DiamondRock Hospitality (NYSE:DRH) Shares Sold by Inspire Investing LLC

Inspire Investing LLC cut its stake in shares of DiamondRock Hospitality (NYSE:DRH) by 6.9% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 47,447 shares of the real estate investment trust’s stock after selling 3,524 shares during the period. Inspire Investing LLC’s holdings in DiamondRock Hospitality were worth $414,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Centersquare Investment Management LLC lifted its position in DiamondRock Hospitality by 40.3% during the 1st quarter. Centersquare Investment Management LLC now owns 6,303,698 shares of the real estate investment trust’s stock worth $56,103,000 after acquiring an additional 1,810,788 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in DiamondRock Hospitality by 4.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,102,363 shares of the real estate investment trust’s stock worth $26,214,000 after acquiring an additional 120,228 shares in the last quarter. Victory Capital Management Inc. raised its position in shares of DiamondRock Hospitality by 1.7% in the 2nd quarter. Victory Capital Management Inc. now owns 2,618,538 shares of the real estate investment trust’s stock valued at $22,127,000 after purchasing an additional 43,050 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of DiamondRock Hospitality by 1.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,081,031 shares of the real estate investment trust’s stock valued at $17,585,000 after acquiring an additional 25,154 shares in the last quarter. Finally, Millennium Management LLC acquired a new stake in shares of DiamondRock Hospitality during the 2nd quarter valued at approximately $15,118,000.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Wells Fargo & Company dropped their price target on DiamondRock Hospitality from $9.50 to $9.00 and set an “equal weight” rating on the stock in a research report on Friday, September 13th. Compass Point upgraded DiamondRock Hospitality from a “neutral” rating to a “buy” rating and set a $10.00 price objective for the company in a research note on Monday, August 5th. Truist Financial lowered their price objective on DiamondRock Hospitality from $11.00 to $10.00 and set a “hold” rating for the company in a research note on Wednesday, September 4th. Finally, StockNews.com upgraded DiamondRock Hospitality from a “sell” rating to a “hold” rating in a research note on Saturday, August 10th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $9.92.

DiamondRock Hospitality Trading Up 2.4 %

NYSE:DRH opened at $9.12 on Thursday. DiamondRock Hospitality has a 1 year low of $7.33 and a 1 year high of $9.99. The stock has a market cap of $1.91 billion, a price-to-earnings ratio of 25.32, a PEG ratio of 4.27 and a beta of 1.60. The business has a fifty day moving average of $8.60 and a 200-day moving average of $8.58. The company has a debt-to-equity ratio of 0.71, a quick ratio of 2.03 and a current ratio of 2.03.

DiamondRock Hospitality (NYSE:DRH) last released its quarterly earnings results on Thursday, August 1st. The real estate investment trust reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.22). DiamondRock Hospitality had a return on equity of 4.31% and a net margin of 6.43%. The business had revenue of $309.28 million during the quarter, compared to the consensus estimate of $301.77 million. During the same period in the previous year, the company posted $0.32 EPS. The company’s revenue for the quarter was up 6.2% compared to the same quarter last year. Equities analysts predict that DiamondRock Hospitality will post 0.98 earnings per share for the current year.

DiamondRock Hospitality Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Monday, September 30th were paid a dividend of $0.03 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.12 annualized dividend and a yield of 1.32%. DiamondRock Hospitality’s dividend 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.