Strs Ohio Reduces Stock Position in DiamondRock Hospitality (NYSE:DRH)

Strs Ohio lowered its position in shares of DiamondRock Hospitality (NYSE:DRH) by 3.6% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 42,900 shares of the real estate investment trust’s stock after selling 1,600 shares during the quarter. Strs Ohio’s holdings in DiamondRock Hospitality were worth $402,000 at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Truist Financial raised 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. 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 report on Friday, February 23rd. Wolfe Research started coverage on shares of DiamondRock Hospitality in a research report on Wednesday, January 10th. They set an “outperform” rating and a $11.00 price target for the company. Finally, StockNews.com cut shares of DiamondRock Hospitality from a “hold” rating to a “sell” rating in a research report on Saturday, February 3rd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $10.30.

DiamondRock Hospitality Trading Down 0.3 %

Shares of NYSE DRH opened at $9.05 on Monday. DiamondRock Hospitality has a 1 year low of $7.33 and a 1 year high of $9.99. The stock has a market cap of $1.91 billion, a P/E ratio of 25.14 and a beta of 1.60. The firm has a 50-day moving average of $9.36 and a 200 day moving average of $8.98. 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 (NYSE:DRH) last released its quarterly earnings data on Friday, February 23rd. The real estate investment trust reported $0.04 earnings per share 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 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 firm’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.23 earnings per share. As a group, sell-side analysts expect that DiamondRock Hospitality will post 0.96 EPS for the current fiscal year.

DiamondRock Hospitality Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Friday, March 29th were paid a dividend of $0.03 per share. The ex-dividend date was Wednesday, March 27th. This represents a $0.12 dividend on an annualized basis and a yield of 1.33%. 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.