Yousif Capital Management LLC Cuts Stake in DiamondRock Hospitality Company (NYSE:DRH)

Yousif Capital Management LLC cut its stake in shares of DiamondRock Hospitality Company (NYSE:DRH) by 3.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 55,612 shares of the real estate investment trust’s stock after selling 1,806 shares during the quarter. Yousif Capital Management LLC’s holdings in DiamondRock Hospitality were worth $429,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Nissay Asset Management Corp Japan ADV lifted its position in DiamondRock Hospitality by 4.0% during the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 31,738 shares of the real estate investment trust’s stock valued at $292,000 after purchasing an additional 1,216 shares during the period. Xponance Inc. raised its position in shares of DiamondRock Hospitality by 9.9% during the 4th quarter. Xponance Inc. now owns 15,098 shares of the real estate investment trust’s stock worth $136,000 after purchasing an additional 1,360 shares during the last quarter. Ancora Advisors LLC raised its position in shares of DiamondRock Hospitality by 0.9% during the 4th quarter. Ancora Advisors LLC now owns 164,150 shares of the real estate investment trust’s stock worth $1,482,000 after purchasing an additional 1,490 shares during the last quarter. Versant Capital Management Inc grew its stake in DiamondRock Hospitality by 156.3% during the 1st quarter. Versant Capital Management Inc now owns 3,699 shares of the real estate investment trust’s stock valued at $29,000 after acquiring an additional 2,256 shares in the last quarter. Finally, Metis Global Partners LLC grew its stake in DiamondRock Hospitality by 11.4% during the 4th quarter. Metis Global Partners LLC now owns 23,773 shares of the real estate investment trust’s stock valued at $215,000 after acquiring an additional 2,427 shares in the last quarter.

DiamondRock Hospitality Price Performance

Shares of NYSE:DRH opened at $7.63 on Friday. The company has a 50-day simple moving average of $7.47 and a 200-day simple moving average of $8.17. DiamondRock Hospitality Company has a one year low of $6.19 and a one year high of $10.00. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.62 and a current ratio of 1.62. The stock has a market capitalization of $1.57 billion, a price-to-earnings ratio of 42.36, a PEG ratio of 1.91 and a beta of 1.34.

DiamondRock Hospitality (NYSE:DRH) last issued its quarterly earnings results on Thursday, May 1st. The real estate investment trust reported $0.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.17 by $0.02. DiamondRock Hospitality had a net margin of 4.57% and a return on equity of 3.18%. The business had revenue of $254.85 million for the quarter, compared to analyst estimates of $256.47 million. During the same period in the previous year, the business posted $0.17 earnings per share. The business’s revenue was up .5% compared to the same quarter last year. On average, analysts predict that DiamondRock Hospitality Company will post 0.96 EPS for the current year.

DiamondRock Hospitality Cuts Dividend

The business also recently announced a dividend, which will be paid on Friday, July 11th. Shareholders of record on Tuesday, July 1st will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a yield of 4.2%. DiamondRock Hospitality’s payout ratio is currently 177.78%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Truist Financial cut their price target on shares of DiamondRock Hospitality from $10.00 to $9.00 and set a “hold” rating for the company in a report on Friday, May 30th. Stifel Nicolaus raised their price target on shares of DiamondRock Hospitality from $8.00 to $8.25 and gave the company a “hold” rating in a research report on Friday, May 2nd. Morgan Stanley decreased their price target on shares of DiamondRock Hospitality from $9.00 to $7.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 22nd. Bank of America raised shares of DiamondRock Hospitality from an “underperform” rating to a “buy” rating and set a $9.50 price objective for the company in a research report on Wednesday, April 30th. Finally, Evercore ISI decreased their price objective on shares of DiamondRock Hospitality from $10.00 to $9.00 and set an “in-line” rating for the company in a research report on Monday, April 28th. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $8.89.

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.