DiamondRock Hospitality (NYSE:DRH) Shares Sold by abrdn plc

abrdn plc reduced its position in shares of DiamondRock Hospitality (NYSE:DRH) by 20.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,209,958 shares of the real estate investment trust’s stock after selling 308,945 shares during the period. abrdn plc owned 0.58% of DiamondRock Hospitality worth $11,362,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. National Bank of Canada FI purchased a new position in DiamondRock Hospitality during the third quarter worth about $30,000. Evergreen Capital Management LLC purchased a new position in DiamondRock Hospitality during the third quarter worth about $90,000. Jump Financial LLC boosted its stake in DiamondRock Hospitality by 80.8% during the third quarter. Jump Financial LLC now owns 20,500 shares of the real estate investment trust’s stock worth $165,000 after buying an additional 9,164 shares during the period. Inspire Advisors LLC purchased a new position in DiamondRock Hospitality during the third quarter worth about $170,000. Finally, QRG Capital Management Inc. purchased a new position in DiamondRock Hospitality during the third quarter worth about $196,000.

DiamondRock Hospitality Stock Down 1.6 %

Shares of DiamondRock Hospitality stock opened at $9.08 on Friday. DiamondRock Hospitality has a 52-week low of $7.33 and a 52-week high of $9.99. The company has a 50 day moving average of $9.36 and a 200 day moving average of $8.96. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 0.71. The company has a market capitalization of $1.91 billion, a P/E ratio of 25.21 and a beta of 1.60.

DiamondRock Hospitality (NYSE:DRH) last issued its quarterly earnings results on Friday, February 23rd. The real estate investment trust reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.14). DiamondRock Hospitality had a return on equity of 5.29% and a net margin of 8.03%. The firm had revenue of $263.50 million during the quarter, compared to analysts’ expectations of $261.45 million. During the same quarter in the prior year, the firm earned $0.23 EPS. The firm’s revenue was up 3.3% compared to the same quarter last year. As a group, research analysts forecast that DiamondRock Hospitality will post 0.96 EPS for the current fiscal year.

DiamondRock Hospitality Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Friday, March 29th were issued a dividend of $0.03 per share. The ex-dividend date was Wednesday, March 27th. This represents a $0.12 dividend on an annualized basis and a yield of 1.32%. DiamondRock Hospitality’s payout ratio is currently 33.33%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Wolfe Research assumed coverage on shares of DiamondRock Hospitality in a research note on Wednesday, January 10th. They set an “outperform” rating and a $11.00 target price for the company. Truist Financial increased their target price on shares of DiamondRock Hospitality from $10.00 to $11.00 and gave the stock a “hold” rating in a research note on Thursday, March 14th. Stifel Nicolaus raised their price objective on shares of DiamondRock Hospitality from $10.00 to $10.50 and gave the company a “buy” rating in a research note on Friday, February 23rd. Finally, StockNews.com lowered shares of DiamondRock Hospitality from a “hold” rating to a “sell” rating in a research note on Saturday, February 3rd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, DiamondRock Hospitality has a consensus rating of “Hold” and an average target price of $10.30.

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 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.