Fisher Asset Management LLC Sells 56,783 Shares of DiamondRock Hospitality (NYSE:DRH)

Fisher Asset Management LLC reduced its holdings in shares of DiamondRock Hospitality (NYSE:DRH) by 2.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,918,644 shares of the real estate investment trust’s stock after selling 56,783 shares during the period. Fisher Asset Management LLC owned 0.92% of DiamondRock Hospitality worth $18,016,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. Evergreen Capital Management LLC bought a new position in DiamondRock Hospitality during the third quarter worth $90,000. First Trust Direct Indexing L.P. grew its stake in shares of DiamondRock Hospitality by 8.8% in the 4th quarter. First Trust Direct Indexing L.P. now owns 14,660 shares of the real estate investment trust’s stock valued at $138,000 after buying an additional 1,181 shares during the period. Jump Financial LLC grew its stake in shares of DiamondRock Hospitality by 80.8% in the 3rd quarter. Jump Financial LLC now owns 20,500 shares of the real estate investment trust’s stock valued at $165,000 after buying an additional 9,164 shares during the period. Inspire Advisors LLC acquired a new position in DiamondRock Hospitality during the 3rd quarter worth approximately $170,000. Finally, QRG Capital Management Inc. bought a new position in DiamondRock Hospitality in the third quarter worth approximately $196,000.

DiamondRock Hospitality Trading Up 0.7 %

NYSE DRH opened at $8.83 on Monday. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 0.71. The business has a fifty day simple moving average of $9.32 and a 200 day simple moving average of $9.01. DiamondRock Hospitality has a 12 month low of $7.33 and a 12 month high of $9.99. The firm has a market capitalization of $1.86 billion, a P/E ratio of 24.53 and a beta of 1.61.

DiamondRock Hospitality (NYSE:DRH) last announced its earnings results on Friday, February 23rd. The real estate investment trust reported $0.04 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.14). DiamondRock Hospitality had a net margin of 7.86% and a return on equity of 5.20%. 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 company earned $0.23 EPS. The business’s revenue for the quarter was up 3.3% on a year-over-year basis. On average, analysts predict that DiamondRock Hospitality will post 0.96 EPS for the current fiscal year.

DiamondRock Hospitality Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Friday, March 29th were paid a $0.03 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.36%. DiamondRock Hospitality’s payout ratio is presently 33.33%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on DRH shares. Wolfe Research started coverage on DiamondRock Hospitality in a report on Wednesday, January 10th. They set an “outperform” rating and a $11.00 price objective for the company. Truist Financial boosted their price target on shares of DiamondRock Hospitality from $10.00 to $11.00 and gave the company a “hold” rating in a research note on Thursday, March 14th. StockNews.com raised shares of DiamondRock Hospitality from a “sell” rating to a “hold” rating in a research note on Friday. Finally, Stifel Nicolaus boosted their target price on shares of DiamondRock Hospitality from $10.00 to $10.50 and gave the stock a “buy” rating in a research report on Friday, February 23rd. Four analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company currently 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.