WINTON GROUP Ltd grew its stake in shares of DiamondRock Hospitality Company (NYSE:DRH – Free Report) by 2,699.7% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 425,556 shares of the real estate investment trust’s stock after buying an additional 410,356 shares during the period. WINTON GROUP Ltd’s holdings in DiamondRock Hospitality were worth $5,183,000 as of its most recent filing with the SEC.
Other hedge funds have also made changes to their positions in the company. Allworth Financial LP raised its holdings in DiamondRock Hospitality by 146.0% in the 4th quarter. Allworth Financial LP now owns 2,859 shares of the real estate investment trust’s stock valued at $26,000 after acquiring an additional 1,697 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of DiamondRock Hospitality by 77.3% in 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 purchasing an additional 1,498 shares in the last quarter. Danske Bank A S bought a new position in DiamondRock Hospitality in the third quarter worth $33,000. Global Retirement Partners LLC boosted its stake 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 worth $37,000 after buying an additional 4,119 shares in the last quarter. Finally, State of Wyoming acquired a new stake in DiamondRock Hospitality during the second quarter worth $58,000.
DiamondRock Hospitality Stock Performance
DRH stock opened at $12.18 on Friday. The company has a 50 day moving average price of $12.47 and a 200 day moving average price of $11.23. DiamondRock Hospitality Company has a fifty-two week low of $7.47 and a fifty-two week high of $13.79. 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 stock has a market capitalization of $2.49 billion, a PE ratio of 48.72, a price-to-earnings-growth ratio of 4.50 and a beta of 0.97.
DiamondRock Hospitality Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 14th. Shareholders of record on Wednesday, September 30th will be given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date is Wednesday, September 30th. This is a boost from DiamondRock Hospitality’s previous quarterly dividend of $0.09. DiamondRock Hospitality’s dividend payout ratio is currently 60.27%.
Analyst Ratings Changes
A number of equities analysts have recently issued reports on DRH shares. Truist Financial increased their price objective on shares of DiamondRock Hospitality from $12.00 to $15.00 and gave the company a “buy” rating in a research note on Thursday. Bank of America lifted their target price on shares of DiamondRock Hospitality from $12.50 to $13.00 and gave the company a “buy” rating in a research report on Monday, July 20th. Stifel Nicolaus increased their price target on shares of DiamondRock Hospitality from $12.50 to $13.25 and gave the stock a “hold” rating in a research report on Friday, July 31st. Morgan Stanley increased their price target on shares of DiamondRock Hospitality from $10.00 to $11.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 18th. Finally, Citigroup raised their price target on shares of DiamondRock Hospitality from $11.00 to $13.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 22nd. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, DiamondRock Hospitality presently has a consensus rating of “Moderate Buy” and a consensus price target of $12.82.
Get Our Latest Stock Report on DiamondRock Hospitality
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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