Hsbc Holdings PLC raised its holdings in DiamondRock Hospitality Company (NYSE:DRH – Free Report) by 10.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 601,908 shares of the real estate investment trust’s stock after buying an additional 58,968 shares during the period. Hsbc Holdings PLC’s holdings in DiamondRock Hospitality were worth $5,649,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also recently made changes to their positions in DRH. First Horizon Corp increased its position 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 worth $29,000 after acquiring an additional 1,139 shares in the last quarter. ProShare Advisors LLC raised its holdings in shares of DiamondRock Hospitality by 3.1% in the 4th quarter. ProShare Advisors LLC now owns 40,041 shares of the real estate investment trust’s stock worth $359,000 after acquiring an additional 1,203 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in DiamondRock Hospitality by 32.5% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,990 shares of the real estate investment trust’s stock valued at $54,000 after acquiring an additional 1,470 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in DiamondRock Hospitality by 77.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 3,436 shares of the real estate investment trust’s stock valued at $31,000 after acquiring an additional 1,498 shares in the last quarter. Finally, Metis Global Partners LLC boosted its stake in DiamondRock Hospitality by 3.6% during the 4th quarter. Metis Global Partners LLC now owns 48,193 shares of the real estate investment trust’s stock valued at $432,000 after purchasing an additional 1,667 shares during the last quarter.
Wall Street Analysts Forecast Growth
A number of brokerages have commented on DRH. Truist Financial boosted their price objective on DiamondRock Hospitality from $11.00 to $12.00 and gave the stock a “buy” rating in a report on Tuesday, May 26th. Wells Fargo & Company raised 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. Barclays lifted their target price on DiamondRock Hospitality from $10.00 to $12.00 and gave the company an “equal weight” rating in a research report on Monday, June 1st. Bank of America upped their price target on DiamondRock Hospitality from $12.50 to $13.00 and gave the stock a “buy” rating in a report on Monday. Finally, Citigroup increased their price target on DiamondRock Hospitality from $11.00 to $13.00 and gave the company a “neutral” rating in a research report on Wednesday. Four research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $12.12.
DiamondRock Hospitality Trading Down 1.8%
NYSE:DRH opened at $12.67 on Friday. 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 firm has a market cap of $2.59 billion, a price-to-earnings ratio of 50.68, a price-to-earnings-growth ratio of 4.50 and a beta of 0.98. DiamondRock Hospitality Company has a 52 week low of $7.45 and a 52 week high of $13.05. The firm has a 50-day moving average price of $11.76 and a two-hundred day moving average price of $10.46.
DiamondRock Hospitality Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 14th. Investors 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 (DPR) is presently 76.60%.
Insiders Place Their Bets
In other DiamondRock Hospitality news, Director Michael A. Hartmeier sold 20,000 shares of the company’s stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $10.46, for a total value of $209,200.00. Following the completion of the transaction, the director owned 95,354 shares in the company, valued at $997,402.84. This represents a 17.34% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kathleen Merrill sold 20,000 shares of the firm’s stock in a transaction 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 sale, the director directly owned 84,335 shares of the company’s stock, valued at approximately $1,001,899.80. This represents a 19.17% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.90% of the company’s stock.
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.
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