Inspire Investing LLC Grows Position in DiamondRock Hospitality (NYSE:DRH)

Inspire Investing LLC raised its holdings in DiamondRock Hospitality (NYSE:DRH) by 10.9% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 50,971 shares of the real estate investment trust’s stock after acquiring an additional 5,019 shares during the period. Inspire Investing LLC’s holdings in DiamondRock Hospitality were worth $431,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Louisiana State Employees Retirement System raised its holdings in shares of DiamondRock Hospitality by 1.8% in the 2nd quarter. Louisiana State Employees Retirement System now owns 105,700 shares of the real estate investment trust’s stock valued at $893,000 after acquiring an additional 1,900 shares in the last quarter. Van ECK Associates Corp increased its position in shares of DiamondRock Hospitality by 6.7% during the 2nd 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 last quarter. Quadrant Capital Group LLC increased its position in shares of DiamondRock Hospitality by 195.7% during the 4th quarter. Quadrant Capital Group LLC now owns 3,330 shares of the real estate investment trust’s stock valued at $31,000 after purchasing an additional 2,204 shares during the last quarter. Parallel Advisors LLC increased its position in shares of DiamondRock Hospitality by 313.5% during the 4th quarter. Parallel Advisors LLC now owns 3,196 shares of the real estate investment trust’s stock valued at $30,000 after purchasing an additional 2,423 shares during the last quarter. Finally, LDR Capital Management LLC increased its position in shares of DiamondRock Hospitality by 25.5% during the 1st quarter. LDR Capital Management LLC now owns 13,244 shares of the real estate investment trust’s stock valued at $127,000 after purchasing an additional 2,692 shares during the last quarter.

Analyst Ratings Changes

Several brokerages have recently commented on DRH. StockNews.com upgraded DiamondRock Hospitality from a “sell” rating to a “hold” rating in a research report on Saturday, August 10th. Truist Financial reduced their price target on DiamondRock Hospitality from $11.00 to $10.00 and set a “hold” rating on the stock in a research report on Wednesday, September 4th. Wells Fargo & Company reduced their price target 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. Finally, Compass Point upgraded DiamondRock Hospitality from a “neutral” rating to a “buy” rating and set a $10.00 price target on the stock in a research report on Monday, August 5th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, DiamondRock Hospitality currently has an average rating of “Hold” and a consensus price target of $9.92.

DiamondRock Hospitality Price Performance

DRH opened at $9.05 on Friday. The firm has a market cap 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 1 year low of $7.33 and a 1 year high of $9.99. The stock’s 50 day simple moving average is $8.39 and its 200 day simple moving average is $8.67. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.03 and a quick ratio of 2.03.

DiamondRock Hospitality (NYSE:DRH) last issued its quarterly earnings data on Thursday, August 1st. The real estate investment trust reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.22). The business 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%. DiamondRock Hospitality’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.32 earnings per share. As a group, analysts predict that DiamondRock Hospitality will post 0.98 earnings per share for the current year.

DiamondRock Hospitality Dividend Announcement

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