abrdn plc Has $633,000 Position in DiamondRock Hospitality (NYSE:DRH)

abrdn plc boosted its position in DiamondRock Hospitality (NYSE:DRH) by 53.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 69,071 shares of the real estate investment trust’s stock after buying an additional 24,070 shares during the quarter. abrdn plc’s holdings in DiamondRock Hospitality were worth $633,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of the company. Orion Portfolio Solutions LLC boosted its holdings in shares of DiamondRock Hospitality by 1.6% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 104,965 shares of the real estate investment trust’s stock valued at $916,000 after buying an additional 1,652 shares during the last quarter. Vert Asset Management LLC grew its position in shares of DiamondRock Hospitality by 2.1% in the 4th quarter. Vert Asset Management LLC now owns 82,570 shares of the real estate investment trust’s stock valued at $746,000 after acquiring an additional 1,729 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its position in shares of DiamondRock Hospitality by 35.1% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,153 shares of the real estate investment trust’s stock valued at $73,000 after acquiring an additional 2,116 shares during the period. Daiwa Securities Group Inc. increased its stake in shares of DiamondRock Hospitality by 3.9% during the 3rd quarter. Daiwa Securities Group Inc. now owns 68,728 shares of the real estate investment trust’s stock worth $600,000 after purchasing an additional 2,598 shares during the last quarter. Finally, KBC Group NV raised its holdings in shares of DiamondRock Hospitality by 55.9% in the 4th quarter. KBC Group NV now owns 10,436 shares of the real estate investment trust’s stock valued at $94,000 after purchasing an additional 3,744 shares during the period.

DiamondRock Hospitality Stock Performance

DRH opened at $8.63 on Wednesday. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.73 and a quick ratio of 1.73. The business has a fifty day simple moving average of $9.10 and a 200 day simple moving average of $8.85. DiamondRock Hospitality has a 1 year low of $7.74 and a 1 year high of $10.00. The company has a market capitalization of $1.79 billion, a PE ratio of 30.80, a price-to-earnings-growth ratio of 4.88 and a beta of 1.57.

DiamondRock Hospitality Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 14th. Investors of record on Tuesday, December 31st were paid a $0.32 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This is an increase from DiamondRock Hospitality’s previous quarterly dividend of $0.03. This represents a $1.28 annualized dividend and a dividend yield of 14.84%. DiamondRock Hospitality’s dividend payout ratio is 42.86%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on DRH shares. Stifel Nicolaus cut DiamondRock Hospitality from a “buy” rating to a “hold” rating and reduced their price target for the stock from $10.75 to $10.25 in a report on Friday, November 22nd. Wells Fargo & Company boosted their target price on DiamondRock Hospitality from $10.00 to $10.50 and gave the stock an “equal weight” rating in a report on Monday, December 9th. Evercore ISI downgraded DiamondRock Hospitality from an “outperform” rating to an “inline” rating and set a $10.50 price target for the company. in a report on Friday, November 15th. Finally, StockNews.com upgraded shares of DiamondRock Hospitality from a “sell” rating to a “hold” rating in a report on Tuesday, November 12th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, DiamondRock Hospitality currently has an average rating of “Hold” and an average target price of $10.25.

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.