Mirae Asset Global Investments Co. Ltd. Has $938,000 Position in DiamondRock Hospitality (NYSE:DRH)

Mirae Asset Global Investments Co. Ltd. grew its position in DiamondRock Hospitality (NYSE:DRH) by 6.8% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 99,903 shares of the real estate investment trust’s stock after purchasing an additional 6,396 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in DiamondRock Hospitality were worth $938,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. National Bank of Canada FI bought a new stake in DiamondRock Hospitality during the 3rd quarter worth approximately $30,000. Evergreen Capital Management LLC acquired a new position in DiamondRock Hospitality during the third quarter worth $90,000. Jump Financial LLC raised its holdings in shares of DiamondRock Hospitality by 80.8% in the third quarter. Jump Financial LLC now owns 20,500 shares of the real estate investment trust’s stock valued at $165,000 after purchasing an additional 9,164 shares during the last quarter. Inspire Advisors LLC purchased a new stake in shares of DiamondRock Hospitality in the third quarter valued at about $170,000. Finally, QRG Capital Management Inc. purchased a new stake in shares of DiamondRock Hospitality in the third quarter valued at about $196,000.

DiamondRock Hospitality Trading Up 2.2 %

Shares of DRH opened at $9.15 on Wednesday. The firm’s 50 day simple moving average is $9.37 and its 200 day simple moving average is $8.96. The company has a market capitalization of $1.93 billion, a P/E ratio of 25.42 and a beta of 1.60. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.00 and a quick ratio of 2.00. DiamondRock Hospitality has a 1-year low of $7.33 and a 1-year high of $9.99.

DiamondRock Hospitality (NYSE:DRH) last posted its quarterly earnings results on Friday, February 23rd. The real estate investment trust reported $0.04 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 return on equity of 5.29% and a net margin of 8.03%. The company’s revenue was up 3.3% compared to the same quarter last year. During the same period last year, the business posted $0.23 earnings per share. Sell-side analysts forecast that DiamondRock Hospitality will post 0.96 earnings per share for the current fiscal year.

DiamondRock Hospitality Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Friday, March 29th were paid a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 1.31%. The ex-dividend date was Wednesday, March 27th. DiamondRock Hospitality’s payout ratio is 33.33%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on DRH. StockNews.com downgraded shares of DiamondRock Hospitality from a “hold” rating to a “sell” rating in a report on Saturday, February 3rd. Wolfe Research initiated coverage on shares of DiamondRock Hospitality in a research report on Wednesday, January 10th. They set an “outperform” rating and a $11.00 target price for the company. Truist Financial increased their target price on shares of DiamondRock Hospitality from $10.00 to $11.00 and gave the stock a “hold” rating in a research report on Thursday, March 14th. Finally, Stifel Nicolaus raised their price objective on shares of DiamondRock Hospitality from $10.00 to $10.50 and gave the company a “buy” rating in a research report on Friday, February 23rd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $10.30.

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.