EntryPoint Capital LLC Acquires Shares of 23,346 DiamondRock Hospitality (NYSE:DRH)

EntryPoint Capital LLC bought a new position in DiamondRock Hospitality (NYSE:DRH) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 23,346 shares of the real estate investment trust’s stock, valued at approximately $211,000.

Several other hedge funds and other institutional investors also recently modified their holdings of DRH. Prudential Financial Inc. boosted its holdings in DiamondRock Hospitality by 5.8% in the 4th quarter. Prudential Financial Inc. now owns 273,067 shares of the real estate investment trust’s stock worth $2,419,000 after buying an additional 15,048 shares during the period. LPL Financial LLC boosted its holdings in shares of DiamondRock Hospitality by 10.6% in the fourth quarter. LPL Financial LLC now owns 63,205 shares of the real estate investment trust’s stock worth $571,000 after acquiring an additional 6,071 shares during the period. Fox Run Management L.L.C. purchased a new position in shares of DiamondRock Hospitality in the fourth quarter valued at $395,000. KLP Kapitalforvaltning AS bought a new stake in shares of DiamondRock Hospitality during the 4th quarter valued at $400,000. Finally, American Century Companies Inc. raised its stake in shares of DiamondRock Hospitality by 11.2% during the 4th quarter. American Century Companies Inc. now owns 53,029 shares of the real estate investment trust’s stock valued at $479,000 after purchasing an additional 5,337 shares during the period.

Analysts Set New Price Targets

Separately, Wells Fargo & Company cut their target price on DiamondRock Hospitality from $10.50 to $9.50 and set an “equal weight” rating for the company in a research note on Tuesday, February 18th. Four investment 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 company currently has an average rating of “Hold” and a consensus target price of $10.05.

DiamondRock Hospitality Price Performance

NYSE:DRH opened at $7.64 on Friday. DiamondRock Hospitality has a 52-week low of $7.54 and a 52-week high of $10.00. 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 firm has a market capitalization of $1.59 billion, a price-to-earnings ratio of 27.30, a P/E/G ratio of 2.06 and a beta of 1.63. The stock has a fifty day moving average of $8.38 and a 200 day moving average of $8.81.

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 4.19%. The ex-dividend date of this dividend is Friday, March 28th. This is a boost from DiamondRock Hospitality’s previous quarterly dividend of $0.03. DiamondRock Hospitality’s payout ratio is currently 188.24%.

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 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.