DekaBank Deutsche Girozentrale Sells 17,194 Shares of DiamondRock Hospitality (NYSE:DRH)

DekaBank Deutsche Girozentrale lowered its holdings in shares of DiamondRock Hospitality (NYSE:DRH) by 21.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 63,235 shares of the real estate investment trust’s stock after selling 17,194 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in DiamondRock Hospitality were worth $594,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of DRH. JPMorgan Chase & Co. lifted its position in DiamondRock Hospitality by 133.3% during the first quarter. JPMorgan Chase & Co. now owns 4,720,222 shares of the real estate investment trust’s stock valued at $38,376,000 after purchasing an additional 2,697,132 shares during the last quarter. Norges Bank bought a new position in DiamondRock Hospitality during the fourth quarter valued at $16,550,000. Goldman Sachs Group Inc. lifted its position in DiamondRock Hospitality by 92.6% during the second quarter. Goldman Sachs Group Inc. now owns 4,072,464 shares of the real estate investment trust’s stock valued at $32,620,000 after purchasing an additional 1,957,524 shares during the last quarter. Balyasny Asset Management L.P. lifted its position in DiamondRock Hospitality by 989.5% during the first quarter. Balyasny Asset Management L.P. now owns 2,126,866 shares of the real estate investment trust’s stock valued at $17,291,000 after purchasing an additional 1,931,649 shares during the last quarter. Finally, State Street Corp lifted its position in DiamondRock Hospitality by 12.9% during the first quarter. State Street Corp now owns 13,538,478 shares of the real estate investment trust’s stock valued at $136,739,000 after purchasing an additional 1,548,369 shares during the last quarter.

DiamondRock Hospitality Trading Up 0.4 %

Shares of DRH opened at $9.32 on Tuesday. DiamondRock Hospitality has a 1-year low of $7.33 and a 1-year high of $9.99. The company has a 50-day moving average of $9.40 and a 200 day moving average of $8.92. The firm has a market capitalization of $1.96 billion, a price-to-earnings ratio of 25.88 and a beta of 1.60. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.00 and a quick ratio of 2.00.

DiamondRock Hospitality (NYSE:DRH) last announced its quarterly earnings data on Friday, February 23rd. The real estate investment trust reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.14). The company had revenue of $263.50 million for the quarter, compared to the consensus estimate of $261.45 million. DiamondRock Hospitality had a net margin of 8.03% and a return on equity of 5.29%. The company’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.23 EPS. On average, research analysts expect that DiamondRock Hospitality will post 0.96 EPS for the current year.

DiamondRock Hospitality Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Friday, March 29th were given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 1.29%. The ex-dividend date of this dividend was Wednesday, March 27th. DiamondRock Hospitality’s dividend payout ratio (DPR) is 33.33%.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Truist Financial increased their price objective on shares of DiamondRock Hospitality from $10.00 to $11.00 and gave the company a “hold” rating in a research report on Thursday, March 14th. Wells Fargo & Company raised their target price on shares of DiamondRock Hospitality from $9.00 to $10.00 and gave the stock an “equal weight” rating in a report on Friday, December 22nd. Stifel Nicolaus raised their target price on shares of DiamondRock Hospitality from $10.00 to $10.50 and gave the stock a “buy” rating in a report on Friday, February 23rd. Wolfe Research initiated coverage on shares of DiamondRock Hospitality in a report on Wednesday, January 10th. They issued an “outperform” rating and a $11.00 target price for the company. Finally, StockNews.com lowered shares of DiamondRock Hospitality from a “hold” rating to a “sell” rating in a report on Saturday, February 3rd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, DiamondRock Hospitality currently has an average rating of “Hold” and an average target price of $10.30.

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.