Bokf Na purchased a new position in DiamondRock Hospitality (NYSE:DRH – Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 7,017 shares of the real estate investment trust’s stock, valued at approximately $56,000.
Other large investors also recently added to or reduced their stakes in the company. Centersquare Investment Management LLC boosted its holdings in shares of DiamondRock Hospitality by 166.0% during the 2nd quarter. Centersquare Investment Management LLC now owns 6,699,705 shares of the real estate investment trust’s stock worth $53,665,000 after purchasing an additional 4,181,147 shares during the last quarter. Pzena Investment Management LLC grew its holdings in shares of DiamondRock Hospitality by 45.0% during the 2nd quarter. Pzena Investment Management LLC now owns 8,909,183 shares of the real estate investment trust’s stock worth $71,363,000 after purchasing an additional 2,766,782 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of DiamondRock Hospitality by 133.3% in the 1st quarter. JPMorgan Chase & Co. now owns 4,720,222 shares of the real estate investment trust’s stock worth $38,376,000 after acquiring an additional 2,697,132 shares during the last quarter. Heitman Real Estate Securities LLC acquired a new position in DiamondRock Hospitality during the 1st quarter worth $18,643,000. Finally, Norges Bank purchased a new stake in DiamondRock Hospitality during the 4th quarter worth about $16,550,000.
Wall Street Analyst Weigh In
A number of analysts recently weighed in on DRH shares. Truist Financial cut their target price on shares of DiamondRock Hospitality from $11.00 to $10.00 and set a “hold” rating on the stock in a research note on Friday, September 15th. Wells Fargo & Company cut their price target on DiamondRock Hospitality from $10.00 to $9.50 and set an “overweight” rating on the stock in a research note on Monday, November 13th. StockNews.com started coverage on DiamondRock Hospitality in a research report on Thursday, October 5th. They set a “sell” rating for the company. Finally, Morgan Stanley raised their target price on DiamondRock Hospitality from $8.50 to $9.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 7th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $9.50.
DiamondRock Hospitality Stock Performance
NYSE DRH traded down $0.03 during trading hours on Monday, hitting $8.39. The company had a trading volume of 556,413 shares, compared to its average volume of 2,184,069. The business has a 50 day moving average of $8.03 and a 200-day moving average of $8.04. The company has a market cap of $1.76 billion, a PE ratio of 21.59 and a beta of 1.62. DiamondRock Hospitality has a 1-year low of $7.14 and a 1-year high of $10.02. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.82 and a current ratio of 1.82.
DiamondRock Hospitality Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Thursday, October 12th. Investors of record on Friday, September 29th were given a $0.03 dividend. The ex-dividend date of this dividend was Thursday, September 28th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.43%. DiamondRock Hospitality’s dividend payout ratio (DPR) is presently 30.77%.
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.
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