Allspring Global Investments Holdings LLC Reduces Position in DiamondRock Hospitality (NYSE:DRH)

Allspring Global Investments Holdings LLC lessened its stake in shares of DiamondRock Hospitality (NYSE:DRH) by 16.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 42,343 shares of the real estate investment trust’s stock after selling 8,048 shares during the period. Allspring Global Investments Holdings LLC’s holdings in DiamondRock Hospitality were worth $398,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the stock. Mirae Asset Global Investments Co. Ltd. grew its position in DiamondRock Hospitality by 6.8% during the 4th 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 grew its position in DiamondRock Hospitality by 5.3% during the 4th 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 grew its position in DiamondRock Hospitality by 7.9% during the 3rd 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 grew its position in DiamondRock Hospitality by 32.9% during the 3rd 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, Evergreen Capital Management LLC purchased a new stake in shares of DiamondRock Hospitality in the 3rd quarter valued at $90,000.

DiamondRock Hospitality Stock Performance

Shares of NYSE DRH opened at $9.06 on Friday. The company’s fifty day moving average price is $9.36 and its 200 day moving average price is $8.97. DiamondRock Hospitality has a 1 year low of $7.33 and a 1 year high of $9.99. The company has a market capitalization of $1.91 billion, a PE ratio of 25.15 and a beta of 1.60. 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 (NYSE:DRH) last announced its quarterly earnings results 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 firm 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 business’s quarterly revenue was up 3.3% on a year-over-year basis. During the same period last year, the company posted $0.23 earnings per share. On average, 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 disclosed a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Friday, March 29th were given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 1.33%. The ex-dividend date of this dividend was Wednesday, March 27th. DiamondRock Hospitality’s dividend payout ratio is presently 33.33%.

Wall Street Analyst Weigh In

Several analysts have recently commented on DRH shares. Stifel Nicolaus upped their price objective on shares of DiamondRock Hospitality from $10.00 to $10.50 and gave the company a “buy” rating in a report on Friday, February 23rd. Truist Financial upped their price objective on shares of DiamondRock Hospitality from $10.00 to $11.00 and gave the company a “hold” rating in a report on Thursday, March 14th. Wolfe Research started coverage on shares of DiamondRock Hospitality in a report on Wednesday, January 10th. They issued an “outperform” rating and a $11.00 price objective on the stock. Finally, StockNews.com downgraded shares of DiamondRock Hospitality from a “hold” rating to a “sell” rating in a report on Saturday, February 3rd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $10.30.

DiamondRock Hospitality Company 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.