Healthcare of Ontario Pension Plan Trust Fund Purchases 2,064,760 Shares of DiamondRock Hospitality Company $DRH

Healthcare of Ontario Pension Plan Trust Fund raised its position in DiamondRock Hospitality Company (NYSE:DRH) by 907.2% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,292,360 shares of the real estate investment trust’s stock after acquiring an additional 2,064,760 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund owned approximately 1.13% of DiamondRock Hospitality worth $20,540,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Hudson Bay Capital Management LP bought a new position in DiamondRock Hospitality in the third quarter valued at about $9,098,000. Centersquare Investment Management LLC lifted its holdings in DiamondRock Hospitality by 6.0% in the third quarter. Centersquare Investment Management LLC now owns 7,536,975 shares of the real estate investment trust’s stock valued at $59,994,000 after acquiring an additional 427,467 shares during the period. UBS Group AG lifted its holdings in DiamondRock Hospitality by 49.9% in the fourth quarter. UBS Group AG now owns 2,627,787 shares of the real estate investment trust’s stock valued at $23,545,000 after acquiring an additional 874,536 shares during the period. SG Americas Securities LLC lifted its holdings in DiamondRock Hospitality by 881.7% in the fourth quarter. SG Americas Securities LLC now owns 2,024,790 shares of the real estate investment trust’s stock valued at $18,142,000 after acquiring an additional 1,818,527 shares during the period. Finally, Lighthouse Investment Partners LLC lifted its holdings in DiamondRock Hospitality by 35.2% in the third quarter. Lighthouse Investment Partners LLC now owns 825,000 shares of the real estate investment trust’s stock valued at $6,567,000 after acquiring an additional 215,000 shares during the period.

DiamondRock Hospitality Stock Up 0.2%

NYSE DRH opened at $11.94 on Tuesday. The stock’s 50-day moving average price is $10.66 and its 200-day moving average price is $9.84. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 0.70. DiamondRock Hospitality Company has a 52 week low of $7.45 and a 52 week high of $12.03. The company has a market capitalization of $2.44 billion, a P/E ratio of 47.76, a price-to-earnings-growth ratio of 4.50 and a beta of 1.00.

DiamondRock Hospitality Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 14th. Investors of record on Tuesday, June 30th will be given a dividend of $0.09 per share. The ex-dividend date is Tuesday, June 30th. This represents a $0.36 annualized dividend and a dividend yield of 3.0%. DiamondRock Hospitality’s dividend payout ratio (DPR) is currently 76.60%.

Insider Activity

In related news, Director Michael A. Hartmeier sold 20,000 shares of the stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $10.46, for a total transaction of $209,200.00. Following the completion of the sale, the director owned 95,354 shares in the company, valued at approximately $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 SEC, which can be accessed through this hyperlink. Corporate insiders own 0.90% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on DRH. Citigroup raised their price objective on DiamondRock Hospitality from $9.50 to $11.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 6th. Wells Fargo & Company raised their price objective on DiamondRock Hospitality from $11.00 to $12.00 and gave the stock an “equal weight” rating in a research note on Monday, June 1st. LADENBURG THALM/SH SH began coverage on DiamondRock Hospitality in a research note on Thursday, March 26th. They issued a “buy” rating and a $12.00 price objective on the stock. Truist Financial raised their price objective on DiamondRock Hospitality from $11.00 to $12.00 and gave the stock a “buy” rating in a research note on Tuesday, May 26th. Finally, Morgan Stanley raised their price objective on DiamondRock Hospitality from $9.50 to $9.60 and gave the stock an “equal weight” rating in a research note 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’s stock. According to data from MarketBeat, DiamondRock Hospitality presently has an average rating of “Hold” and an average target price of $11.43.

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.