Teacher Retirement System of Texas Acquires 2,525 Shares of DiamondRock Hospitality Company (NYSE:DRH)

Teacher Retirement System of Texas raised its holdings in shares of DiamondRock Hospitality Company (NYSE:DRH) by 4.9% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 53,632 shares of the real estate investment trust’s stock after acquiring an additional 2,525 shares during the period. Teacher Retirement System of Texas’ holdings in DiamondRock Hospitality were worth $414,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Nissay Asset Management Corp Japan ADV raised its holdings in shares of DiamondRock Hospitality by 4.0% in the 4th 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. grew its stake in DiamondRock Hospitality by 9.9% in the 4th quarter. Xponance Inc. now owns 15,098 shares of the real estate investment trust’s stock valued at $136,000 after buying an additional 1,360 shares during the last quarter. Ancora Advisors LLC grew its stake in DiamondRock Hospitality by 0.9% in the 4th quarter. Ancora Advisors LLC now owns 164,150 shares of the real estate investment trust’s stock valued at $1,482,000 after buying an additional 1,490 shares during the last quarter. Illinois Municipal Retirement Fund grew its stake in DiamondRock Hospitality by 1.8% in the 1st quarter. Illinois Municipal Retirement Fund now owns 107,860 shares of the real estate investment trust’s stock valued at $833,000 after buying an additional 1,873 shares during the last quarter. Finally, Versant Capital Management Inc grew its position in shares of 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 worth $29,000 after purchasing an additional 2,256 shares in the last quarter.

DiamondRock Hospitality Price Performance

Shares of NYSE:DRH opened at $7.92 on Friday. 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 firm has a fifty day moving average price of $7.74 and a 200 day moving average price of $7.96. DiamondRock Hospitality Company has a fifty-two week low of $6.19 and a fifty-two week high of $10.00. The firm has a market cap of $1.63 billion, a price-to-earnings ratio of 43.98, a P/E/G ratio of 1.97 and a beta of 1.33.

DiamondRock Hospitality (NYSE:DRH) last issued its quarterly earnings data on Thursday, May 1st. The real estate investment trust reported $0.19 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts’ expectations of $256.47 million. During the same period in the previous year, the firm posted $0.17 earnings per share. The firm’s revenue for the quarter was up .5% on a year-over-year basis. As a group, sell-side 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 declared a dividend, which was paid on Friday, July 11th. Investors of record on Tuesday, July 1st were paid a $0.08 dividend. This represents a yield of 4.2%. The ex-dividend date of this dividend was Monday, June 30th. DiamondRock Hospitality’s dividend payout ratio is presently 177.78%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Stifel Nicolaus boosted their price objective on DiamondRock Hospitality from $8.00 to $8.25 and gave the stock a “hold” rating in a research report on Friday, May 2nd. Truist Financial cut their price target on shares of DiamondRock Hospitality from $10.00 to $9.00 and set a “hold” rating on the stock in a report on Friday, May 30th. Bank of America upgraded DiamondRock Hospitality from an “underperform” rating to a “buy” rating and set a $9.50 price objective on the stock in a research note on Wednesday, April 30th. Evercore ISI dropped their price target on shares of DiamondRock Hospitality from $10.00 to $9.00 and set an “in-line” rating on the stock in a research note on Monday, April 28th. Finally, Wells Fargo & Company upgraded shares of DiamondRock Hospitality from a “strong sell” rating to a “hold” rating and increased their target price for the stock from $7.75 to $8.25 in a research note on Tuesday, July 1st. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, DiamondRock Hospitality presently has a consensus rating of “Hold” and a consensus target price of $8.71.

DiamondRock Hospitality Company 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.