DiamondRock Hospitality Company $DRH Stock Holdings Increased by Public Sector Pension Investment Board

Public Sector Pension Investment Board raised its stake in shares of DiamondRock Hospitality Company (NYSE:DRH) by 34.3% in the third quarter, HoldingsChannel reports. The institutional investor owned 944,700 shares of the real estate investment trust’s stock after purchasing an additional 241,376 shares during the period. Public Sector Pension Investment Board’s holdings in DiamondRock Hospitality were worth $7,520,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in DRH. AQR Capital Management LLC increased its stake in shares of DiamondRock Hospitality by 223.2% during the 1st quarter. AQR Capital Management LLC now owns 65,376 shares of the real estate investment trust’s stock worth $505,000 after purchasing an additional 45,146 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in DiamondRock Hospitality by 5.1% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 123,672 shares of the real estate investment trust’s stock valued at $955,000 after buying an additional 5,971 shares in the last quarter. United Services Automobile Association acquired a new stake in shares of DiamondRock Hospitality in the first quarter worth about $91,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of DiamondRock Hospitality by 3.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,327,841 shares of the real estate investment trust’s stock valued at $10,251,000 after acquiring an additional 48,558 shares during the last quarter. Finally, CWM LLC lifted its holdings in DiamondRock Hospitality by 1,667.5% in the 2nd quarter. CWM LLC now owns 53,219 shares of the real estate investment trust’s stock worth $408,000 after purchasing an additional 50,208 shares during the last quarter.

DiamondRock Hospitality Stock Up 1.2%

Shares of NYSE:DRH opened at $9.99 on Wednesday. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 0.70. The firm has a market cap of $2.03 billion, a P/E ratio of 39.96, a P/E/G ratio of 4.50 and a beta of 1.03. DiamondRock Hospitality Company has a 12 month low of $6.18 and a 12 month high of $10.24. The company’s 50-day moving average price is $9.34 and its two-hundred day moving average price is $8.64.

DiamondRock Hospitality Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 14th. Investors of record on Wednesday, December 31st were issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date was Wednesday, December 31st. DiamondRock Hospitality’s dividend payout ratio (DPR) is presently 128.00%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Barclays assumed coverage on shares of DiamondRock Hospitality in a report on Tuesday, January 6th. They set an “equal weight” rating and a $10.00 price objective for the company. Deutsche Bank Aktiengesellschaft upgraded DiamondRock Hospitality from a “hold” rating to a “buy” rating and increased their target price for the company from $10.00 to $12.00 in a research note on Tuesday, January 13th. Morgan Stanley dropped their price target on DiamondRock Hospitality from $9.00 to $8.50 and set an “equal weight” rating on the stock in a research report on Wednesday, October 22nd. Wells Fargo & Company raised their price objective on DiamondRock Hospitality from $9.00 to $10.00 and gave the stock an “equal weight” rating in a research report on Monday, December 1st. Finally, Truist Financial raised DiamondRock Hospitality from a “hold” rating to a “buy” rating and raised their target price for the stock from $10.00 to $11.00 in a research report on Friday, January 9th. Three research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $9.91.

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.