Entropy Technologies LP Has $877,000 Stake in DiamondRock Hospitality Company $DRH

Entropy Technologies LP trimmed its position in shares of DiamondRock Hospitality Company (NYSE:DRH) by 34.2% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 93,573 shares of the real estate investment trust’s stock after selling 48,722 shares during the period. Entropy Technologies LP’s holdings in DiamondRock Hospitality were worth $877,000 at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

Several brokerages recently issued reports on DRH. Truist Financial increased 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. Stifel Nicolaus set a $12.25 target price on DiamondRock Hospitality in a research note on Thursday, June 4th. Wells Fargo & Company upped their target price on DiamondRock Hospitality from $12.00 to $13.00 and gave the company an “equal weight” rating in a report on Thursday, July 23rd. Bank of America increased their price target on shares of DiamondRock Hospitality from $12.50 to $13.00 and gave the stock a “buy” rating in a research report on Monday, July 20th. Finally, Morgan Stanley raised their price target on shares of DiamondRock Hospitality from $9.60 to $10.00 and gave the stock an “equal weight” rating in a report on Friday, July 17th. Four 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 MarketBeat.com, DiamondRock Hospitality currently has an average rating of “Hold” and a consensus target price of $12.12.

Insider Activity at DiamondRock Hospitality

In other DiamondRock Hospitality news, Director Michael A. Hartmeier sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $10.46, for a total value of $209,200.00. Following the completion of the sale, the director directly owned 95,354 shares of the company’s stock, valued at $997,402.84. The trade was a 17.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Kathleen Merrill sold 20,000 shares of the stock in a transaction on Friday, June 12th. The stock was sold at an average price of $11.88, for a total transaction of $237,600.00. Following the transaction, the director owned 84,335 shares in the company, valued at approximately $1,001,899.80. This trade represents a 19.17% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.90% of the company’s stock.

DiamondRock Hospitality Trading Up 1.2%

NYSE DRH opened at $13.07 on Wednesday. The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 0.70. DiamondRock Hospitality Company has a 1-year low of $7.45 and a 1-year high of $13.08. The firm’s fifty day simple moving average is $11.91 and its 200-day simple moving average is $10.54. The company has a market capitalization of $2.67 billion, a PE ratio of 52.28, a price-to-earnings-growth ratio of 4.50 and a beta of 0.98.

DiamondRock Hospitality Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 14th. Stockholders of record on Tuesday, June 30th were issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 2.8%. The ex-dividend date was Tuesday, June 30th. DiamondRock Hospitality’s payout ratio is currently 76.60%.

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.