Mirae Asset Global Investments Co. Ltd. Buys 2,116 Shares of DiamondRock Hospitality (NYSE:DRH)

Mirae Asset Global Investments Co. Ltd. grew its stake in DiamondRock Hospitality (NYSE:DRH) by 35.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,153 shares of the real estate investment trust’s stock after acquiring an additional 2,116 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in DiamondRock Hospitality were worth $73,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. SG Americas Securities LLC bought a new stake in shares of DiamondRock Hospitality in the third quarter worth about $100,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of DiamondRock Hospitality in the 2nd quarter valued at approximately $1,271,000. Dana Investment Advisors Inc. increased its stake in DiamondRock Hospitality by 8.7% during the 2nd quarter. Dana Investment Advisors Inc. now owns 822,407 shares of the real estate investment trust’s stock worth $6,949,000 after purchasing an additional 65,861 shares in the last quarter. Truist Financial Corp raised its holdings in DiamondRock Hospitality by 14.1% during the 2nd quarter. Truist Financial Corp now owns 55,605 shares of the real estate investment trust’s stock worth $470,000 after buying an additional 6,886 shares during the period. Finally, Quarry LP lifted its stake in DiamondRock Hospitality by 2,093.9% in the second quarter. Quarry LP now owns 3,949 shares of the real estate investment trust’s stock valued at $33,000 after buying an additional 3,769 shares in the last quarter.

DiamondRock Hospitality Stock Up 1.2 %

NYSE:DRH opened at $8.70 on Tuesday. DiamondRock Hospitality has a twelve month low of $7.74 and a twelve month high of $9.99. The firm has a market capitalization of $1.80 billion, a price-to-earnings ratio of 30.00, a price-to-earnings-growth ratio of 5.03 and a beta of 1.60. The company has a quick ratio of 2.03, a current ratio of 2.03 and a debt-to-equity ratio of 0.71. The stock’s 50 day moving average price is $8.75 and its two-hundred day moving average price is $8.53.

DiamondRock Hospitality Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Monday, September 30th were paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 1.38%. The ex-dividend date of this dividend was Monday, September 30th. DiamondRock Hospitality’s dividend payout ratio is currently 41.38%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on DRH shares. Truist Financial reduced their target price on shares of DiamondRock Hospitality from $11.00 to $10.00 and set a “hold” rating for the company in a research note on Wednesday, September 4th. Compass Point raised DiamondRock Hospitality from a “neutral” rating to a “buy” rating and set a $10.00 price objective for the company in a research report on Monday, August 5th. StockNews.com lowered DiamondRock Hospitality from a “hold” rating to a “sell” rating in a research report on Monday. Finally, Wells Fargo & Company decreased their price target on shares of DiamondRock Hospitality from $9.50 to $9.00 and set an “equal weight” rating for the company in a research note on Friday, September 13th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, DiamondRock Hospitality presently has a consensus rating of “Hold” and an average target price of $9.92.

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.