Mitsubishi UFJ Asset Management Co. Ltd. Buys 9,406 Shares of DiamondRock Hospitality (NYSE:DRH)

Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of DiamondRock Hospitality (NYSE:DRH) by 7.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 131,139 shares of the real estate investment trust’s stock after buying an additional 9,406 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.06% of DiamondRock Hospitality worth $1,213,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Louisiana State Employees Retirement System bought a new position in shares of DiamondRock Hospitality during the fourth quarter valued at about $985,000. State Board of Administration of Florida Retirement System grew its stake in shares of DiamondRock Hospitality by 101.1% in the third quarter. State Board of Administration of Florida Retirement System now owns 132,028 shares of the real estate investment trust’s stock worth $1,060,000 after purchasing an additional 66,388 shares during the last quarter. Public Employees Retirement System of Ohio grew its stake in shares of DiamondRock Hospitality by 7.9% in the third quarter. Public Employees Retirement System of Ohio now owns 306,213 shares of the real estate investment trust’s stock worth $2,459,000 after purchasing an additional 22,438 shares during the last quarter. Invesco Ltd. grew its stake in shares of DiamondRock Hospitality by 3.1% in the third quarter. Invesco Ltd. now owns 5,455,648 shares of the real estate investment trust’s stock worth $43,809,000 after purchasing an additional 165,142 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in shares of DiamondRock Hospitality by 6.8% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 99,903 shares of the real estate investment trust’s stock worth $938,000 after purchasing an additional 6,396 shares during the last quarter.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. StockNews.com raised DiamondRock Hospitality from a “sell” rating to a “hold” rating in a research note on Friday, May 3rd. Truist Financial raised their target price on DiamondRock Hospitality from $10.00 to $11.00 and gave the stock a “hold” rating in a research note on Thursday, March 14th. Finally, Stifel Nicolaus raised their target price on DiamondRock Hospitality from $10.00 to $10.50 and gave the stock a “buy” rating in a research note on Friday, February 23rd. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $10.30.

DiamondRock Hospitality Stock Performance

Shares of DRH opened at $8.44 on Wednesday. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.04 and a quick ratio of 2.04. DiamondRock Hospitality has a one year low of $7.33 and a one year high of $9.99. The company has a 50-day simple moving average of $9.12 and a two-hundred day simple moving average of $9.07. The firm has a market capitalization of $1.77 billion, a PE ratio of 23.43, a price-to-earnings-growth ratio of 6.25 and a beta of 1.61.

DiamondRock Hospitality (NYSE:DRH) last released its earnings results on Friday, February 23rd. The real estate investment trust reported $0.04 earnings per share (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 business had revenue of $263.50 million for the quarter, compared to analysts’ expectations of $261.45 million. During the same quarter in the previous year, the business posted $0.23 earnings per share. DiamondRock Hospitality’s revenue for the quarter was up 3.3% on a year-over-year basis. On average, analysts anticipate that DiamondRock Hospitality will post 0.96 EPS for the current fiscal year.

DiamondRock Hospitality Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Friday, March 29th were issued 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 yield of 1.42%. DiamondRock Hospitality’s payout ratio is currently 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 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.