DiamondRock Hospitality (NYSE:DRH) Shares Sold by Public Sector Pension Investment Board

Public Sector Pension Investment Board lessened its holdings in shares of DiamondRock Hospitality (NYSE:DRH) by 4.9% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 439,711 shares of the real estate investment trust’s stock after selling 22,500 shares during the quarter. Public Sector Pension Investment Board owned about 0.21% of DiamondRock Hospitality worth $3,839,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Quarry LP lifted its holdings in DiamondRock Hospitality by 2,093.9% during the 2nd quarter. Quarry LP now owns 3,949 shares of the real estate investment trust’s stock worth $33,000 after buying an additional 3,769 shares in the last quarter. Headlands Technologies LLC acquired a new stake in shares of DiamondRock Hospitality in the second quarter valued at $42,000. Mirae Asset Global Investments Co. Ltd. boosted its holdings in DiamondRock Hospitality by 35.1% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,153 shares of the real estate investment trust’s stock valued at $73,000 after purchasing an additional 2,116 shares during the period. Harbor Capital Advisors Inc. purchased a new position in DiamondRock Hospitality in the third quarter valued at $74,000. Finally, Choreo LLC purchased a new position in DiamondRock Hospitality in the second quarter valued at $89,000.

Wall Street Analysts Forecast Growth

DRH has been the subject of a number of recent research reports. Truist Financial decreased their target price on DiamondRock Hospitality from $11.00 to $10.00 and set a “hold” rating for the company in a report on Wednesday, September 4th. Stifel Nicolaus lowered DiamondRock Hospitality from a “buy” rating to a “hold” rating and decreased their target price for the company from $10.75 to $10.25 in a report on Friday, November 22nd. Evercore ISI lowered DiamondRock Hospitality from an “outperform” rating to an “inline” rating and set a $10.50 target price for the company. in a report on Friday, November 15th. StockNews.com upgraded DiamondRock Hospitality from a “sell” rating to a “hold” rating in a report on Tuesday, November 12th. Finally, Wells Fargo & Company decreased their price target on DiamondRock Hospitality from $9.50 to $9.00 and set an “equal weight” rating for the company in a report on Friday, September 13th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, DiamondRock Hospitality currently has an average rating of “Hold” and a consensus target price of $10.13.

DiamondRock Hospitality Stock Up 0.6 %

Shares of NYSE DRH opened at $9.34 on Tuesday. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.73 and a quick ratio of 1.73. DiamondRock Hospitality has a 1 year low of $7.74 and a 1 year high of $9.99. The company has a market capitalization of $1.94 billion, a price-to-earnings ratio of 33.36, a price-to-earnings-growth ratio of 5.41 and a beta of 1.60. The business has a 50-day moving average of $8.97 and a two-hundred day moving average of $8.58.

DiamondRock Hospitality Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Monday, September 30th were paid a dividend of $0.03 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.12 dividend on an annualized basis and a yield of 1.28%. DiamondRock Hospitality’s dividend payout ratio is presently 42.86%.

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.