Nisa Investment Advisors LLC Sells 7,568 Shares of DiamondRock Hospitality (NYSE:DRH)

Nisa Investment Advisors LLC decreased its holdings in DiamondRock Hospitality (NYSE:DRH) by 8.5% in the fourth quarter, Holdings Channel reports. The fund owned 81,340 shares of the real estate investment trust’s stock after selling 7,568 shares during the quarter. Nisa Investment Advisors LLC’s holdings in DiamondRock Hospitality were worth $764,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. lifted its stake in DiamondRock Hospitality by 6.8% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 99,903 shares of the real estate investment trust’s stock worth $938,000 after purchasing an additional 6,396 shares during the last quarter. Diversified Trust Co lifted its stake in DiamondRock Hospitality by 5.3% in the fourth quarter. Diversified Trust Co now owns 55,163 shares of the real estate investment trust’s stock worth $518,000 after purchasing an additional 2,778 shares during the last quarter. Public Employees Retirement System of Ohio lifted its stake in DiamondRock Hospitality by 7.9% in the third quarter. Public Employees Retirement System of Ohio now owns 306,213 shares of the real estate investment trust’s stock worth $2,459,000 after purchasing an additional 22,438 shares during the last quarter. Hudson Bay Capital Management LP lifted its stake in DiamondRock Hospitality by 32.9% in the third quarter. Hudson Bay Capital Management LP now owns 465,949 shares of the real estate investment trust’s stock worth $3,742,000 after purchasing an additional 115,423 shares during the last quarter. Finally, Walleye Capital LLC bought a new stake in DiamondRock Hospitality in the third quarter worth about $260,000.

Analyst Ratings Changes

DRH has been the subject of several analyst reports. Wolfe Research initiated coverage on shares of DiamondRock Hospitality in a research note on Wednesday, January 10th. They issued an “outperform” rating and a $11.00 price objective for the company. Stifel Nicolaus lifted their price target on shares of DiamondRock Hospitality from $10.00 to $10.50 and gave the company a “buy” rating in a research note on Friday, February 23rd. StockNews.com downgraded shares of DiamondRock Hospitality from a “hold” rating to a “sell” rating in a research note on Saturday, February 3rd. Truist Financial lifted their price target on shares of DiamondRock Hospitality from $10.00 to $11.00 and gave the company a “hold” rating in a research note on Thursday, March 14th. Finally, Wells Fargo & Company lifted their price target on shares of DiamondRock Hospitality from $9.00 to $10.00 and gave the company an “equal weight” rating in a research note on Friday, December 22nd. One analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $10.30.

DiamondRock Hospitality Stock Performance

DiamondRock Hospitality stock opened at $8.99 on Wednesday. The company has a 50 day moving average price of $9.39 and a 200-day moving average price of $8.93. The company has a debt-to-equity ratio of 0.71, a quick ratio of 2.00 and a current ratio of 2.00. DiamondRock Hospitality has a fifty-two week low of $7.33 and a fifty-two week high of $9.99. The company has a market capitalization of $1.89 billion, a PE ratio of 24.97 and a beta of 1.60.

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

DiamondRock Hospitality Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Friday, March 29th were issued a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 1.33%. The ex-dividend date of this dividend was Wednesday, March 27th. DiamondRock Hospitality’s payout ratio is 33.33%.

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 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.