Allspring Global Investments Holdings LLC Grows Holdings in DiamondRock Hospitality (NYSE:DRH)

Allspring Global Investments Holdings LLC increased its position in shares of DiamondRock Hospitality (NYSE:DRHGet Rating) by 617.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 230,118 shares of the real estate investment trust’s stock after buying an additional 198,033 shares during the period. Allspring Global Investments Holdings LLC’s holdings in DiamondRock Hospitality were worth $1,728,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Harbor Investment Advisory LLC increased its stake in DiamondRock Hospitality by 52.8% during the 2nd quarter. Harbor Investment Advisory LLC now owns 4,829 shares of the real estate investment trust’s stock worth $40,000 after buying an additional 1,669 shares during the period. US Bancorp DE increased its stake in DiamondRock Hospitality by 1,465.0% during the 2nd quarter. US Bancorp DE now owns 7,778 shares of the real estate investment trust’s stock worth $64,000 after buying an additional 7,281 shares during the period. Mizuho Securities USA LLC bought a new stake in shares of DiamondRock Hospitality in the 3rd quarter worth about $83,000. Xponance Inc. acquired a new stake in shares of DiamondRock Hospitality in the 2nd quarter valued at about $94,000. Finally, Scotia Capital Inc. acquired a new stake in shares of DiamondRock Hospitality in the 2nd quarter valued at about $95,000.

Analyst Upgrades and Downgrades

DRH has been the subject of several research analyst reports. Compass Point lowered their price objective on DiamondRock Hospitality to $11.00 in a report on Tuesday, November 15th. Evercore ISI raised DiamondRock Hospitality from an “in-line” rating to an “outperform” rating in a report on Tuesday, October 18th. StockNews.com assumed coverage on DiamondRock Hospitality in a report on Wednesday, October 12th. They set a “hold” rating on the stock. Finally, Morgan Stanley reduced their target price on DiamondRock Hospitality from $10.00 to $9.00 and set an “equal weight” rating on the stock in a report on Wednesday. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $10.50.

DiamondRock Hospitality Trading Up 0.7 %

Shares of NYSE DRH opened at $8.66 on Friday. The company has a market cap of $1.83 billion, a price-to-earnings ratio of 24.06 and a beta of 1.63. DiamondRock Hospitality has a 12-month low of $7.18 and a 12-month high of $11.15. The company has a current ratio of 3.29, a quick ratio of 3.29 and a debt-to-equity ratio of 0.85. The stock’s 50 day simple moving average is $8.68 and its 200 day simple moving average is $8.71.

DiamondRock Hospitality Dividend Announcement

The business also recently declared a None dividend, which was paid on Thursday, January 12th. Investors of record on Friday, December 30th were issued a $0.06 dividend. This represents a dividend yield of 1.3%. The ex-dividend date was Thursday, December 29th. DiamondRock Hospitality’s dividend payout ratio (DPR) is 33.33%.

DiamondRock Hospitality Company Profile

(Get Rating)

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 top gateway markets and destination resort locations. The Company owns 31 premium quality hotels with over 10,000 rooms. The Company has strategically positioned its hotels to be operated both under leading global brand families as well as unique boutique hotels in the lifestyle segment.

Featured Stories

Want to see what other hedge funds are holding DRH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for DiamondRock Hospitality (NYSE:DRHGet Rating).

Institutional Ownership by Quarter for DiamondRock Hospitality (NYSE:DRH)

Receive News & Ratings for DiamondRock Hospitality Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for DiamondRock Hospitality and related companies with MarketBeat.com's FREE daily email newsletter.