DiamondRock Hospitality (NYSE:DRH) Stake Cut by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. lessened its holdings in shares of DiamondRock Hospitality (NYSE:DRH) by 3.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 66,130 shares of the real estate investment trust’s stock after selling 2,021 shares during the quarter. Daiwa Securities Group Inc.’s holdings in DiamondRock Hospitality were worth $559,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in DRH. Louisiana State Employees Retirement System increased its stake in DiamondRock Hospitality by 1.8% in the 2nd quarter. Louisiana State Employees Retirement System now owns 105,700 shares of the real estate investment trust’s stock valued at $893,000 after buying an additional 1,900 shares during the period. Van ECK Associates Corp raised its holdings in shares of DiamondRock Hospitality by 6.7% during the second quarter. Van ECK Associates Corp now owns 32,191 shares of the real estate investment trust’s stock worth $272,000 after acquiring an additional 2,028 shares in the last quarter. Quadrant Capital Group LLC boosted its position in DiamondRock Hospitality by 195.7% during the fourth quarter. Quadrant Capital Group LLC now owns 3,330 shares of the real estate investment trust’s stock valued at $31,000 after purchasing an additional 2,204 shares during the last quarter. Parallel Advisors LLC grew its stake in DiamondRock Hospitality by 313.5% in the fourth quarter. Parallel Advisors LLC now owns 3,196 shares of the real estate investment trust’s stock valued at $30,000 after purchasing an additional 2,423 shares in the last quarter. Finally, LDR Capital Management LLC increased its position in DiamondRock Hospitality by 25.5% in the 1st quarter. LDR Capital Management LLC now owns 13,244 shares of the real estate investment trust’s stock worth $127,000 after purchasing an additional 2,692 shares during the last quarter.

DiamondRock Hospitality Stock Performance

DRH opened at $8.44 on Tuesday. The company has a quick ratio of 2.03, a current ratio of 2.03 and a debt-to-equity ratio of 0.71. The stock’s 50 day moving average price is $8.34 and its two-hundred day moving average price is $8.67. The firm has a market capitalization of $1.77 billion, a P/E ratio of 23.44, a price-to-earnings-growth ratio of 4.07 and a beta of 1.60. DiamondRock Hospitality has a 12-month low of $7.33 and a 12-month high of $9.99.

DiamondRock Hospitality (NYSE:DRH) last announced its quarterly earnings data on Thursday, August 1st. The real estate investment trust reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.22). The firm had revenue of $309.28 million for the quarter, compared to analyst estimates of $301.77 million. DiamondRock Hospitality had a return on equity of 4.31% and a net margin of 6.43%. DiamondRock Hospitality’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.32 EPS. On average, equities analysts forecast that DiamondRock Hospitality will post 0.98 earnings per share for the current year.

DiamondRock Hospitality Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Monday, September 30th will be paid a $0.03 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $0.12 annualized dividend and a dividend yield of 1.42%. DiamondRock Hospitality’s dividend payout ratio is currently 33.33%.

Wall Street Analyst Weigh In

Several brokerages recently commented on DRH. Wells Fargo & Company lowered their price target on DiamondRock Hospitality from $9.50 to $9.00 and set an “equal weight” rating for the company in a research note on Friday. Truist Financial dropped their price target on shares of DiamondRock Hospitality from $11.00 to $10.00 and set a “hold” rating on the stock in a research note on Wednesday, September 4th. StockNews.com raised shares of DiamondRock Hospitality from a “sell” rating to a “hold” rating in a research note on Saturday, August 10th. Finally, Compass Point upgraded DiamondRock Hospitality from a “neutral” rating to a “buy” rating and set a $10.00 target price on the stock in a report on Monday, August 5th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $9.92.

DiamondRock Hospitality Company 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.