Mirae Asset Global Investments Co. Ltd. Buys 6,396 Shares of DiamondRock Hospitality (NYSE:DRH)

Mirae Asset Global Investments Co. Ltd. raised its stake in shares of DiamondRock Hospitality (NYSE:DRH) by 6.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 99,903 shares of the real estate investment trust’s stock after buying an additional 6,396 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in DiamondRock Hospitality were worth $938,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. State Board of Administration of Florida Retirement System lifted its position in shares of DiamondRock Hospitality by 101.1% during the 3rd quarter. State Board of Administration of Florida Retirement System now owns 132,028 shares of the real estate investment trust’s stock worth $1,060,000 after purchasing an additional 66,388 shares during the last quarter. Public Employees Retirement System of Ohio lifted its position in shares of DiamondRock Hospitality by 7.9% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 306,213 shares of the real estate investment trust’s stock worth $2,459,000 after purchasing an additional 22,438 shares during the last quarter. Invesco Ltd. lifted its position in shares of DiamondRock Hospitality by 3.1% during the 3rd quarter. Invesco Ltd. now owns 5,455,648 shares of the real estate investment trust’s stock worth $43,809,000 after purchasing an additional 165,142 shares during the last quarter. Diversified Trust Co lifted its position in shares of DiamondRock Hospitality by 4.2% during the 3rd quarter. Diversified Trust Co now owns 52,385 shares of the real estate investment trust’s stock worth $421,000 after purchasing an additional 2,108 shares during the last quarter. Finally, Bamco Inc. NY acquired a new position in shares of DiamondRock Hospitality during the 3rd quarter worth about $3,866,000.

DiamondRock Hospitality Trading Up 2.2 %

Shares of DRH opened at $9.15 on Wednesday. The stock has a 50 day simple moving average of $9.37 and a 200-day simple moving average of $8.96. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 0.71. The stock has a market cap of $1.93 billion, a PE ratio of 25.42 and a beta of 1.60. DiamondRock Hospitality has a 1 year low of $7.33 and a 1 year high of $9.99.

DiamondRock Hospitality (NYSE:DRH) last released its quarterly earnings data on Friday, February 23rd. The real estate investment trust reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.14). DiamondRock Hospitality had a return on equity of 5.29% and a net margin of 8.03%. The company had revenue of $263.50 million for the quarter, compared to analyst estimates of $261.45 million. During the same quarter in the prior year, the company earned $0.23 earnings per share. The business’s revenue was up 3.3% compared to the same quarter last year. On average, sell-side analysts predict that DiamondRock Hospitality will post 0.96 EPS for the current fiscal year.

DiamondRock Hospitality Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Friday, March 29th were paid a $0.03 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $0.12 annualized dividend and a dividend yield of 1.31%. DiamondRock Hospitality’s dividend payout ratio is presently 33.33%.

Analysts Set New Price Targets

DRH has been the subject of several research analyst reports. Stifel Nicolaus boosted their price objective on DiamondRock Hospitality from $10.00 to $10.50 and gave the stock a “buy” rating in a research report on Friday, February 23rd. Wolfe Research began coverage on DiamondRock Hospitality in a research note on Wednesday, January 10th. They set an “outperform” rating and a $11.00 price target on the stock. Truist Financial boosted their price target on DiamondRock Hospitality from $10.00 to $11.00 and gave the company a “hold” rating in a research note on Thursday, March 14th. Finally, StockNews.com lowered DiamondRock Hospitality from a “hold” rating to a “sell” rating in a research note on Saturday, February 3rd. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, DiamondRock Hospitality presently has an average rating of “Hold” and an average target price of $10.30.

DiamondRock Hospitality Company Profile

DiamondRock Hospitality Company is a self-advised real estate investment trust (REIT) that is an owner of a leading portfolio of geographically diversified hotels concentrated in leisure destinations and top gateway markets. The Company currently owns 36 premium quality hotels with over 9,700 rooms. The Company has strategically positioned its portfolio to be operated both under leading global brand families as well as independent boutique hotels in the lifestyle segment.