Intech Investment Management LLC Purchases 55,086 Shares of DiamondRock Hospitality (NYSE:DRH)

Intech Investment Management LLC grew its position in shares of DiamondRock Hospitality (NYSE:DRH) by 199.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 82,739 shares of the real estate investment trust’s stock after acquiring an additional 55,086 shares during the period. Intech Investment Management LLC’s holdings in DiamondRock Hospitality were worth $722,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Quarry LP grew its stake in shares of DiamondRock Hospitality by 2,093.9% in the second quarter. Quarry LP now owns 3,949 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 3,769 shares during the last quarter. Headlands Technologies LLC purchased a new position in shares of DiamondRock Hospitality during the second quarter valued at about $42,000. Mirae Asset Global Investments Co. Ltd. raised its stake in DiamondRock Hospitality by 35.1% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,153 shares of the real estate investment trust’s stock worth $73,000 after buying an additional 2,116 shares in the last quarter. Harbor Capital Advisors Inc. purchased a new stake in DiamondRock Hospitality in the third quarter worth about $74,000. Finally, Choreo LLC bought a new stake in DiamondRock Hospitality during the 2nd quarter valued at approximately $89,000.

DiamondRock Hospitality Stock Up 0.9 %

DRH stock opened at $9.29 on Friday. The stock has a market capitalization of $1.93 billion, a P/E ratio of 33.16, a P/E/G ratio of 5.36 and a beta of 1.60. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.73 and a quick ratio of 1.73. DiamondRock Hospitality has a 1-year low of $7.74 and a 1-year high of $9.99. The business has a fifty day moving average price of $8.97 and a 200-day moving average price of $8.58.

DiamondRock Hospitality Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Monday, September 30th were given a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 1.29%. The ex-dividend date was Monday, September 30th. DiamondRock Hospitality’s dividend payout ratio (DPR) is 42.86%.

Wall Street Analysts Forecast Growth

DRH has been the subject of several recent research reports. 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 research report on Monday, August 5th. StockNews.com raised DiamondRock Hospitality from a “sell” rating to a “hold” rating in a research report on Tuesday, November 12th. Wells Fargo & Company cut their price target on DiamondRock Hospitality from $9.50 to $9.00 and set an “equal weight” rating on the stock in a research note on Friday, September 13th. Truist Financial dropped their target price on DiamondRock Hospitality from $11.00 to $10.00 and set a “hold” rating on the stock in a report on Wednesday, September 4th. Finally, Evercore ISI downgraded DiamondRock Hospitality from an “outperform” rating to an “inline” rating and set a $10.50 price target for the company. in a report on Friday, November 15th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $10.13.

About DiamondRock Hospitality

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.