DiamondRock Hospitality (NYSE:DRH) Shares Sold by Natixis Advisors LLC

Natixis Advisors LLC lowered its stake in shares of DiamondRock Hospitality (NYSE:DRH) by 5.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 71,875 shares of the real estate investment trust’s stock after selling 3,897 shares during the period. Natixis Advisors LLC’s holdings in DiamondRock Hospitality were worth $627,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in DRH. Quarry LP boosted its stake in shares of DiamondRock Hospitality by 2,093.9% during the 2nd quarter. Quarry LP now owns 3,949 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 3,769 shares during the last quarter. Headlands Technologies LLC purchased a new position in shares of DiamondRock Hospitality during the second quarter valued at approximately $42,000. Mirae Asset Global Investments Co. Ltd. boosted its position in DiamondRock Hospitality by 35.1% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,153 shares of the real estate investment trust’s stock worth $73,000 after acquiring an additional 2,116 shares during the last quarter. Harbor Capital Advisors Inc. purchased a new stake in DiamondRock Hospitality in the 3rd quarter worth approximately $74,000. Finally, Choreo LLC acquired a new position in DiamondRock Hospitality in the 2nd quarter valued at $89,000.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Evercore ISI lowered DiamondRock Hospitality from an “outperform” rating to an “inline” rating and set a $10.50 price target on the stock. in a research note on Friday, November 15th. Compass Point upgraded shares of DiamondRock Hospitality from a “neutral” rating to a “buy” rating and set a $10.00 target price for the company in a report on Monday, August 5th. Truist Financial cut 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. StockNews.com raised shares of DiamondRock Hospitality from a “sell” rating to a “hold” rating in a research note on Tuesday, November 12th. Finally, Stifel Nicolaus lowered 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 research report on Friday, November 22nd. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $10.13.

DiamondRock Hospitality Price Performance

Shares of DiamondRock Hospitality stock opened at $9.20 on Thursday. DiamondRock Hospitality has a 52 week low of $7.74 and a 52 week high of $9.99. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.66. The stock has a market cap of $1.91 billion, a PE ratio of 32.86, a price-to-earnings-growth ratio of 5.45 and a beta of 1.60. The company’s 50-day moving average price is $8.96 and its two-hundred day moving average price is $8.57.

DiamondRock Hospitality Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Monday, September 30th were issued a $0.03 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.30%. DiamondRock Hospitality’s dividend payout ratio is 42.86%.

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.