd. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, DiamondRock Hospitality has a consensus rating of “Hold” and a consensus price target of $10.05.

About DiamondRock Hospitality

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.