Jane Street Group LLC Boosts Stake in DiamondRock Hospitality (NYSE:DRH)

Jane Street Group LLC lifted its holdings in shares of DiamondRock Hospitality (NYSE:DRH) by 73.0% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 302,757 shares of the real estate investment trust’s stock after acquiring an additional 127,717 shares during the quarter. Jane Street Group LLC owned 0.15% of DiamondRock Hospitality worth $2,643,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Rush Island Management LP acquired a new position in DiamondRock Hospitality during the 3rd quarter worth $51,726,000. Millennium Management LLC bought a new position in DiamondRock Hospitality during the 2nd quarter worth approximately $15,118,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of DiamondRock Hospitality by 326.6% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,235,728 shares of the real estate investment trust’s stock worth $10,788,000 after acquiring an additional 946,073 shares in the last quarter. Hotchkis & Wiley Capital Management LLC bought a new stake in shares of DiamondRock Hospitality in the 3rd quarter valued at approximately $6,442,000. Finally, Wellington Management Group LLP raised its position in shares of DiamondRock Hospitality by 15.6% during the 3rd quarter. Wellington Management Group LLP now owns 4,925,093 shares of the real estate investment trust’s stock valued at $42,996,000 after acquiring an additional 663,529 shares in the last quarter.

DiamondRock Hospitality Trading Up 1.0 %

NYSE:DRH opened at $9.32 on Friday. The stock has a market cap of $1.93 billion, a PE ratio of 33.29, a price-to-earnings-growth ratio of 5.65 and a beta of 1.60. DiamondRock Hospitality has a fifty-two week low of $7.74 and a fifty-two week high of $10.00. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.73 and a quick ratio of 1.73. The stock’s 50-day moving average is $9.17 and its two-hundred day moving average is $8.69.

DiamondRock Hospitality Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 14th. Investors of record on Tuesday, December 31st will be given a dividend of $0.32 per share. The ex-dividend date is Tuesday, December 31st. This is an increase from DiamondRock Hospitality’s previous quarterly dividend of $0.03. This represents a $1.28 dividend on an annualized basis and a yield of 13.73%. DiamondRock Hospitality’s payout ratio is presently 42.86%.

Analyst Upgrades and Downgrades

A number of research firms have commented on DRH. Truist Financial decreased their price objective on shares of DiamondRock Hospitality from $11.00 to $10.00 and set a “hold” rating for the company in a report on Wednesday, September 4th. Evercore ISI downgraded shares of DiamondRock Hospitality from an “outperform” rating to an “inline” rating and set a $10.50 price objective for the company. in a research report on Friday, November 15th. Stifel Nicolaus cut shares of DiamondRock Hospitality from a “buy” rating to a “hold” rating and cut their target price for the stock from $10.75 to $10.25 in a report on Friday, November 22nd. StockNews.com raised DiamondRock Hospitality from a “sell” rating to a “hold” rating in a report on Tuesday, November 12th. Finally, Wells Fargo & Company increased their price objective on shares of DiamondRock Hospitality from $10.00 to $10.50 and gave the stock an “equal weight” rating in a report on Monday, December 9th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $10.38.

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.