Victory Capital Management Inc. Lowers Stake in DiamondRock Hospitality (NYSE:DRH)

Victory Capital Management Inc. cut its stake in DiamondRock Hospitality (NYSE:DRH) by 2.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,608,475 shares of the real estate investment trust’s stock after selling 73,538 shares during the quarter. Victory Capital Management Inc.’s holdings in DiamondRock Hospitality were worth $24,494,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Evergreen Capital Management LLC purchased a new position in DiamondRock Hospitality in the third quarter valued at about $90,000. Jump Financial LLC boosted its holdings 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 valued at $165,000 after buying an additional 9,164 shares in the last quarter. Inspire Advisors LLC purchased a new position in shares of DiamondRock Hospitality in the 3rd quarter worth approximately $170,000. QRG Capital Management Inc. bought a new position in shares of DiamondRock Hospitality during the 3rd quarter worth approximately $196,000. Finally, Advisor Partners II LLC lifted its position in DiamondRock Hospitality by 133.6% during the third quarter. Advisor Partners II LLC now owns 25,990 shares of the real estate investment trust’s stock valued at $209,000 after acquiring an additional 14,864 shares during the last quarter.

DiamondRock Hospitality Stock Performance

Shares of DRH opened at $8.42 on Thursday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 2.00 and a current ratio of 2.04. The stock has a 50-day moving average of $9.29 and a two-hundred day moving average of $9.02. The stock has a market cap of $1.77 billion, a P/E ratio of 23.39 and a beta of 1.61. DiamondRock Hospitality has a one year low of $7.33 and a one year high of $9.99.

DiamondRock Hospitality (NYSE:DRH) last released its earnings results on Friday, February 23rd. The real estate investment trust reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.14). DiamondRock Hospitality had a return on equity of 5.20% and a net margin of 7.86%. The firm had revenue of $263.50 million for the quarter, compared to analyst estimates of $261.45 million. During the same period last year, the firm earned $0.23 EPS. The company’s revenue for the quarter was up 3.3% compared to the same quarter last year. As a group, research analysts predict that DiamondRock Hospitality will post 0.96 EPS for the current year.

DiamondRock Hospitality Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Friday, March 29th were issued a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 1.43%. The ex-dividend date of this dividend was Wednesday, March 27th. DiamondRock Hospitality’s dividend payout ratio (DPR) is currently 33.33%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Truist Financial upped their price target on DiamondRock Hospitality from $10.00 to $11.00 and gave the stock a “hold” rating in a research report on Thursday, March 14th. StockNews.com upgraded DiamondRock Hospitality from a “sell” rating to a “hold” rating in a research note on Friday, May 3rd. Stifel Nicolaus raised their price target on DiamondRock Hospitality from $10.00 to $10.50 and gave the stock a “buy” rating in a report on Friday, February 23rd. Finally, Wolfe Research began coverage on shares of DiamondRock Hospitality in a report on Wednesday, January 10th. They set an “outperform” rating and a $11.00 price objective on the stock. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average 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.