Insider Selling: DiamondRock Hospitality (NYSE:DRH) Director Sells $237,600.00 in Stock

DiamondRock Hospitality Company (NYSE:DRH) Director Kathleen Merrill sold 20,000 shares of the stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $11.88, for a total value of $237,600.00. Following the completion of the sale, the director directly owned 84,335 shares of the company’s stock, valued at approximately $1,001,899.80. The trade was a 19.17% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

DiamondRock Hospitality Price Performance

Shares of DRH opened at $12.31 on Friday. The business has a 50-day moving average of $10.82 and a 200-day moving average of $9.90. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.64 and a quick ratio of 1.64. The company has a market capitalization of $2.52 billion, a price-to-earnings ratio of 49.24, a price-to-earnings-growth ratio of 4.50 and a beta of 1.00. DiamondRock Hospitality Company has a 1 year low of $7.45 and a 1 year high of $12.34.

DiamondRock Hospitality Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 14th. Shareholders of record on Tuesday, June 30th will be issued a dividend of $0.09 per share. The ex-dividend date is Tuesday, June 30th. This represents a $0.36 annualized dividend and a yield of 2.9%. DiamondRock Hospitality’s dividend payout ratio (DPR) is presently 76.60%.

Hedge Funds Weigh In On DiamondRock Hospitality

A number of institutional investors and hedge funds have recently modified their holdings of DRH. Bank of America Corp DE lifted its position in shares of DiamondRock Hospitality by 7.2% during the 1st quarter. Bank of America Corp DE now owns 8,987,338 shares of the real estate investment trust’s stock valued at $84,211,000 after acquiring an additional 606,962 shares during the period. Janus Henderson Group PLC boosted its stake in DiamondRock Hospitality by 10.1% during the first quarter. Janus Henderson Group PLC now owns 1,312,694 shares of the real estate investment trust’s stock worth $12,299,000 after acquiring an additional 119,921 shares in the last quarter. Amundi grew its holdings in DiamondRock Hospitality by 30.9% in the first quarter. Amundi now owns 191,306 shares of the real estate investment trust’s stock worth $1,793,000 after purchasing an additional 45,198 shares during the period. California State Teachers Retirement System increased its stake in DiamondRock Hospitality by 30.2% in the first quarter. California State Teachers Retirement System now owns 249,084 shares of the real estate investment trust’s stock valued at $2,334,000 after purchasing an additional 57,774 shares in the last quarter. Finally, Quantinno Capital Management LP increased its stake in DiamondRock Hospitality by 43.2% in the first quarter. Quantinno Capital Management LP now owns 82,542 shares of the real estate investment trust’s stock valued at $773,000 after purchasing an additional 24,889 shares in the last quarter.

Wall Street Analysts Forecast Growth

DRH has been the topic of a number of analyst reports. Citigroup upped their price objective on shares of DiamondRock Hospitality from $9.50 to $11.00 and gave the company a “neutral” rating in a research note on Wednesday, May 6th. Wells Fargo & Company boosted their target price on shares of DiamondRock Hospitality from $11.00 to $12.00 and gave the company an “equal weight” rating in a report on Monday, June 1st. LADENBURG THALM/SH SH upped their price target on shares of DiamondRock Hospitality from $13.00 to $14.00 and gave the company a “buy” rating in a research report on Thursday. Stifel Nicolaus set a $12.25 price target on DiamondRock Hospitality in a report on Thursday, June 4th. Finally, Morgan Stanley lifted their price objective on 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 analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat, DiamondRock Hospitality currently has a consensus rating of “Hold” and an average price target of $11.65.

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.