DiamondRock Hospitality (NYSE:DRH) Shares Purchased by Truist Financial Corp

Truist Financial Corp raised its holdings in DiamondRock Hospitality (NYSE:DRH) by 14.1% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 55,605 shares of the real estate investment trust’s stock after buying an additional 6,886 shares during the period. Truist Financial Corp’s holdings in DiamondRock Hospitality were worth $470,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Quarry LP increased its stake in shares of DiamondRock Hospitality by 2,093.9% during the second quarter. Quarry LP now owns 3,949 shares of the real estate investment trust’s stock worth $33,000 after acquiring an additional 3,769 shares during the period. Headlands Technologies LLC purchased a new position in shares of DiamondRock Hospitality during the second quarter valued at approximately $42,000. Choreo LLC acquired a new position in DiamondRock Hospitality during the second quarter worth approximately $89,000. Evergreen Capital Management LLC increased its position in DiamondRock Hospitality by 14.4% during the second quarter. Evergreen Capital Management LLC now owns 14,372 shares of the real estate investment trust’s stock worth $122,000 after purchasing an additional 1,810 shares during the last quarter. Finally, LDR Capital Management LLC increased its position in shares of DiamondRock Hospitality by 25.5% in the first quarter. LDR Capital Management LLC now owns 13,244 shares of the real estate investment trust’s stock worth $127,000 after acquiring an additional 2,692 shares in the last quarter.

DiamondRock Hospitality Price Performance

NYSE:DRH opened at $9.12 on Thursday. The firm has a market cap of $1.91 billion, a PE ratio of 25.32, a price-to-earnings-growth ratio of 4.27 and a beta of 1.60. DiamondRock Hospitality has a 12 month low of $7.33 and a 12 month high of $9.99. The company’s 50-day moving average price is $8.60 and its two-hundred day moving average price is $8.58. The company has a quick ratio of 2.03, a current ratio of 2.03 and a debt-to-equity ratio of 0.71.

DiamondRock Hospitality (NYSE:DRH) last posted its quarterly earnings results on Thursday, August 1st. The real estate investment trust reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.22). DiamondRock Hospitality had a net margin of 6.43% and a return on equity of 4.31%. The firm had revenue of $309.28 million during the quarter, compared to the consensus estimate of $301.77 million. During the same quarter in the prior year, the business earned $0.32 EPS. DiamondRock Hospitality’s revenue was up 6.2% on a year-over-year basis. On average, equities analysts anticipate that DiamondRock Hospitality will post 0.98 EPS for the current fiscal year.

DiamondRock Hospitality Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Monday, September 30th were paid a $0.03 dividend. The ex-dividend date was Monday, September 30th. This represents a $0.12 dividend on an annualized basis and a yield of 1.32%. DiamondRock Hospitality’s dividend payout ratio is 33.33%.

Analyst Ratings Changes

A number of research analysts have commented on DRH shares. Truist Financial reduced their price objective 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. StockNews.com raised shares of DiamondRock Hospitality from a “sell” rating to a “hold” rating in a research note on Saturday, August 10th. Compass Point raised shares of DiamondRock Hospitality from a “neutral” rating to a “buy” rating and set a $10.00 price objective on the stock in a research note on Monday, August 5th. Finally, Wells Fargo & Company lowered their price objective on shares of DiamondRock Hospitality from $9.50 to $9.00 and set an “equal weight” rating on the stock in a research note on Friday, September 13th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $9.92.

DiamondRock Hospitality Company 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.