Daiwa Securities Group Inc. Sells 3,253 Shares of DiamondRock Hospitality (NYSE:DRH)

Daiwa Securities Group Inc. decreased its holdings in DiamondRock Hospitality (NYSE:DRH) by 4.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 63,676 shares of the real estate investment trust’s stock after selling 3,253 shares during the period. Daiwa Securities Group Inc.’s holdings in DiamondRock Hospitality were worth $598,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. Louisiana State Employees Retirement System purchased a new position in DiamondRock Hospitality in the 4th quarter worth approximately $985,000. Custom Index Systems LLC purchased a new position in shares of DiamondRock Hospitality in the fourth quarter worth $258,000. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of DiamondRock Hospitality by 6.8% during 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 acquiring an additional 6,396 shares during the last quarter. Diversified Trust Co grew its stake in DiamondRock Hospitality by 5.3% during the fourth quarter. Diversified Trust Co now owns 55,163 shares of the real estate investment trust’s stock valued at $518,000 after acquiring an additional 2,778 shares in the last quarter. Finally, Public Employees Retirement System of Ohio grew its stake in 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 in the last quarter.

DiamondRock Hospitality Stock Down 1.6 %

Shares of NYSE:DRH opened at $9.08 on Friday. The company has a market cap of $1.91 billion, a price-to-earnings ratio of 25.21 and a beta of 1.60. DiamondRock Hospitality has a 12 month low of $7.33 and a 12 month high of $9.99. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 0.71. The company has a 50-day moving average price of $9.36 and a 200 day moving average price of $8.96.

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 analysts’ consensus estimates of $0.18 by ($0.14). The company 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 company’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter last year, the company earned $0.23 earnings per share. As a group, equities research analysts predict that DiamondRock Hospitality will post 0.96 earnings per share for the current year.

DiamondRock Hospitality Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Friday, March 29th were given a $0.03 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $0.12 dividend on an annualized basis and a yield of 1.32%. DiamondRock Hospitality’s dividend payout ratio is presently 33.33%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on DRH. Stifel Nicolaus boosted their price target on shares of DiamondRock Hospitality from $10.00 to $10.50 and gave the stock a “buy” rating in a research note on Friday, February 23rd. Wolfe Research assumed coverage on DiamondRock Hospitality in a research report on Wednesday, January 10th. They issued an “outperform” rating and a $11.00 target price on the stock. StockNews.com cut DiamondRock Hospitality from a “hold” rating to a “sell” rating in a report on Saturday, February 3rd. Finally, Truist Financial upped their price objective on DiamondRock Hospitality from $10.00 to $11.00 and gave the stock a “hold” rating in a report on Thursday, March 14th. 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 data from MarketBeat, DiamondRock Hospitality currently has a consensus 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.