DiamondRock Hospitality (NYSE:DRH) Shares Sold by Asset Management One Co. Ltd.

Asset Management One Co. Ltd. trimmed its stake in shares of DiamondRock Hospitality (NYSE:DRH) by 3.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 320,436 shares of the real estate investment trust’s stock after selling 12,008 shares during the period. Asset Management One Co. Ltd.’s holdings in DiamondRock Hospitality were worth $3,060,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. State Board of Administration of Florida Retirement System lifted its stake in DiamondRock Hospitality by 101.1% during the third quarter. State Board of Administration of Florida Retirement System now owns 132,028 shares of the real estate investment trust’s stock valued at $1,060,000 after buying an additional 66,388 shares in the last quarter. Public Employees Retirement System of Ohio raised its holdings in shares of DiamondRock Hospitality by 7.9% during the third quarter. Public Employees Retirement System of Ohio now owns 306,213 shares of the real estate investment trust’s stock valued at $2,459,000 after acquiring an additional 22,438 shares during the period. Invesco Ltd. lifted its position in shares of DiamondRock Hospitality by 3.1% in the 3rd quarter. Invesco Ltd. now owns 5,455,648 shares of the real estate investment trust’s stock valued at $43,809,000 after acquiring an additional 165,142 shares in the last quarter. Diversified Trust Co boosted its stake in DiamondRock Hospitality by 4.2% in the 3rd quarter. Diversified Trust Co now owns 52,385 shares of the real estate investment trust’s stock worth $421,000 after purchasing an additional 2,108 shares during the period. Finally, Bamco Inc. NY purchased a new position in DiamondRock Hospitality during the 3rd quarter worth approximately $3,866,000.

Analyst Upgrades and Downgrades

Several analysts have recently commented on DRH shares. Wolfe Research began coverage on DiamondRock Hospitality in a research report on Wednesday, January 10th. They issued an “outperform” rating and a $11.00 target price for the company. Stifel Nicolaus raised their price objective on DiamondRock Hospitality from $10.00 to $10.50 and gave the stock a “buy” rating in a research report on Friday, February 23rd. Truist Financial upped their target price on DiamondRock Hospitality from $10.00 to $11.00 and gave the company a “hold” rating in a report on Thursday, March 14th. Wells Fargo & Company increased their price target on shares of DiamondRock Hospitality from $9.00 to $10.00 and gave the stock an “equal weight” rating in a research report on Friday, December 22nd. Finally, StockNews.com downgraded shares of DiamondRock Hospitality from a “hold” rating to a “sell” rating in a research report on Saturday, February 3rd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $10.30.

DiamondRock Hospitality Stock Down 1.9 %

Shares of DRH stock opened at $9.28 on Friday. The stock’s 50 day simple moving average is $9.39 and its 200 day simple moving average is $8.89. DiamondRock Hospitality has a twelve month low of $7.33 and a twelve month high of $9.99. The company has a debt-to-equity ratio of 0.71, a quick ratio of 2.00 and a current ratio of 2.00. The company has a market capitalization of $1.96 billion, a price-to-earnings ratio of 25.75 and a beta of 1.60.

DiamondRock Hospitality (NYSE:DRH) last released its quarterly earnings results on Friday, February 23rd. The real estate investment trust reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.14). The firm had revenue of $263.50 million during the quarter, compared to the consensus estimate of $261.45 million. DiamondRock Hospitality had a net margin of 8.03% and a return on equity of 5.29%. The company’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.23 EPS. As a group, research analysts predict that DiamondRock Hospitality will post 0.96 EPS for the current year.

DiamondRock Hospitality Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Friday, March 29th were given a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 1.29%. The ex-dividend date of this dividend was Wednesday, March 27th. DiamondRock Hospitality’s dividend payout ratio is currently 33.33%.

DiamondRock Hospitality 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.