QRG Capital Management Inc. Buys 76,071 Shares of DiamondRock Hospitality Company $DRH

QRG Capital Management Inc. boosted its stake in DiamondRock Hospitality Company (NYSE:DRH) by 131.4% during the first quarter, Holdings Channel reports. The institutional investor owned 133,946 shares of the real estate investment trust’s stock after buying an additional 76,071 shares during the period. QRG Capital Management Inc.’s holdings in DiamondRock Hospitality were worth $1,255,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of DRH. Strs Ohio grew its position in shares of DiamondRock Hospitality by 300.0% in the first quarter. Strs Ohio now owns 145,600 shares of the real estate investment trust’s stock valued at $1,361,000 after purchasing an additional 109,200 shares during the last quarter. Inspire Investing LLC lifted its holdings in DiamondRock Hospitality by 14.4% during the 1st quarter. Inspire Investing LLC now owns 59,394 shares of the real estate investment trust’s stock worth $557,000 after purchasing an additional 7,471 shares during the last quarter. Louisiana State Employees Retirement System bought a new stake in DiamondRock Hospitality in the 1st quarter valued at $846,000. SG Americas Securities LLC grew its holdings in DiamondRock Hospitality by 106.1% in the 1st quarter. SG Americas Securities LLC now owns 4,172,671 shares of the real estate investment trust’s stock valued at $39,098,000 after buying an additional 2,147,881 shares in the last quarter. Finally, Hsbc Holdings PLC increased its position in DiamondRock Hospitality by 10.7% during the 4th quarter. Hsbc Holdings PLC now owns 542,940 shares of the real estate investment trust’s stock worth $4,881,000 after buying an additional 52,392 shares during the period.

DiamondRock Hospitality Stock Performance

NYSE:DRH opened at $11.75 on Wednesday. The company has a market cap of $2.40 billion, a price-to-earnings ratio of 47.00, a PEG ratio of 4.50 and a beta of 0.98. DiamondRock Hospitality Company has a fifty-two week low of $7.45 and a fifty-two week high of $12.54. 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 has a fifty day moving average price of $11.32 and a 200-day moving average price of $10.20.

DiamondRock Hospitality Dividend Announcement

The company also recently disclosed 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 of this dividend is Tuesday, June 30th. This represents a $0.36 annualized dividend and a yield of 3.1%. DiamondRock Hospitality’s dividend payout ratio is currently 76.60%.

Insider Transactions at DiamondRock Hospitality

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

Wall Street Analyst Weigh In

DRH has been the subject of a number of research reports. Stifel Nicolaus set a $12.25 target price on DiamondRock Hospitality in a report on Thursday, June 4th. Barclays raised their price target on shares of DiamondRock Hospitality from $10.00 to $12.00 and gave the stock an “equal weight” rating in a research report on Monday, June 1st. LADENBURG THALM/SH SH lifted their price objective on shares of DiamondRock Hospitality from $13.00 to $14.00 and gave the stock a “buy” rating in a research note on Thursday, June 18th. Truist Financial boosted their price objective on shares of DiamondRock Hospitality from $11.00 to $12.00 and gave the company a “buy” rating in a report on Tuesday, May 26th. Finally, Morgan Stanley increased 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. Based on data from MarketBeat, DiamondRock Hospitality currently has an average rating of “Hold” and a consensus target price of $11.65.

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.