Dana Investment Advisors Inc. Purchases 65,861 Shares of DiamondRock Hospitality (NYSE:DRH)

Dana Investment Advisors Inc. grew its position in shares of DiamondRock Hospitality (NYSE:DRH) by 8.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 822,407 shares of the real estate investment trust’s stock after buying an additional 65,861 shares during the quarter. Dana Investment Advisors Inc. owned approximately 0.39% of DiamondRock Hospitality worth $6,949,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Parallel Advisors LLC boosted its holdings in shares of DiamondRock Hospitality by 313.5% in the 4th quarter. Parallel Advisors LLC now owns 3,196 shares of the real estate investment trust’s stock worth $30,000 after acquiring an additional 2,423 shares in the last quarter. Quarry LP raised its position in DiamondRock Hospitality by 2,093.9% in the 2nd quarter. Quarry LP now owns 3,949 shares of the real estate investment trust’s stock valued at $33,000 after purchasing an additional 3,769 shares during the last quarter. Headlands Technologies LLC acquired a new position in DiamondRock Hospitality in the second quarter worth $42,000. Choreo LLC bought a new stake in shares of DiamondRock Hospitality during the second quarter worth $89,000. Finally, Evergreen Capital Management LLC increased its stake in shares of DiamondRock Hospitality by 14.4% in the second quarter. Evergreen Capital Management LLC now owns 14,372 shares of the real estate investment trust’s stock valued at $122,000 after buying an additional 1,810 shares in the last quarter.

Analyst Ratings Changes

Several research analysts recently issued reports on DRH shares. Wells Fargo & Company reduced their price target 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 target price on the stock in a research report on Monday, August 5th. Truist Financial decreased 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. 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 investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $9.92.

DiamondRock Hospitality Price Performance

DRH opened at $8.76 on Wednesday. The company has a fifty day moving average price of $8.44 and a two-hundred day moving average price of $8.63. The company has a debt-to-equity ratio of 0.71, a quick ratio of 2.03 and a current ratio of 2.03. The firm has a market capitalization of $1.84 billion, a PE ratio of 24.32, a P/E/G ratio of 4.43 and a beta of 1.60. DiamondRock Hospitality has a 52 week low of $7.33 and a 52 week high of $9.99.

DiamondRock Hospitality (NYSE:DRH) last issued its earnings results on Thursday, August 1st. The real estate investment trust reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.22). The company had revenue of $309.28 million for 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% on a year-over-year basis. During the same quarter last year, the business posted $0.32 EPS. As a group, analysts anticipate that DiamondRock Hospitality will post 0.98 earnings per share for the current year.

DiamondRock Hospitality Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Monday, September 30th will be paid a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 1.37%. The ex-dividend date is Monday, September 30th. DiamondRock Hospitality’s payout ratio is presently 33.33%.

DiamondRock Hospitality Profile

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.