Charles Schwab Investment Management Inc. Increases Stock Position in DiamondRock Hospitality (NYSE:DRH)

Charles Schwab Investment Management Inc. raised its position in DiamondRock Hospitality (NYSE:DRH) by 2.4% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,475,664 shares of the real estate investment trust’s stock after buying an additional 103,209 shares during the period. Charles Schwab Investment Management Inc. owned about 2.16% of DiamondRock Hospitality worth $39,073,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the company. Evergreen Capital Management LLC grew its position in shares of DiamondRock Hospitality by 14.4% during the 2nd quarter. Evergreen Capital Management LLC now owns 14,372 shares of the real estate investment trust’s stock valued at $122,000 after acquiring an additional 1,810 shares during the period. Louisiana State Employees Retirement System boosted its position in DiamondRock Hospitality by 1.8% during the second quarter. Louisiana State Employees Retirement System now owns 105,700 shares of the real estate investment trust’s stock worth $893,000 after purchasing an additional 1,900 shares in the last quarter. Van ECK Associates Corp grew its holdings in DiamondRock Hospitality by 6.7% in the second quarter. Van ECK Associates Corp now owns 32,191 shares of the real estate investment trust’s stock valued at $272,000 after purchasing an additional 2,028 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its position in shares of 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 valued at $73,000 after buying an additional 2,116 shares in the last quarter. Finally, Quarry LP increased its position 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 valued at $33,000 after buying an additional 3,769 shares in the last quarter.

Analysts Set New Price Targets

DRH has been the topic of a number of research analyst reports. 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. Wells Fargo & Company dropped their target price on shares of 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. Compass Point upgraded shares of DiamondRock Hospitality from a “neutral” rating to a “buy” rating and set a $10.00 price target for the company in a research report on Monday, August 5th. StockNews.com upgraded DiamondRock Hospitality from a “sell” rating to a “hold” rating in a report on Tuesday, November 12th. Finally, Evercore ISI lowered DiamondRock Hospitality from an “outperform” rating to an “inline” rating and set a $10.50 price objective for the company. in a research note on Friday, November 15th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $10.13.

DiamondRock Hospitality Stock Performance

DRH opened at $9.34 on Tuesday. The firm has a market capitalization of $1.94 billion, a PE ratio of 33.36, a PEG ratio of 5.41 and a beta of 1.60. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.66. DiamondRock Hospitality has a twelve month low of $7.74 and a twelve month high of $9.99. The firm’s 50-day moving average price is $8.97 and its 200 day moving average price is $8.58.

DiamondRock Hospitality Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Monday, September 30th were given a $0.03 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.28%. DiamondRock Hospitality’s dividend payout ratio (DPR) is presently 42.86%.

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.