Allspring Global Investments Holdings LLC increased its position in shares of DiamondRock Hospitality (NYSE:DRH – Get 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 %
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
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.
- Get a free copy of the StockNews.com research report on DiamondRock Hospitality (DRH)
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