Public Sector Pension Investment Board Has $3.91 Million Holdings in DiamondRock Hospitality (NYSE:DRH)

Public Sector Pension Investment Board grew its holdings in shares of DiamondRock Hospitality (NYSE:DRH) by 7.6% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 462,211 shares of the real estate investment trust’s stock after buying an additional 32,536 shares during the period. Public Sector Pension Investment Board owned approximately 0.22% of DiamondRock Hospitality worth $3,906,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of DRH. Parallel Advisors LLC boosted its holdings in shares of DiamondRock Hospitality by 313.5% during the 4th quarter. Parallel Advisors LLC now owns 3,196 shares of the real estate investment trust’s stock worth $30,000 after buying an additional 2,423 shares in the last quarter. Headlands Technologies LLC bought a new position in shares of DiamondRock Hospitality during the 2nd quarter worth approximately $42,000. Choreo LLC bought a new position in shares of DiamondRock Hospitality during the 2nd quarter worth approximately $89,000. LDR Capital Management LLC boosted its holdings in shares of DiamondRock Hospitality by 25.5% during the 1st quarter. LDR Capital Management LLC now owns 13,244 shares of the real estate investment trust’s stock worth $127,000 after buying an additional 2,692 shares in the last quarter. Finally, BOKF NA boosted its holdings in shares of DiamondRock Hospitality by 83.8% during the 1st quarter. BOKF NA now owns 15,179 shares of the real estate investment trust’s stock worth $145,000 after buying an additional 6,920 shares in the last quarter.

Analysts Set New Price Targets

DRH has been the topic of a number of research analyst reports. StockNews.com upgraded DiamondRock Hospitality from a “sell” rating to a “hold” rating in a report on Saturday, August 10th. Truist Financial cut their target price on DiamondRock Hospitality from $11.00 to $10.00 and set a “hold” rating on the stock in a report on Wednesday, September 4th. Compass Point upgraded DiamondRock Hospitality from a “neutral” rating to a “buy” rating and set a $10.00 target price on the stock in a report on Monday, August 5th. Finally, Wells Fargo & Company cut their target price on DiamondRock Hospitality from $9.50 to $9.00 and set an “equal weight” rating on the stock in a report on Friday, September 13th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $9.92.

DiamondRock Hospitality Trading Up 0.1 %

NYSE DRH opened at $8.95 on Friday. The firm has a market capitalization of $1.88 billion, a P/E ratio of 24.86, a PEG ratio of 4.43 and a beta of 1.60. The business has a fifty day simple moving average of $8.42 and a 200 day simple moving average of $8.65. DiamondRock Hospitality has a 12 month low of $7.33 and a 12 month high of $9.99. The company has a current ratio of 2.03, a quick ratio of 2.03 and a debt-to-equity ratio of 0.71.

DiamondRock Hospitality (NYSE:DRH) last released its quarterly earnings results on Thursday, August 1st. The real estate investment trust reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.22). The company had revenue of $309.28 million during the quarter, compared to analysts’ expectations of $301.77 million. DiamondRock Hospitality had a net margin of 6.43% and a return on equity of 4.31%. The company’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.32 earnings per share. On average, analysts predict that DiamondRock Hospitality will post 0.98 EPS for the current fiscal year.

DiamondRock Hospitality Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Monday, September 30th will be given a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 1.34%. The ex-dividend date of this dividend is Monday, September 30th. DiamondRock Hospitality’s dividend payout ratio is presently 33.33%.

About DiamondRock Hospitality

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.