Hsbc Holdings PLC Increases Stake in DiamondRock Hospitality (NYSE:DRH)

Hsbc Holdings PLC lifted its stake in shares of DiamondRock Hospitality (NYSE:DRHFree Report) by 16.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 107,250 shares of the real estate investment trust’s stock after buying an additional 14,900 shares during the quarter. Hsbc Holdings PLC owned about 0.05% of DiamondRock Hospitality worth $1,007,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently modified their holdings of the company. Quadrant Capital Group LLC increased 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 period. Evergreen Capital Management LLC purchased a new stake in DiamondRock Hospitality in the third quarter worth about $90,000. Metis Global Partners LLC grew its holdings in DiamondRock Hospitality by 19.4% in the fourth quarter. Metis Global Partners LLC now owns 14,309 shares of the real estate investment trust’s stock worth $134,000 after purchasing an additional 2,324 shares during the period. First Trust Direct Indexing L.P. grew its holdings in DiamondRock Hospitality by 8.8% in the fourth quarter. First Trust Direct Indexing L.P. now owns 14,660 shares of the real estate investment trust’s stock worth $138,000 after purchasing an additional 1,181 shares during the period. Finally, Jump Financial LLC grew its holdings in DiamondRock Hospitality by 80.8% in the third 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.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on DRH shares. Truist Financial upped their price objective 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. StockNews.com upgraded 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 objective on shares of DiamondRock Hospitality from $10.00 to $10.50 and gave the stock a “buy” rating in a report 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 company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $10.30.

Get Our Latest Research Report on DRH

DiamondRock Hospitality Trading Down 1.3 %

Shares of NYSE DRH opened at $8.24 on Monday. The firm’s 50 day moving average price is $8.81 and its 200-day moving average price is $9.08. The company has a market cap of $1.73 billion, a PE ratio of 22.89, a P/E/G ratio of 6.07 and a beta of 1.59. DiamondRock Hospitality has a 52-week low of $7.33 and a 52-week high of $9.99. 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 announced a quarterly dividend, which will be paid on Friday, July 12th. Stockholders of record on Friday, June 28th will be paid a $0.03 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $0.12 annualized dividend and a dividend yield of 1.46%. DiamondRock Hospitality’s dividend payout ratio is presently 33.33%.

DiamondRock Hospitality Company 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.

See Also

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

Receive News & Ratings for DiamondRock Hospitality Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for DiamondRock Hospitality and related companies with MarketBeat.com's FREE daily email newsletter.