Parallel Advisors LLC Acquires 2,423 Shares of DiamondRock Hospitality (NYSE:DRH)

Parallel Advisors LLC increased its holdings in shares of DiamondRock Hospitality (NYSE:DRHFree Report) by 313.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,196 shares of the real estate investment trust’s stock after purchasing an additional 2,423 shares during the quarter. Parallel Advisors LLC’s holdings in DiamondRock Hospitality were worth $30,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Quadrant Capital Group LLC raised its position in shares of DiamondRock Hospitality by 195.7% during the fourth quarter. Quadrant Capital Group LLC now owns 3,330 shares of the real estate investment trust’s stock valued at $31,000 after buying an additional 2,204 shares during the last quarter. Evergreen Capital Management LLC bought a new stake in DiamondRock Hospitality in the 3rd quarter valued at $90,000. Metis Global Partners LLC increased its holdings in DiamondRock Hospitality by 19.4% in the 4th quarter. Metis Global Partners LLC now owns 14,309 shares of the real estate investment trust’s stock valued at $134,000 after acquiring an additional 2,324 shares during the last quarter. 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 purchasing an additional 1,181 shares during the last quarter. Finally, Jump Financial LLC boosted its holdings in shares of DiamondRock Hospitality by 80.8% during the 3rd quarter. Jump Financial LLC now owns 20,500 shares of the real estate investment trust’s stock valued at $165,000 after purchasing an additional 9,164 shares during the last quarter.

DiamondRock Hospitality Price Performance

Shares of DiamondRock Hospitality stock opened at $8.24 on Friday. The stock has a 50 day moving average price of $8.81 and a 200-day moving average price of $9.08. DiamondRock Hospitality has a one year low of $7.33 and a one year high of $9.99. The stock has a market cap of $1.73 billion, a price-to-earnings ratio of 22.89, a price-to-earnings-growth ratio of 6.15 and a beta of 1.59. The company has a debt-to-equity ratio of 0.71, a quick ratio of 2.04 and a current ratio of 2.04.

DiamondRock Hospitality Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Friday, June 28th will be given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 1.46%. The ex-dividend date is Friday, June 28th. DiamondRock Hospitality’s dividend payout ratio (DPR) is 33.33%.

Analyst Upgrades and Downgrades

DRH has been the topic of a number of research analyst reports. Truist Financial boosted their target price 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 raised shares of DiamondRock Hospitality from a “sell” rating to a “hold” rating in a report on Friday, May 3rd. Finally, Stifel Nicolaus upped their price target on shares of DiamondRock Hospitality from $10.00 to $10.50 and gave the company a “buy” rating in a research note on Friday, February 23rd. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, DiamondRock Hospitality currently has an average rating of “Hold” and a consensus target price of $10.30.

Check Out Our Latest Report on DRH

DiamondRock Hospitality Profile

(Free Report)

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.

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Institutional Ownership by Quarter for DiamondRock Hospitality (NYSE:DRH)

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