DiamondRock Hospitality Company $DRH Shares Sold by Vestcor Inc

Vestcor Inc lowered its position in DiamondRock Hospitality Company (NYSE:DRH) by 86.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,359 shares of the real estate investment trust’s stock after selling 71,933 shares during the period. Vestcor Inc’s holdings in DiamondRock Hospitality were worth $102,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of DRH. AQR Capital Management LLC grew its holdings in shares of DiamondRock Hospitality by 223.2% in the 1st quarter. AQR Capital Management LLC now owns 65,376 shares of the real estate investment trust’s stock worth $505,000 after acquiring an additional 45,146 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of DiamondRock Hospitality by 5.1% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 123,672 shares of the real estate investment trust’s stock worth $955,000 after acquiring an additional 5,971 shares during the period. United Services Automobile Association acquired a new stake in shares of DiamondRock Hospitality in the 1st quarter worth approximately $91,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of DiamondRock Hospitality by 3.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,327,841 shares of the real estate investment trust’s stock worth $10,251,000 after acquiring an additional 48,558 shares during the period. Finally, Creative Planning acquired a new stake in shares of DiamondRock Hospitality in the 2nd quarter worth approximately $99,000.

Insider Transactions at DiamondRock Hospitality

In related news, Director Michael A. Hartmeier sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $10.46, for a total value of $209,200.00. Following the sale, the director owned 95,354 shares of the company’s stock, valued at approximately $997,402.84. This represents a 17.34% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.90% of the company’s stock.

DiamondRock Hospitality Price Performance

DRH stock opened at $11.64 on Thursday. DiamondRock Hospitality Company has a 1 year low of $7.44 and a 1 year high of $11.87. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.64 and a current ratio of 1.64. The stock’s 50 day moving average price is $10.51 and its 200 day moving average price is $9.78. The firm has a market cap of $2.38 billion, a P/E ratio of 46.56, a PEG ratio of 4.50 and a beta of 1.00.

DiamondRock Hospitality Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 14th. Investors 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 3.1%. DiamondRock Hospitality’s dividend payout ratio is presently 76.60%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on DRH shares. Barclays upped their price target on DiamondRock Hospitality from $10.00 to $12.00 and gave the stock an “equal weight” rating in a report on Monday, June 1st. Citigroup upped their price target on DiamondRock Hospitality from $9.50 to $11.00 and gave the stock a “neutral” rating in a report on Wednesday, May 6th. LADENBURG THALM/SH SH started coverage on DiamondRock Hospitality in a report on Thursday, March 26th. They issued a “buy” rating and a $12.00 price target on the stock. Stifel Nicolaus set a $12.25 price target on DiamondRock Hospitality in a report on Thursday, June 4th. Finally, Morgan Stanley upped their price target on DiamondRock Hospitality from $9.50 to $9.60 and gave the stock an “equal weight” rating in a report on Tuesday, May 12th. Three analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $11.43.

About DiamondRock Hospitality

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.