Hsbc Holdings PLC Has $5.65 Million Holdings in DiamondRock Hospitality Company $DRH

Hsbc Holdings PLC boosted its stake in DiamondRock Hospitality Company (NYSE:DRH) by 10.9% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 601,908 shares of the real estate investment trust’s stock after purchasing an additional 58,968 shares during the period. Hsbc Holdings PLC owned about 0.29% of DiamondRock Hospitality worth $5,649,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of DRH. Cohen & Steers Inc. acquired a new position in DiamondRock Hospitality during the 4th quarter worth about $59,231,000. SG Americas Securities LLC increased its stake in shares of DiamondRock Hospitality by 106.1% in the first quarter. SG Americas Securities LLC now owns 4,172,671 shares of the real estate investment trust’s stock valued at $39,098,000 after buying an additional 2,147,881 shares during the period. Healthcare of Ontario Pension Plan Trust Fund increased its stake in shares of DiamondRock Hospitality by 907.2% in the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,292,360 shares of the real estate investment trust’s stock valued at $20,540,000 after buying an additional 2,064,760 shares during the period. Qube Research & Technologies Ltd raised its position in shares of DiamondRock Hospitality by 469.0% during the third quarter. Qube Research & Technologies Ltd now owns 2,002,863 shares of the real estate investment trust’s stock worth $15,943,000 after acquiring an additional 1,650,871 shares during the last quarter. Finally, Bank of America Corp DE lifted its stake in shares of DiamondRock Hospitality by 17.5% in the second quarter. Bank of America Corp DE now owns 9,231,991 shares of the real estate investment trust’s stock worth $70,717,000 after acquiring an additional 1,377,897 shares during the period.

DiamondRock Hospitality Stock Down 1.8%

Shares of DiamondRock Hospitality stock opened at $12.67 on Friday. The stock’s 50-day moving average is $11.76 and its 200 day moving average is $10.46. DiamondRock Hospitality Company has a one year low of $7.45 and a one year high of $13.05. The firm has a market cap of $2.59 billion, a price-to-earnings ratio of 50.68, a PEG ratio of 4.50 and a beta of 0.98. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.64 and a quick ratio of 1.64.

DiamondRock Hospitality Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 14th. Stockholders of record on Tuesday, June 30th were given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend was Tuesday, June 30th. DiamondRock Hospitality’s dividend payout ratio is 76.60%.

Insider Activity

In other news, Director Michael A. Hartmeier sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $10.46, for a total value of $209,200.00. Following the completion of the sale, the director directly owned 95,354 shares in the company, valued at $997,402.84. This trade represents a 17.34% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Kathleen Merrill sold 20,000 shares of the business’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $11.88, for a total value of $237,600.00. Following the completion of the sale, the director directly owned 84,335 shares of the company’s stock, valued at $1,001,899.80. The trade was a 19.17% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 0.90% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on DRH. Citigroup increased their target price on shares of DiamondRock Hospitality from $11.00 to $13.00 and gave the company a “neutral” rating in a research report on Wednesday. Stifel Nicolaus set a $12.25 price target on shares of DiamondRock Hospitality in a research report on Thursday, June 4th. Morgan Stanley boosted their price target on shares of DiamondRock Hospitality from $9.60 to $10.00 and gave the stock an “equal weight” rating in a research report on Friday, July 17th. Barclays increased their price objective on shares of DiamondRock Hospitality from $10.00 to $12.00 and gave the stock an “equal weight” rating in a research report on Monday, June 1st. Finally, Truist Financial lifted their target price on shares of DiamondRock Hospitality from $11.00 to $12.00 and gave the stock a “buy” rating in a research note on Tuesday, May 26th. Four analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, DiamondRock Hospitality has a consensus rating of “Hold” and a consensus target price of $12.12.

About DiamondRock Hospitality

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.