Dana Investment Advisors Inc. Sells 40,103 Shares of DiamondRock Hospitality (NYSE:DRH)

Dana Investment Advisors Inc. reduced its holdings in shares of DiamondRock Hospitality (NYSE:DRH) by 5.4% in the 4th quarter, HoldingsChannel.com reports. The fund owned 695,809 shares of the real estate investment trust’s stock after selling 40,103 shares during the quarter. Dana Investment Advisors Inc.’s holdings in DiamondRock Hospitality were worth $6,283,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in the business. State Street Corp grew its position in shares of DiamondRock Hospitality by 1.8% in the third quarter. State Street Corp now owns 12,535,384 shares of the real estate investment trust’s stock valued at $109,806,000 after purchasing an additional 221,219 shares during the last quarter. Pzena Investment Management LLC boosted its position in shares of DiamondRock Hospitality by 3.6% in the third quarter. Pzena Investment Management LLC now owns 9,153,018 shares of the real estate investment trust’s stock valued at $79,906,000 after acquiring an additional 317,901 shares during the period. Rush Island Management LP acquired a new position in shares of DiamondRock Hospitality in the third quarter valued at about $51,726,000. Geode Capital Management LLC increased its position in DiamondRock Hospitality by 0.5% during the third quarter. Geode Capital Management LLC now owns 5,350,283 shares of the real estate investment trust’s stock worth $46,716,000 after acquiring an additional 28,391 shares during the period. Finally, Wellington Management Group LLP increased its position in DiamondRock Hospitality by 15.6% during the third quarter. Wellington Management Group LLP now owns 4,925,093 shares of the real estate investment trust’s stock worth $42,996,000 after acquiring an additional 663,529 shares during the period.

DiamondRock Hospitality Stock Performance

Shares of NYSE:DRH opened at $8.21 on Friday. DiamondRock Hospitality has a 1 year low of $7.74 and a 1 year high of $10.00. The stock has a market capitalization of $1.70 billion, a price-to-earnings ratio of 29.30, a price-to-earnings-growth ratio of 2.06 and a beta of 1.57. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.73 and a quick ratio of 1.73. The company’s 50 day simple moving average is $8.69 and its 200 day simple moving average is $8.87.

DiamondRock Hospitality Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 3.90%. The ex-dividend date of this dividend is Friday, March 28th. This is an increase from DiamondRock Hospitality’s previous quarterly dividend of $0.03. DiamondRock Hospitality’s dividend payout ratio (DPR) is currently 188.24%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on DRH. StockNews.com upgraded shares of DiamondRock Hospitality from a “sell” rating to a “hold” rating in a research report on Tuesday, November 12th. Stifel Nicolaus downgraded DiamondRock Hospitality from a “buy” rating to a “hold” rating and reduced their price target for the stock from $10.75 to $10.25 in a research report on Friday, November 22nd. Wells Fargo & Company dropped their price objective on DiamondRock Hospitality from $10.50 to $9.50 and set an “equal weight” rating for the company in a report on Tuesday, February 18th. Finally, Evercore ISI lowered DiamondRock Hospitality from an “outperform” rating to an “inline” rating and set a $10.50 target price on the stock. in a report on Friday, November 15th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average 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.