Allianz Asset Management GmbH Lowers Holdings in DiamondRock Hospitality Company $DRH

Allianz Asset Management GmbH lowered its position in shares of DiamondRock Hospitality Company (NYSE:DRH) by 28.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 613,634 shares of the real estate investment trust’s stock after selling 243,411 shares during the period. Allianz Asset Management GmbH owned about 0.30% of DiamondRock Hospitality worth $4,885,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Asset Management One Co. Ltd. lifted its position in shares of DiamondRock Hospitality by 0.6% during the 3rd quarter. Asset Management One Co. Ltd. now owns 295,567 shares of the real estate investment trust’s stock valued at $2,353,000 after buying an additional 1,792 shares in the last quarter. M&T Bank Corp raised its position in DiamondRock Hospitality by 9.4% during the second quarter. M&T Bank Corp now owns 21,298 shares of the real estate investment trust’s stock worth $163,000 after acquiring an additional 1,833 shares during the period. Daiwa Securities Group Inc. lifted its holdings in DiamondRock Hospitality by 2.7% during the second quarter. Daiwa Securities Group Inc. now owns 72,809 shares of the real estate investment trust’s stock valued at $558,000 after purchasing an additional 1,880 shares in the last quarter. Police & Firemen s Retirement System of New Jersey grew its position in shares of DiamondRock Hospitality by 4.7% in the second quarter. Police & Firemen s Retirement System of New Jersey now owns 47,102 shares of the real estate investment trust’s stock valued at $361,000 after purchasing an additional 2,129 shares during the period. Finally, Smartleaf Asset Management LLC increased its stake in shares of DiamondRock Hospitality by 33.8% during the second quarter. Smartleaf Asset Management LLC now owns 9,294 shares of the real estate investment trust’s stock worth $72,000 after purchasing an additional 2,349 shares in the last quarter.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Barclays started coverage on DiamondRock Hospitality in a report on Tuesday, January 6th. They issued an “equal weight” rating and a $10.00 price objective on the stock. Truist Financial upgraded DiamondRock Hospitality from a “hold” rating to a “buy” rating and boosted their price target for the stock from $10.00 to $11.00 in a research report on Friday, January 9th. Deutsche Bank Aktiengesellschaft raised DiamondRock Hospitality from a “hold” rating to a “buy” rating and increased their price objective for the company from $10.00 to $12.00 in a research note on Tuesday, January 13th. Evercore lifted their target price on shares of DiamondRock Hospitality from $9.00 to $10.00 and gave the stock an “in-line” rating in a research note on Thursday, November 20th. Finally, Morgan Stanley dropped their target price on shares of DiamondRock Hospitality from $9.00 to $8.50 and set an “equal weight” rating for the company in a report on Wednesday, October 22nd. Three analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $9.91.

DiamondRock Hospitality Trading Up 5.1%

Shares of DRH stock opened at $10.02 on Wednesday. The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 0.70. DiamondRock Hospitality Company has a twelve month low of $6.18 and a twelve month high of $10.04. The company’s 50-day moving average price is $9.22 and its 200-day moving average price is $8.57. The stock has a market cap of $2.04 billion, a price-to-earnings ratio of 40.08, a PEG ratio of 4.50 and a beta of 1.03.

DiamondRock Hospitality Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 14th. Investors of record on Wednesday, December 31st were given a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 3.2%. The ex-dividend date was Wednesday, December 31st. DiamondRock Hospitality’s dividend payout ratio is presently 128.00%.

DiamondRock Hospitality Company Profile

DiamondRock Hospitality Company is a real estate investment trust (REIT) that acquires, owns and manages a diversified portfolio of upscale, full-service hotels in urban gateway markets across the United States. Established in 2004 and headquartered in Bethesda, Maryland, the company focuses on investing in high-quality lodging properties that cater to both business and leisure travelers. Its assets are positioned in key metropolitan areas, enabling DiamondRock to benefit from strong demand drivers such as corporate travel, group conventions and resort leisure stays.

The company’s portfolio includes full-service hotels offering a broad range of amenities, including guest rooms, on-site food and beverage outlets, meeting and event space, fitness centers and spa services.