104,900 Shares in DiamondRock Hospitality (NYSE:DRH) Bought by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System acquired a new position in DiamondRock Hospitality (NYSE:DRH) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 104,900 shares of the real estate investment trust’s stock, valued at approximately $985,000. Louisiana State Employees Retirement System owned approximately 0.05% of DiamondRock Hospitality as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. National Bank of Canada FI bought a new position in DiamondRock Hospitality in the third quarter valued at $30,000. Evergreen Capital Management LLC bought a new position in DiamondRock Hospitality in the third quarter valued at $90,000. Jump Financial LLC increased its stake in DiamondRock Hospitality by 80.8% in the third quarter. Jump Financial LLC now owns 20,500 shares of the real estate investment trust’s stock valued at $165,000 after acquiring an additional 9,164 shares during the last quarter. Inspire Advisors LLC bought a new position in DiamondRock Hospitality in the third quarter valued at $170,000. Finally, QRG Capital Management Inc. bought a new position in DiamondRock Hospitality in the third quarter valued at $196,000.

DiamondRock Hospitality Stock Up 0.8 %

NYSE DRH opened at $9.23 on Thursday. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.00 and a quick ratio of 2.00. The stock has a market capitalization of $1.94 billion, a PE ratio of 25.63 and a beta of 1.60. DiamondRock Hospitality has a 1 year low of $7.33 and a 1 year high of $9.99. The business’s 50-day moving average is $9.37 and its 200 day moving average is $8.96.

DiamondRock Hospitality (NYSE:DRH) last posted its earnings results 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). The business had revenue of $263.50 million during the quarter, compared to the consensus estimate of $261.45 million. DiamondRock Hospitality had a return on equity of 5.29% and a net margin of 8.03%. The firm’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.23 earnings per share. Sell-side analysts forecast that DiamondRock Hospitality will post 0.96 earnings per share for the current year.

DiamondRock Hospitality Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Friday, March 29th were issued a $0.03 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $0.12 annualized dividend and a yield of 1.30%. DiamondRock Hospitality’s dividend payout ratio (DPR) is presently 33.33%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Stifel Nicolaus increased their target price on DiamondRock Hospitality from $10.00 to $10.50 and gave the company a “buy” rating in a research note on Friday, February 23rd. Truist Financial raised their price objective on DiamondRock Hospitality from $10.00 to $11.00 and gave the company a “hold” rating in a research note on Thursday, March 14th. StockNews.com cut DiamondRock Hospitality from a “hold” rating to a “sell” rating in a research note on Saturday, February 3rd. Finally, Wolfe Research started coverage on DiamondRock Hospitality in a research note on Wednesday, January 10th. They set an “outperform” rating and a $11.00 price objective on the stock. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $10.30.

About DiamondRock Hospitality

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.