Zurcher Kantonalbank Zurich Cantonalbank Sells 2,382 Shares of DiamondRock Hospitality (NYSE:DRH)

Zurcher Kantonalbank Zurich Cantonalbank cut its position in shares of DiamondRock Hospitality (NYSE:DRH) by 2.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 91,587 shares of the real estate investment trust’s stock after selling 2,382 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in DiamondRock Hospitality were worth $860,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. National Bank of Canada FI purchased a new position in shares of DiamondRock Hospitality during the third quarter worth approximately $30,000. SG Americas Securities LLC boosted its position in DiamondRock Hospitality by 189.7% during the third quarter. SG Americas Securities LLC now owns 159,854 shares of the real estate investment trust’s stock valued at $1,284,000 after buying an additional 104,666 shares during the period. Vert Asset Management LLC boosted its position in DiamondRock Hospitality by 27.0% during the third quarter. Vert Asset Management LLC now owns 87,299 shares of the real estate investment trust’s stock valued at $701,000 after buying an additional 18,549 shares during the period. Bailard Inc. grew its stake in shares of DiamondRock Hospitality by 82.0% during the third quarter. Bailard Inc. now owns 51,311 shares of the real estate investment trust’s stock valued at $412,000 after buying an additional 23,111 shares during the last quarter. Finally, Advisor Partners II LLC increased its holdings in shares of DiamondRock Hospitality by 133.6% in the third quarter. Advisor Partners II LLC now owns 25,990 shares of the real estate investment trust’s stock worth $209,000 after buying an additional 14,864 shares during the period.

DiamondRock Hospitality Stock Down 0.3 %

DRH stock 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 business has a fifty day moving average price of $9.36 and a 200-day moving average price of $8.98. The stock has a market capitalization of $1.91 billion, a P/E ratio of 25.14 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 (NYSE:DRH) last issued 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 company 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% on a year-over-year basis. During the same quarter last year, the company earned $0.23 EPS. Equities analysts forecast that DiamondRock Hospitality will post 0.96 earnings per share for the current fiscal year.

DiamondRock Hospitality Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 12th. Shareholders 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 annualized dividend and a yield of 1.33%. DiamondRock Hospitality’s payout ratio is 33.33%.

Wall Street Analyst Weigh In

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

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.