Principal Financial Group Inc. Has $12.51 Million Stake in DiamondRock Hospitality Company $DRH

Principal Financial Group Inc. increased its position in DiamondRock Hospitality Company (NYSE:DRH) by 37.2% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,334,731 shares of the real estate investment trust’s stock after purchasing an additional 361,674 shares during the period. Principal Financial Group Inc.’s holdings in DiamondRock Hospitality were worth $12,506,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of DRH. Cohen & Steers Inc. bought a new stake in DiamondRock Hospitality during the 4th quarter valued at $59,231,000. SG Americas Securities LLC raised its holdings in DiamondRock Hospitality by 106.1% during the first quarter. SG Americas Securities LLC now owns 4,172,671 shares of the real estate investment trust’s stock worth $39,098,000 after buying an additional 2,147,881 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in shares of DiamondRock Hospitality by 907.2% in the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,292,360 shares of the real estate investment trust’s stock valued at $20,540,000 after buying an additional 2,064,760 shares in the last quarter. Qube Research & Technologies Ltd lifted its stake in shares of DiamondRock Hospitality by 469.0% in the third quarter. Qube Research & Technologies Ltd now owns 2,002,863 shares of the real estate investment trust’s stock valued at $15,943,000 after buying an additional 1,650,871 shares in the last quarter. Finally, Bank of America Corp DE grew its holdings in shares of DiamondRock Hospitality by 17.5% during the second quarter. Bank of America Corp DE now owns 9,231,991 shares of the real estate investment trust’s stock valued at $70,717,000 after buying an additional 1,377,897 shares during the last quarter.

DiamondRock Hospitality Trading Up 1.4%

NYSE DRH opened at $12.85 on Friday. The stock has a market capitalization of $2.63 billion, a price-to-earnings ratio of 51.40, a PEG ratio of 4.50 and a beta of 0.98. The business’s fifty day moving average is $11.81 and its 200-day moving average is $10.48. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.64 and a quick ratio of 1.64. DiamondRock Hospitality Company has a one year low of $7.45 and a one year high of $13.05.

DiamondRock Hospitality Announces Dividend

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

Analyst Ratings Changes

A number of equities research analysts recently weighed in on DRH shares. Bank of America upped their target price on shares of DiamondRock Hospitality from $12.50 to $13.00 and gave the stock a “buy” rating in a report on Monday, July 20th. Stifel Nicolaus set a $12.25 price target on DiamondRock Hospitality in a research note on Thursday, June 4th. Morgan Stanley boosted their price objective on DiamondRock Hospitality from $9.60 to $10.00 and gave the stock an “equal weight” rating in a report on Friday, July 17th. Barclays increased their price objective on DiamondRock Hospitality from $10.00 to $12.00 and gave the stock an “equal weight” rating in a research note on Monday, June 1st. Finally, Citigroup raised their target price on DiamondRock Hospitality from $11.00 to $13.00 and gave the company a “neutral” rating in a report on Wednesday. Four investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $12.12.

Insider Activity at DiamondRock Hospitality

In related news, Director Kathleen Merrill sold 20,000 shares of DiamondRock Hospitality stock in a transaction that occurred on 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 transaction, the director directly owned 84,335 shares in the company, valued at approximately $1,001,899.80. The trade was a 19.17% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Michael A. Hartmeier sold 20,000 shares of the business’s stock in a transaction on 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. The trade was a 17.34% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.90% of the company’s stock.

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.