Mutual of America Capital Management LLC Trims Position in DiamondRock Hospitality (NYSE:DRH)

Mutual of America Capital Management LLC trimmed its holdings in shares of DiamondRock Hospitality (NYSE:DRH) by 9.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 31,173 shares of the real estate investment trust’s stock after selling 3,354 shares during the quarter. Mutual of America Capital Management LLC’s holdings in DiamondRock Hospitality were worth $272,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of DRH. Metis Global Partners LLC increased its stake in shares of DiamondRock Hospitality by 29.6% in the third quarter. Metis Global Partners LLC now owns 21,346 shares of the real estate investment trust’s stock worth $186,000 after purchasing an additional 4,878 shares in the last quarter. Victory Capital Management Inc. boosted its stake in DiamondRock Hospitality by 0.9% during the third quarter. Victory Capital Management Inc. now owns 2,642,787 shares of the real estate investment trust’s stock valued at $23,072,000 after buying an additional 24,249 shares during the last quarter. GSA Capital Partners LLP bought a new position in shares of DiamondRock Hospitality during the 3rd quarter valued at approximately $126,000. State of New Jersey Common Pension Fund D raised its stake in DiamondRock Hospitality by 3.7% during the third quarter. State of New Jersey Common Pension Fund D now owns 229,847 shares of the real estate investment trust’s stock valued at $2,007,000 after purchasing an additional 8,173 shares in the last quarter. Finally, QRG Capital Management Inc. grew its stake in shares of DiamondRock Hospitality by 5.1% in the 3rd quarter. QRG Capital Management Inc. now owns 96,917 shares of the real estate investment trust’s stock worth $846,000 after buying an additional 4,678 shares in the last quarter.

DiamondRock Hospitality Stock Down 0.1 %

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

DiamondRock Hospitality Announces Dividend

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

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Evercore ISI lowered shares of DiamondRock Hospitality from an “outperform” rating to an “inline” rating and set a $10.50 price objective for the company. in a research note on Friday, November 15th. Truist Financial reduced their price objective on DiamondRock Hospitality from $11.00 to $10.00 and set a “hold” rating on the stock in a report on Wednesday, September 4th. Stifel Nicolaus lowered shares of DiamondRock Hospitality from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $10.75 to $10.25 in a research note on Friday, November 22nd. StockNews.com raised shares of DiamondRock Hospitality from a “sell” rating to a “hold” rating in a report on Tuesday, November 12th. 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 report on Monday, August 5th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $10.13.

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.