Legal & General Group Plc Boosts Stock Position in DiamondRock Hospitality Company $DRH

Legal & General Group Plc increased its position in shares of DiamondRock Hospitality Company (NYSE:DRH) by 11.5% during the 4th quarter, Holdings Channel.com reports. The fund owned 1,455,339 shares of the real estate investment trust’s stock after acquiring an additional 150,098 shares during the period. Legal & General Group Plc’s holdings in DiamondRock Hospitality were worth $13,040,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of DRH. Allworth Financial LP grew its position 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. First Horizon Corp lifted 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 purchasing an additional 1,139 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of DiamondRock Hospitality by 77.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 3,436 shares of the real estate investment trust’s stock worth $31,000 after purchasing an additional 1,498 shares in the last quarter. Global Retirement Partners LLC boosted its stake in shares of DiamondRock Hospitality by 12,114.7% in the fourth quarter. Global Retirement Partners LLC now owns 4,153 shares of the real estate investment trust’s stock valued at $37,000 after purchasing an additional 4,119 shares during the period. Finally, Danske Bank A S acquired a new position in shares of DiamondRock Hospitality in the third quarter valued at approximately $33,000.

Insider Buying and Selling at DiamondRock Hospitality

In other news, Director Michael A. Hartmeier sold 20,000 shares of DiamondRock Hospitality stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $10.46, for a total transaction of $209,200.00. Following the completion of the sale, the director directly owned 95,354 shares of the company’s stock, valued at approximately $997,402.84. The trade was a 17.34% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.90% of the company’s stock.

DiamondRock Hospitality Stock Up 1.7%

Shares of NYSE:DRH opened at $11.18 on Wednesday. DiamondRock Hospitality Company has a fifty-two week low of $7.39 and a fifty-two week high of $11.27. The firm’s 50 day moving average price is $10.22 and its 200 day moving average price is $9.65. 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 stock has a market cap of $2.29 billion, a price-to-earnings ratio of 44.72, a price-to-earnings-growth ratio of 4.50 and a beta of 0.99.

DiamondRock Hospitality Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 14th. Stockholders of record on Tuesday, June 30th will be issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date is Tuesday, June 30th. DiamondRock Hospitality’s dividend payout ratio (DPR) is presently 76.60%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on DRH shares. Stifel Nicolaus upped their target price on shares of DiamondRock Hospitality from $11.00 to $11.25 and gave the stock a “hold” rating in a research note on Monday, May 11th. Truist Financial raised their price target on shares of DiamondRock Hospitality from $11.00 to $12.00 and gave the company a “buy” rating in a research report on Tuesday, May 26th. Barclays boosted their price target on shares of DiamondRock Hospitality from $10.00 to $12.00 and gave the stock an “equal weight” rating in a research note on Monday. Wells Fargo & Company increased their price objective on DiamondRock Hospitality from $11.00 to $12.00 and gave the company an “equal weight” rating in a research note on Monday. Finally, LADENBURG THALM/SH SH initiated coverage on DiamondRock Hospitality in a report on Thursday, March 26th. They issued a “buy” rating and a $12.00 target price for the company. Three investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat, DiamondRock Hospitality presently has a consensus rating of “Hold” and an average target price of $11.32.

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.