Fisher Asset Management LLC Sells 56,783 Shares of DiamondRock Hospitality (NYSE:DRH)

Fisher Asset Management LLC cut its stake in DiamondRock Hospitality (NYSE:DRH) by 2.9% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 1,918,644 shares of the real estate investment trust’s stock after selling 56,783 shares during the quarter. Fisher Asset Management LLC’s holdings in DiamondRock Hospitality were worth $18,016,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. First Trust Direct Indexing L.P. boosted its holdings in shares of DiamondRock Hospitality by 8.8% during the 4th quarter. First Trust Direct Indexing L.P. now owns 14,660 shares of the real estate investment trust’s stock valued at $138,000 after buying an additional 1,181 shares in the last quarter. Van ECK Associates Corp boosted its stake in DiamondRock Hospitality by 19.7% during the fourth quarter. Van ECK Associates Corp now owns 29,473 shares of the real estate investment trust’s stock worth $277,000 after acquiring an additional 4,846 shares in the last quarter. Russell Investments Group Ltd. grew its holdings in DiamondRock Hospitality by 88.8% in the fourth quarter. Russell Investments Group Ltd. now owns 469,463 shares of the real estate investment trust’s stock worth $4,408,000 after purchasing an additional 220,847 shares during the period. Bailard Inc. increased its stake in shares of DiamondRock Hospitality by 38.2% during the fourth quarter. Bailard Inc. now owns 70,911 shares of the real estate investment trust’s stock valued at $666,000 after purchasing an additional 19,600 shares in the last quarter. Finally, Yousif Capital Management LLC lifted its holdings in shares of DiamondRock Hospitality by 8.1% during the fourth quarter. Yousif Capital Management LLC now owns 87,494 shares of the real estate investment trust’s stock valued at $822,000 after purchasing an additional 6,566 shares during the last quarter.

Analyst Ratings Changes

Several research firms recently weighed in on DRH. StockNews.com upgraded DiamondRock Hospitality from a “sell” rating to a “hold” rating in a research note on Friday. Stifel Nicolaus lifted 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. Truist Financial increased their price objective on shares of DiamondRock Hospitality from $10.00 to $11.00 and gave the company a “hold” rating in a research report on Thursday, March 14th. Finally, 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 target price for the company. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $10.30.

DiamondRock Hospitality Trading Up 0.7 %

Shares of DRH stock opened at $8.83 on Monday. DiamondRock Hospitality has a 1 year low of $7.33 and a 1 year high of $9.99. The firm has a fifty day moving average price of $9.32 and a 200-day moving average price of $9.01. The company has a market cap of $1.86 billion, a price-to-earnings ratio of 24.53 and a beta of 1.61. 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 results on Friday, February 23rd. The real estate investment trust reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.14). DiamondRock Hospitality had a net margin of 7.86% and a return on equity of 5.20%. The company had revenue of $263.50 million for the quarter, compared to the consensus estimate of $261.45 million. During the same period in the prior year, the firm posted $0.23 EPS. The business’s revenue for the quarter was up 3.3% on a year-over-year basis. As a group, equities analysts predict that DiamondRock Hospitality will post 0.96 earnings per share for the current 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 paid a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 1.36%. The ex-dividend date was Wednesday, March 27th. DiamondRock Hospitality’s payout ratio is 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.