Van ECK Associates Corp Has $91,000 Stake in DiamondRock Hospitality (NYSE:DRH)

Van ECK Associates Corp lowered its holdings in DiamondRock Hospitality (NYSE:DRHGet Rating) by 36.5% during the third quarter, Holdings Channel.com reports. The firm owned 12,091 shares of the real estate investment trust’s stock after selling 6,935 shares during the period. Van ECK Associates Corp’s holdings in DiamondRock Hospitality were worth $91,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of DRH. Bank of New York Mellon Corp boosted its stake in DiamondRock Hospitality by 0.7% in the first quarter. Bank of New York Mellon Corp now owns 2,259,645 shares of the real estate investment trust’s stock worth $22,823,000 after purchasing an additional 16,663 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in DiamondRock Hospitality by 9.4% in the first quarter. PNC Financial Services Group Inc. now owns 13,193 shares of the real estate investment trust’s stock worth $133,000 after purchasing an additional 1,130 shares in the last quarter. Natixis Advisors L.P. acquired a new position in DiamondRock Hospitality in the first quarter worth $401,000. Bank of Montreal Can boosted its stake in DiamondRock Hospitality by 3.4% in the first quarter. Bank of Montreal Can now owns 85,133 shares of the real estate investment trust’s stock worth $884,000 after purchasing an additional 2,777 shares in the last quarter. Finally, MetLife Investment Management LLC boosted its stake in DiamondRock Hospitality by 68.5% in the first quarter. MetLife Investment Management LLC now owns 107,107 shares of the real estate investment trust’s stock worth $1,082,000 after purchasing an additional 43,548 shares in the last quarter.

Analysts Set New Price Targets

A number of equities analysts have commented on DRH shares. StockNews.com started coverage on DiamondRock Hospitality in a research note on Wednesday, October 12th. They issued a “hold” rating on the stock. Morgan Stanley cut their price target on DiamondRock Hospitality from $10.00 to $9.00 and set an “equal weight” rating on the stock in a research note on Wednesday. Evercore ISI raised DiamondRock Hospitality from an “in-line” rating to an “outperform” rating in a research note on Tuesday, October 18th. Finally, Compass Point cut their price target on DiamondRock Hospitality to $11.00 in a research note on Tuesday, November 15th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, DiamondRock Hospitality presently has an average rating of “Hold” and an average price target of $10.50.

DiamondRock Hospitality Trading Up 2.8 %

NYSE DRH opened at $8.90 on Friday. The stock has a 50-day simple moving average of $8.67 and a 200 day simple moving average of $8.72. The company has a market capitalization of $1.88 billion, a PE ratio of 24.72 and a beta of 1.63. The company has a current ratio of 3.29, a quick ratio of 3.29 and a debt-to-equity ratio of 0.85. DiamondRock Hospitality has a 12 month low of $7.18 and a 12 month high of $11.15.

DiamondRock Hospitality Announces Dividend

The business also recently disclosed a None dividend, which was paid on Thursday, January 12th. Investors of record on Friday, December 30th were issued a $0.06 dividend. The ex-dividend date of this dividend was Thursday, December 29th. This represents a yield of 1.3%. DiamondRock Hospitality’s dividend payout ratio is presently 33.33%.

DiamondRock Hospitality Company Profile

(Get Rating)

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 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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