Headlands Technologies LLC Makes New $42,000 Investment in DiamondRock Hospitality (NYSE:DRH)

Headlands Technologies LLC purchased a new stake in DiamondRock Hospitality (NYSE:DRH) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 5,021 shares of the real estate investment trust’s stock, valued at approximately $42,000.

Several other large investors have also modified their holdings of DRH. Paralel Advisors LLC bought a new position in DiamondRock Hospitality in the fourth quarter worth approximately $2,352,000. Natixis purchased a new position in shares of DiamondRock Hospitality in the 1st quarter valued at $728,000. Centersquare Investment Management LLC lifted its stake in shares of DiamondRock Hospitality by 40.3% during the 1st quarter. Centersquare Investment Management LLC now owns 6,303,698 shares of the real estate investment trust’s stock worth $56,103,000 after purchasing an additional 1,810,788 shares during the last quarter. Russell Investments Group Ltd. boosted its position in DiamondRock Hospitality by 19.9% during the first quarter. Russell Investments Group Ltd. now owns 562,844 shares of the real estate investment trust’s stock valued at $5,409,000 after purchasing an additional 93,381 shares in the last quarter. Finally, Norges Bank purchased a new position in DiamondRock Hospitality in the fourth quarter valued at about $13,301,000.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on DRH. Truist Financial lowered their price target on shares of DiamondRock Hospitality from $11.00 to $10.00 and set a “hold” rating on the stock in a report on Wednesday, September 4th. StockNews.com raised shares of DiamondRock Hospitality from a “sell” rating to a “hold” rating in a report on Saturday, August 10th. Wells Fargo & Company decreased their price objective 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. 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 research note on Monday, August 5th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $9.92.

DiamondRock Hospitality Stock Performance

Shares of DRH stock opened at $8.61 on Wednesday. The business has a fifty day moving average of $8.35 and a 200 day moving average of $8.67. DiamondRock Hospitality has a 1 year low of $7.33 and a 1 year high of $9.99. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.03 and a quick ratio of 2.03. The firm has a market capitalization of $1.81 billion, a price-to-earnings ratio of 23.92, a price-to-earnings-growth ratio of 4.07 and a beta of 1.60.

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 (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.22). DiamondRock Hospitality had a return on equity of 4.31% and a net margin of 6.43%. The firm had revenue of $309.28 million during the quarter, compared to analysts’ expectations of $301.77 million. During the same quarter in the previous year, the business earned $0.32 earnings per share. The company’s revenue for the quarter was up 6.2% compared to the same quarter last year. As a group, research analysts expect that DiamondRock Hospitality will post 0.98 earnings per share for the current year.

DiamondRock Hospitality Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Monday, September 30th will be issued a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 1.39%. The ex-dividend date of this dividend is Monday, September 30th. DiamondRock Hospitality’s dividend payout ratio (DPR) is currently 33.33%.

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.