Hsbc Holdings PLC Has $4.88 Million Stock Holdings in DiamondRock Hospitality Company $DRH

Hsbc Holdings PLC increased its position in shares of DiamondRock Hospitality Company (NYSE:DRH) by 10.7% during the 4th quarter, Holdings Channel reports. The fund owned 542,940 shares of the real estate investment trust’s stock after buying an additional 52,392 shares during the quarter. Hsbc Holdings PLC’s holdings in DiamondRock Hospitality were worth $4,881,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the company. Mcguire Capital Advisors Inc. acquired a new stake in DiamondRock Hospitality in the fourth quarter worth $188,000. Invesco Ltd. grew its holdings in shares of DiamondRock Hospitality by 19.3% in the 4th quarter. Invesco Ltd. now owns 1,098,648 shares of the real estate investment trust’s stock valued at $9,844,000 after buying an additional 177,593 shares during the period. Corient Private Wealth LLC bought a new stake in shares of DiamondRock Hospitality in the 4th quarter valued at $118,000. EP Wealth Advisors LLC bought a new stake in shares of DiamondRock Hospitality in the 4th quarter valued at $200,000. Finally, Mackenzie Financial Corp raised its stake in DiamondRock Hospitality by 97.3% during the 4th quarter. Mackenzie Financial Corp now owns 50,293 shares of the real estate investment trust’s stock worth $462,000 after buying an additional 24,796 shares during the period.

DiamondRock Hospitality Trading Up 0.4%

Shares of DiamondRock Hospitality stock opened at $12.46 on Friday. DiamondRock Hospitality Company has a 12-month low of $7.45 and a 12-month high of $12.54. The stock has a market cap of $2.55 billion, a P/E ratio of 49.86, a P/E/G ratio of 4.50 and a beta of 1.00. 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 business’s 50 day moving average is $11.08 and its 200-day moving average is $10.04.

DiamondRock Hospitality Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 14th. Investors of record on Tuesday, June 30th will be issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date is Tuesday, June 30th. DiamondRock Hospitality’s payout ratio is presently 76.60%.

Analyst Ratings Changes

A number of research firms have issued reports on DRH. Stifel Nicolaus set a $12.25 target price on DiamondRock Hospitality in a research note on Thursday, June 4th. Barclays lifted their price objective on DiamondRock Hospitality from $10.00 to $12.00 and gave the company an “equal weight” rating in a report on Monday, June 1st. Wells Fargo & Company boosted their price objective on DiamondRock Hospitality from $11.00 to $12.00 and gave the company an “equal weight” rating in a research report on Monday, June 1st. Truist Financial increased their target price on DiamondRock Hospitality from $11.00 to $12.00 and gave the stock a “buy” rating in a research note on Tuesday, May 26th. Finally, LADENBURG THALM/SH SH raised their target price on shares of DiamondRock Hospitality from $13.00 to $14.00 and gave the stock a “buy” rating in a report on Thursday, June 18th. Three equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $11.65.

Insiders Place Their Bets

In other DiamondRock Hospitality news, Director Kathleen Merrill sold 20,000 shares of the company’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $11.88, for a total transaction of $237,600.00. Following the sale, the director directly owned 84,335 shares of the company’s stock, valued at approximately $1,001,899.80. This represents a 19.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Michael A. Hartmeier sold 20,000 shares of the 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 owned 95,354 shares of the company’s stock, valued at approximately $997,402.84. This represents a 17.34% decrease in their position. The SEC filing for this sale provides additional information. 0.90% of the stock is currently owned by insiders.

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.