New York State Common Retirement Fund Has $2.28 Million Stake in DiamondRock Hospitality (DRH)

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New York State Common Retirement Fund lowered its stake in DiamondRock Hospitality (NYSE:DRH) by 4.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 251,416 shares of the real estate investment trust’s stock after selling 11,801 shares during the period. New York State Common Retirement Fund owned approximately 0.12% of DiamondRock Hospitality worth $2,283,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. California Public Employees Retirement System grew its holdings in shares of DiamondRock Hospitality by 0.9% during the 4th quarter. California Public Employees Retirement System now owns 650,259 shares of the real estate investment trust’s stock worth $5,904,000 after acquiring an additional 6,034 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its position in shares of DiamondRock Hospitality by 8.3% in the 4th quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 36,557 shares of the real estate investment trust’s stock worth $322,000 after purchasing an additional 2,800 shares in the last quarter. Eaton Vance Management boosted its position in shares of DiamondRock Hospitality by 4.5% in the 4th quarter. Eaton Vance Management now owns 36,678 shares of the real estate investment trust’s stock worth $333,000 after purchasing an additional 1,571 shares in the last quarter. Piedmont Investment Advisors Inc. boosted its position in shares of DiamondRock Hospitality by 3.3% in the 4th quarter. Piedmont Investment Advisors Inc. now owns 49,468 shares of the real estate investment trust’s stock worth $449,000 after purchasing an additional 1,597 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund bought a new stake in shares of DiamondRock Hospitality in the 4th quarter worth approximately $718,000.

A number of brokerages have recently commented on DRH. Goldman Sachs Group cut DiamondRock Hospitality from a “neutral” rating to a “sell” rating and set a $8.00 price target on the stock. in a research report on Thursday, January 10th. TheStreet raised DiamondRock Hospitality from a “c+” rating to a “b-” rating in a research report on Friday, February 15th. Deutsche Bank reissued a “hold” rating and issued a $12.00 price target on shares of DiamondRock Hospitality in a research report on Thursday, February 28th. Raymond James cut DiamondRock Hospitality from an “outperform” rating to a “market perform” rating in a research report on Tuesday, January 8th. Finally, Wells Fargo & Co reissued a “sell” rating on shares of DiamondRock Hospitality in a research report on Wednesday, March 6th. Five research analysts have rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the stock. DiamondRock Hospitality currently has an average rating of “Hold” and an average target price of $10.33.

DRH stock opened at $10.91 on Friday. The company has a market capitalization of $2.17 billion, a P/E ratio of 10.70, a price-to-earnings-growth ratio of 2.09 and a beta of 1.46. DiamondRock Hospitality has a 12-month low of $8.69 and a 12-month high of $12.99. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.52.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 12th. Investors of record on Friday, March 29th will be given a $0.125 dividend. The ex-dividend date of this dividend is Thursday, March 28th. This represents a $0.50 annualized dividend and a yield of 4.58%. DiamondRock Hospitality’s dividend payout ratio (DPR) is presently 49.02%.

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About DiamondRock Hospitality

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 such as Hilton and Marriott 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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