Dimensional Fund Advisors LP Trims Stock Holdings in DiamondRock Hospitality (NYSE:DRH)

Dimensional Fund Advisors LP decreased its holdings in DiamondRock Hospitality (NYSE:DRH – Get Rating) by 2.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,882,793 shares of the real estate investment trust’s stock after selling 80,585 shares during the period. Dimensional Fund Advisors LP owned 1.37% of DiamondRock Hospitality worth $21,650,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. US Bancorp DE increased its stake in shares of DiamondRock Hospitality by 1,465.0% in the second quarter. US Bancorp DE now owns 7,778 shares of the real estate investment trust’s stock worth $64,000 after purchasing an additional 7,281 shares in the last quarter. Mizuho Securities USA LLC purchased a new position in shares of DiamondRock Hospitality in the third quarter worth about $83,000. Fox Run Management L.L.C. purchased a new position in DiamondRock Hospitality during the third quarter valued at approximately $84,000. Creative Planning purchased a new position in DiamondRock Hospitality during the third quarter valued at approximately $84,000. Finally, Scotia Capital Inc. purchased a new position in DiamondRock Hospitality during the second quarter valued at approximately $95,000.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Morgan Stanley boosted their price objective on shares of DiamondRock Hospitality from $9.00 to $9.50 and gave the company an “equal weight” rating in a research note on Tuesday, February 7th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of DiamondRock Hospitality from $12.00 to $11.00 in a research report on Wednesday, February 22nd. Wells Fargo & Company lifted their target price on shares of DiamondRock Hospitality from $10.00 to $10.50 and gave the company an “equal weight” rating in a research report on Thursday, February 2nd. Finally, Compass Point dropped their target price on shares of DiamondRock Hospitality to $11.00 in a research report on Tuesday, November 15th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $10.50.

DiamondRock Hospitality Trading Up 0.9 %

Shares of DRH opened at $8.80 on Monday. The firm has a market cap of $1.84 billion, a price-to-earnings ratio of 19.13 and a beta of 1.66. The company has a debt-to-equity ratio of 0.74, a quick ratio of 3.29 and a current ratio of 1.70. DiamondRock Hospitality has a fifty-two week low of $7.18 and a fifty-two week high of $11.15. The firm has a 50 day moving average price of $8.87 and a 200-day moving average price of $8.77.

DiamondRock Hospitality Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 12th. Stockholders of record on Friday, March 31st will be issued a $0.03 dividend. The ex-dividend date is Thursday, March 30th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.36%. DiamondRock Hospitality’s payout ratio is 26.09%.

About DiamondRock Hospitality

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DiamondRock Hospitality Co is a real estate investment trust which focuses on lodging properties. It engages in the acquisition, ownership, asset management, and renovation of hotels and resorts. Its brands include Autograph Collection Hotels, Courtyard Marriott, Hilton Garden Inn, Hilton Hotels & Resorts, JW Marriott, and Kimpton Hotels & Restaurants.