Lasalle Investment Management Securities LLC Trims Stake in DiamondRock Hospitality Company $DRH

Lasalle Investment Management Securities LLC reduced its holdings in shares of DiamondRock Hospitality Company (NYSE:DRH) by 13.3% in the fourth quarter, Holdings Channel reports. The institutional investor owned 1,130,355 shares of the real estate investment trust’s stock after selling 173,274 shares during the period. Lasalle Investment Management Securities LLC’s holdings in DiamondRock Hospitality were worth $10,128,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Allworth Financial LP increased its holdings in DiamondRock Hospitality by 146.0% during the fourth quarter. Allworth Financial LP now owns 2,859 shares of the real estate investment trust’s stock valued at $26,000 after buying an additional 1,697 shares during the last quarter. First Horizon Corp boosted its position in shares of DiamondRock Hospitality by 54.9% in the fourth quarter. First Horizon Corp now owns 3,214 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 1,139 shares during the period. EverSource Wealth Advisors LLC boosted its position in shares of DiamondRock Hospitality by 77.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 3,436 shares of the real estate investment trust’s stock worth $31,000 after purchasing an additional 1,498 shares during the period. Global Retirement Partners LLC boosted its position in shares of DiamondRock Hospitality by 12,114.7% in the fourth quarter. Global Retirement Partners LLC now owns 4,153 shares of the real estate investment trust’s stock worth $37,000 after purchasing an additional 4,119 shares during the period. Finally, Danske Bank A S bought a new position in shares of DiamondRock Hospitality in the third quarter worth approximately $33,000.

DiamondRock Hospitality Price Performance

Shares of NYSE:DRH opened at $10.99 on Monday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.64 and a current ratio of 1.64. DiamondRock Hospitality Company has a fifty-two week low of $7.39 and a fifty-two week high of $11.27. The firm has a fifty day moving average price of $10.19 and a 200 day moving average price of $9.64. The firm has a market cap of $2.25 billion, a price-to-earnings ratio of 43.96, a P/E/G ratio of 4.50 and a beta of 0.99.

DiamondRock Hospitality (NYSE:DRH) last released its quarterly earnings data on Thursday, February 26th. The real estate investment trust reported $0.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.03. DiamondRock Hospitality had a return on equity of 4.04% and a net margin of 5.69%.The business had revenue of $274.53 million for the quarter, compared to the consensus estimate of $273.18 million. During the same quarter in the previous year, the company posted $0.24 EPS. The company’s revenue was down 1.6% compared to the same quarter last year. 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 Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 14th. Shareholders of record on Tuesday, June 30th will be paid a $0.09 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $0.36 dividend on an annualized basis and a yield of 3.3%. DiamondRock Hospitality’s payout ratio is presently 76.60%.

Insider Buying and Selling at DiamondRock Hospitality

In other DiamondRock Hospitality news, Director Michael A. Hartmeier sold 20,000 shares of the stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $10.46, for a total transaction of $209,200.00. Following the completion of the transaction, the director owned 95,354 shares in the company, valued at $997,402.84. This trade represents a 17.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Steve Spierto sold 4,000 shares of the stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $9.93, for a total transaction of $39,720.00. Following the transaction, the chief accounting officer owned 77,977 shares of the company’s stock, valued at $774,311.61. This trade represents a 4.88% decrease in their position. The SEC filing for this sale provides additional information. 0.90% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on DRH shares. Citigroup upped their price target on shares of DiamondRock Hospitality from $9.50 to $11.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 6th. LADENBURG THALM/SH SH started coverage on shares of DiamondRock Hospitality in a research report on Thursday, March 26th. They issued a “buy” rating and a $12.00 price target for the company. Wells Fargo & Company upped their price target on shares of DiamondRock Hospitality from $10.00 to $11.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 22nd. Stifel Nicolaus upped their price target on shares of DiamondRock Hospitality from $11.00 to $11.25 and gave the stock a “hold” rating in a research report on Monday, May 11th. Finally, Morgan Stanley upped their target price on shares of DiamondRock Hospitality from $9.50 to $9.60 and gave the stock an “equal weight” rating in a research report on Tuesday, May 12th. Three equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, DiamondRock Hospitality has a consensus rating of “Hold” and an average price target of $10.98.

DiamondRock Hospitality 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.