DiamondRock Hospitality Company (NYSE:DRH) Shares Sold by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC lessened its holdings in DiamondRock Hospitality Company (NYSE:DRH) by 12.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 57,642 shares of the real estate investment trust’s stock after selling 8,010 shares during the quarter. Nisa Investment Advisors LLC’s holdings in DiamondRock Hospitality were worth $450,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Versant Capital Management Inc increased its position in DiamondRock Hospitality by 156.3% in the first quarter. Versant Capital Management Inc now owns 3,699 shares of the real estate investment trust’s stock worth $29,000 after buying an additional 2,256 shares during the period. GF Fund Management CO. LTD. acquired a new stake in DiamondRock Hospitality in the fourth quarter worth $34,000. State of Wyoming acquired a new stake in DiamondRock Hospitality in the fourth quarter worth $54,000. FIL Ltd acquired a new stake in DiamondRock Hospitality in the fourth quarter worth $60,000. Finally, Caxton Associates LP acquired a new stake in DiamondRock Hospitality in the fourth quarter worth $92,000.

Analyst Ratings Changes

A number of research analysts have issued reports on DRH shares. Wells Fargo & Company upgraded DiamondRock Hospitality from a “strong sell” rating to a “hold” rating and boosted their price target for the stock from $7.75 to $8.25 in a research report on Tuesday, July 1st. Evercore ISI reduced their price target on 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. Stifel Nicolaus boosted their price target on DiamondRock Hospitality from $8.00 to $8.25 and gave the stock a “hold” rating in a research report on Friday, May 2nd. Morgan Stanley reduced their price target on 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. Finally, Bank of America upgraded DiamondRock Hospitality from an “underperform” rating to a “buy” rating and set a $9.50 price target for the company in a research report on Wednesday, April 30th. Six analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, DiamondRock Hospitality currently has a consensus rating of “Hold” and a consensus price target of $8.71.

DiamondRock Hospitality Stock Down 0.3%

Shares of DRH stock opened at $7.98 on Thursday. DiamondRock Hospitality Company has a 1 year low of $6.19 and a 1 year high of $10.00. The business’s fifty day moving average is $7.74 and its 200-day moving average is $7.96. The stock has a market cap of $1.65 billion, a PE ratio of 44.31, a price-to-earnings-growth ratio of 2.00 and a beta of 1.33. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.62 and a current ratio of 1.62.

DiamondRock Hospitality (NYSE:DRH) last announced its quarterly earnings data on Thursday, May 1st. The real estate investment trust reported $0.19 EPS for the quarter, beating analysts’ consensus estimates of $0.17 by $0.02. DiamondRock Hospitality had a return on equity of 3.18% and a net margin of 4.57%. The company had revenue of $254.85 million during the quarter, compared to the consensus estimate of $256.47 million. During the same quarter in the prior year, the firm earned $0.17 EPS. The company’s quarterly revenue was up .5% compared to the same quarter last year. Equities analysts expect that DiamondRock Hospitality Company will post 0.96 earnings per share for the current fiscal year.

DiamondRock Hospitality Cuts Dividend

The business also recently disclosed a dividend, which was paid on Friday, July 11th. Stockholders of record on Tuesday, July 1st were given a dividend of $0.08 per share. The ex-dividend date of this dividend was Monday, June 30th. This represents a dividend yield of 4.2%. DiamondRock Hospitality’s dividend payout ratio (DPR) is presently 177.78%.

DiamondRock Hospitality 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.