Choreo LLC Acquires Shares of 10,755 DiamondRock Hospitality (NYSE:DRH)

Choreo LLC acquired a new stake in shares of DiamondRock Hospitality (NYSE:DRH) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 10,755 shares of the real estate investment trust’s stock, valued at approximately $89,000.

Other institutional investors also recently added to or reduced their stakes in the company. Quest Partners LLC boosted its holdings in shares of DiamondRock Hospitality by 59.9% in the 2nd quarter. Quest Partners LLC now owns 135,350 shares of the real estate investment trust’s stock worth $1,144,000 after acquiring an additional 50,719 shares in 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 worth $22,127,000 after acquiring an additional 43,050 shares in the last quarter. Wolverine Asset Management LLC boosted its holdings in shares of DiamondRock Hospitality by 147.0% in the 2nd quarter. Wolverine Asset Management LLC now owns 165,030 shares of the real estate investment trust’s stock worth $1,395,000 after acquiring an additional 98,209 shares in the last quarter. Picton Mahoney Asset Management acquired a new position in shares of DiamondRock Hospitality in the 2nd quarter worth approximately $170,000. Finally, Van ECK Associates Corp boosted its holdings in shares of DiamondRock Hospitality by 6.7% in the 2nd quarter. Van ECK Associates Corp now owns 32,191 shares of the real estate investment trust’s stock worth $272,000 after acquiring an additional 2,028 shares in the last quarter.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Truist Financial reduced 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. Compass Point upgraded shares of 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. Wells Fargo & Company dropped their price objective on shares of DiamondRock Hospitality from $9.50 to $9.00 and set an “equal weight” rating for the company in a research report on Friday, September 13th. Finally, StockNews.com upgraded shares of DiamondRock Hospitality from a “sell” rating to a “hold” rating in a research report on Saturday, August 10th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $9.92.

DiamondRock Hospitality Stock Performance

Shares of DiamondRock Hospitality stock opened at $9.05 on Friday. The firm has a fifty day moving average of $8.39 and a two-hundred day moving average of $8.67. The stock has a market capitalization of $1.90 billion, a price-to-earnings ratio of 25.14, a PEG ratio of 4.07 and a beta of 1.60. DiamondRock Hospitality has a 52 week low of $7.33 and a 52 week high of $9.99. 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 (NYSE:DRH) last issued its earnings results on Thursday, August 1st. The real estate investment trust reported $0.10 EPS for the quarter, missing the consensus estimate of $0.32 by ($0.22). The business had revenue of $309.28 million for the quarter, compared to the consensus estimate of $301.77 million. DiamondRock Hospitality had a net margin of 6.43% and a return on equity of 4.31%. The business’s revenue was up 6.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.32 EPS. As a group, equities research analysts predict that DiamondRock Hospitality will post 0.98 EPS for the current year.

DiamondRock Hospitality Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Monday, September 30th will be given a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 1.33%. The ex-dividend date of this dividend is Monday, September 30th. DiamondRock Hospitality’s payout ratio is 33.33%.

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.