PNC Financial Services Group Inc. Sells 3,433 Shares of DiamondRock Hospitality (NYSE:DRH)

PNC Financial Services Group Inc. decreased its position in DiamondRock Hospitality (NYSE:DRH) by 14.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,630 shares of the real estate investment trust’s stock after selling 3,433 shares during the quarter. PNC Financial Services Group Inc.’s holdings in DiamondRock Hospitality were worth $194,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Centersquare Investment Management LLC lifted its holdings in shares of DiamondRock Hospitality by 17.0% in the 4th quarter. Centersquare Investment Management LLC now owns 4,492,910 shares of the real estate investment trust’s stock worth $42,188,000 after acquiring an additional 652,095 shares during the last quarter. Evoke Wealth LLC bought a new stake in DiamondRock Hospitality in the fourth quarter worth $1,191,000. Paralel Advisors LLC purchased a new stake in DiamondRock Hospitality during the fourth quarter valued at about $2,352,000. Parallel Advisors LLC grew its stake in shares of DiamondRock Hospitality by 313.5% during the fourth quarter. Parallel Advisors LLC now owns 3,196 shares of the real estate investment trust’s stock valued at $30,000 after buying an additional 2,423 shares during the last quarter. Finally, Hsbc Holdings PLC grew its stake in shares of DiamondRock Hospitality by 16.1% during the fourth quarter. Hsbc Holdings PLC now owns 107,250 shares of the real estate investment trust’s stock valued at $1,007,000 after buying an additional 14,900 shares during the last quarter.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Truist Financial raised their price target on DiamondRock Hospitality from $10.00 to $11.00 and gave the stock a “hold” rating in a research report on Thursday, March 14th. StockNews.com raised shares of DiamondRock Hospitality from a “sell” rating to a “hold” rating in a research note on Friday, May 3rd. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $10.30.

DiamondRock Hospitality Price Performance

DRH opened at $8.25 on Wednesday. The stock’s 50 day moving average price is $8.49 and its 200-day moving average price is $9.05. DiamondRock Hospitality has a 52-week low of $7.33 and a 52-week high of $9.99. The stock has a market capitalization of $1.73 billion, a PE ratio of 22.92, a price-to-earnings-growth ratio of 6.22 and a beta of 1.60. The company has a debt-to-equity ratio of 0.71, a quick ratio of 2.04 and a current ratio of 2.04.

DiamondRock Hospitality Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Friday, June 28th will be issued a $0.03 dividend. The ex-dividend date is Friday, June 28th. This represents a $0.12 annualized dividend and a yield of 1.45%. DiamondRock Hospitality’s dividend payout ratio (DPR) is presently 33.33%.

DiamondRock Hospitality Profile

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.