Smith Graham & Co. Investment Advisors LP Sells 8,620 Shares of DiamondRock Hospitality (DRH)

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Smith Graham & Co. Investment Advisors LP cut its stake in shares of DiamondRock Hospitality (NYSE:DRH) by 1.1% in the 1st quarter, Holdings Channel reports. The firm owned 785,099 shares of the real estate investment trust’s stock after selling 8,620 shares during the quarter. DiamondRock Hospitality accounts for 0.9% of Smith Graham & Co. Investment Advisors LP’s investment portfolio, making the stock its 29th biggest position. Smith Graham & Co. Investment Advisors LP’s holdings in DiamondRock Hospitality were worth $8,503,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of DiamondRock Hospitality by 2.3% during the third quarter. Vanguard Group Inc. now owns 31,517,952 shares of the real estate investment trust’s stock worth $367,814,000 after purchasing an additional 703,803 shares during the period. Vanguard Group Inc increased its stake in shares of DiamondRock Hospitality by 2.3% during the third quarter. Vanguard Group Inc now owns 31,517,952 shares of the real estate investment trust’s stock worth $367,814,000 after purchasing an additional 703,803 shares during the period. Northern Trust Corp increased its stake in shares of DiamondRock Hospitality by 0.7% during the fourth quarter. Northern Trust Corp now owns 6,968,763 shares of the real estate investment trust’s stock worth $63,277,000 after purchasing an additional 49,464 shares during the period. LSV Asset Management increased its stake in shares of DiamondRock Hospitality by 3.1% during the fourth quarter. LSV Asset Management now owns 4,778,544 shares of the real estate investment trust’s stock worth $43,389,000 after purchasing an additional 141,929 shares during the period. Finally, JPMorgan Chase & Co. increased its stake in shares of DiamondRock Hospitality by 5.9% during the third quarter. JPMorgan Chase & Co. now owns 3,997,125 shares of the real estate investment trust’s stock worth $46,647,000 after purchasing an additional 222,009 shares during the period.

DRH has been the topic of a number of recent research reports. Goldman Sachs Group lowered DiamondRock Hospitality from a “neutral” rating to a “sell” rating and set a $8.00 target price on the stock. in a research note on Thursday, January 10th. KeyCorp lowered DiamondRock Hospitality from a “sector weight” rating to an “underweight” rating and set a $8.00 target price on the stock. in a research note on Friday, January 25th. Raymond James lowered DiamondRock Hospitality from an “outperform” rating to a “market perform” rating in a research note on Tuesday, January 8th. ValuEngine upgraded DiamondRock Hospitality from a “sell” rating to a “hold” rating in a research note on Monday, February 4th. Finally, Zacks Investment Research lowered DiamondRock Hospitality from a “hold” rating to a “sell” rating in a research note on Monday, April 15th. Six research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the stock. DiamondRock Hospitality presently has an average rating of “Hold” and a consensus target price of $10.53.

Shares of DRH stock traded up $0.11 during trading hours on Tuesday, reaching $10.76. The company’s stock had a trading volume of 28,887 shares, compared to its average volume of 2,628,899. The company has a market cap of $2.18 billion, a PE ratio of 10.50, a P/E/G ratio of 2.14 and a beta of 1.46. DiamondRock Hospitality has a fifty-two week low of $8.69 and a fifty-two week high of $12.99. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.44 and a current ratio of 1.44.

The firm also recently announced a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Friday, March 29th were issued a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 4.65%. The ex-dividend date was Thursday, March 28th. DiamondRock Hospitality’s dividend payout ratio is presently 49.02%.

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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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