Wolverine Asset Management LLC Sells 5,759 Shares of DiamondRock Hospitality (NYSE:DRH)

Wolverine Asset Management LLC lessened its position in shares of DiamondRock Hospitality (NYSE:DRH) by 6.4% in the fourth quarter, HoldingsChannel.com reports. The fund owned 84,288 shares of the real estate investment trust’s stock after selling 5,759 shares during the period. Wolverine Asset Management LLC’s holdings in DiamondRock Hospitality were worth $761,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in DRH. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of DiamondRock Hospitality by 35.1% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,153 shares of the real estate investment trust’s stock worth $73,000 after acquiring an additional 2,116 shares during the period. Harbor Capital Advisors Inc. bought a new stake in shares of DiamondRock Hospitality during the 3rd quarter worth approximately $74,000. KBC Group NV increased its position in DiamondRock Hospitality by 55.9% during the 4th quarter. KBC Group NV now owns 10,436 shares of the real estate investment trust’s stock worth $94,000 after purchasing an additional 3,744 shares in the last quarter. SG Americas Securities LLC acquired a new position in DiamondRock Hospitality during the 3rd quarter worth approximately $100,000. Finally, GSA Capital Partners LLP acquired a new position in DiamondRock Hospitality during the 3rd quarter worth approximately $126,000.

DiamondRock Hospitality Trading Down 3.8 %

Shares of NYSE DRH opened at $8.22 on Friday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.73 and a current ratio of 1.73. DiamondRock Hospitality has a 52-week low of $7.74 and a 52-week high of $10.00. The firm has a 50 day moving average price of $8.90 and a two-hundred day moving average price of $8.86. The stock has a market cap of $1.71 billion, a P/E ratio of 29.34, a price-to-earnings-growth ratio of 2.06 and a beta of 1.57.

DiamondRock Hospitality Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 14th. Shareholders of record on Tuesday, December 31st were given a $0.32 dividend. This is a boost from DiamondRock Hospitality’s previous quarterly dividend of $0.03. This represents a $1.28 annualized dividend and a yield of 15.58%. The ex-dividend date of this dividend was Tuesday, December 31st. DiamondRock Hospitality’s dividend payout ratio is 42.86%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Evercore ISI cut shares of DiamondRock Hospitality from an “outperform” rating to an “inline” rating and set a $10.50 price objective for the company. in a research report on Friday, November 15th. Stifel Nicolaus cut shares of DiamondRock Hospitality from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $10.75 to $10.25 in a research report on Friday, November 22nd. StockNews.com upgraded shares of DiamondRock Hospitality from a “sell” rating to a “hold” rating in a research report on Tuesday, November 12th. Finally, Wells Fargo & Company lowered their price objective on shares of DiamondRock Hospitality from $10.50 to $9.50 and set an “equal weight” rating for the company in a research report on Tuesday, February 18th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $10.05.

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.