AQR Capital Management LLC Has $160,000 Stock Holdings in DiamondRock Hospitality (NYSE:DRH)

AQR Capital Management LLC cut its holdings in DiamondRock Hospitality (NYSE:DRH) by 48.6% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 18,915 shares of the real estate investment trust’s stock after selling 17,917 shares during the quarter. AQR Capital Management LLC’s holdings in DiamondRock Hospitality were worth $160,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Centersquare Investment Management LLC boosted its holdings in shares of DiamondRock Hospitality by 40.3% in the 1st quarter. Centersquare Investment Management LLC now owns 6,303,698 shares of the real estate investment trust’s stock valued at $56,103,000 after buying an additional 1,810,788 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of DiamondRock Hospitality by 4.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,102,363 shares of the real estate investment trust’s stock valued at $26,214,000 after buying an additional 120,228 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in shares of DiamondRock Hospitality by 1.7% in the 2nd quarter. Victory Capital Management Inc. now owns 2,618,538 shares of the real estate investment trust’s stock valued at $22,127,000 after buying an additional 43,050 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of DiamondRock Hospitality by 1.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,081,031 shares of the real estate investment trust’s stock valued at $17,585,000 after buying an additional 25,154 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its holdings in shares of DiamondRock Hospitality by 19.9% in the 1st quarter. Russell Investments Group Ltd. now owns 562,844 shares of the real estate investment trust’s stock valued at $5,409,000 after buying an additional 93,381 shares during the last quarter.

Wall Street Analysts Forecast Growth

DRH has been the subject of several recent analyst reports. StockNews.com raised DiamondRock Hospitality from a “sell” rating to a “hold” rating in a report on Saturday, August 10th. Compass Point raised DiamondRock Hospitality from a “neutral” rating to a “buy” rating and set a $10.00 price objective for the company in a report on Monday, August 5th. Truist Financial dropped their price target on DiamondRock Hospitality from $11.00 to $10.00 and set a “hold” rating on the stock in a research note on Wednesday, September 4th. Finally, Wells Fargo & Company lowered their price objective on DiamondRock Hospitality from $9.50 to $9.00 and set an “equal weight” rating on the stock in a research report on Friday, September 13th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $9.92.

DiamondRock Hospitality Stock Down 1.1 %

Shares of NYSE DRH opened at $9.00 on Friday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 2.03 and a current ratio of 2.03. 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 $1.89 billion, a P/E ratio of 25.00, a PEG ratio of 4.27 and a beta of 1.60. The stock’s fifty day moving average is $8.64 and its 200 day moving average is $8.58.

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

DiamondRock Hospitality Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Monday, September 30th were paid a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.33%. The ex-dividend date of this dividend was Monday, September 30th. DiamondRock Hospitality’s payout ratio is 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.