Hsbc Holdings PLC Grows Stake in DiamondRock Hospitality (DRH)

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Hsbc Holdings PLC grew its position in DiamondRock Hospitality (NYSE:DRH) by 596.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 183,757 shares of the real estate investment trust’s stock after acquiring an additional 157,370 shares during the quarter. Hsbc Holdings PLC owned about 0.09% of DiamondRock Hospitality worth $1,668,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Pearl River Capital LLC purchased a new position in shares of DiamondRock Hospitality in the fourth quarter valued at approximately $57,000. Dynamic Technology Lab Private Ltd acquired a new stake in shares of DiamondRock Hospitality in the third quarter valued at approximately $119,000. NumerixS Investment Technologies Inc increased its holdings in shares of DiamondRock Hospitality by 184.2% in the fourth quarter. NumerixS Investment Technologies Inc now owns 10,800 shares of the real estate investment trust’s stock valued at $98,000 after purchasing an additional 7,000 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of DiamondRock Hospitality in the fourth quarter valued at approximately $99,000. Finally, Jefferies Group LLC acquired a new stake in shares of DiamondRock Hospitality in the third quarter valued at approximately $140,000.

NYSE:DRH opened at $10.75 on Thursday. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $2.15 billion, a P/E ratio of 10.54, a P/E/G ratio of 2.07 and a beta of 1.46. DiamondRock Hospitality has a one year low of $8.69 and a one year high of $12.99.

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 12th. Shareholders of record on Friday, March 29th will be paid a dividend of $0.125 per share. The ex-dividend date is Thursday, March 28th. This represents a $0.50 annualized dividend and a yield of 4.65%. DiamondRock Hospitality’s dividend payout ratio (DPR) is 49.02%.

Several equities research analysts recently commented on the company. TheStreet raised DiamondRock Hospitality from a “c+” rating to a “b-” rating in a report on Friday, February 15th. Deutsche Bank reaffirmed a “hold” rating and issued a $12.00 price target on shares of DiamondRock Hospitality in a report on Thursday, February 28th. Barclays cut DiamondRock Hospitality from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $13.00 to $11.00 in a report on Tuesday, December 18th. Zacks Investment Research raised DiamondRock Hospitality from a “hold” rating to a “buy” rating and set a $10.00 price target for the company in a report on Thursday, January 3rd. Finally, ValuEngine cut DiamondRock Hospitality from a “hold” rating to a “sell” rating in a report on Wednesday, January 2nd. Five analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the stock. DiamondRock Hospitality has a consensus rating of “Hold” and an average target price of $10.33.

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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 top gateway markets and destination resort locations. The Company owns 30 premium quality hotels with over 9,900 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.

Read More: Return on Equity (ROE)

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

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