27,653 Shares in DiamondRock Hospitality (NYSE:DRH) Acquired by Intech Investment Management LLC

Intech Investment Management LLC acquired a new position in shares of DiamondRock Hospitality (NYSE:DRH) in the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 27,653 shares of the real estate investment trust’s stock, valued at approximately $234,000.

A number of other hedge funds have also recently made changes to their positions in DRH. Parallel Advisors LLC boosted its position in shares of DiamondRock Hospitality by 313.5% during the 4th quarter. Parallel Advisors LLC now owns 3,196 shares of the real estate investment trust’s stock worth $30,000 after purchasing an additional 2,423 shares during the period. Headlands Technologies LLC purchased a new position in DiamondRock Hospitality in the 2nd quarter valued at approximately $42,000. Choreo LLC purchased a new position in DiamondRock Hospitality in the 2nd quarter valued at approximately $89,000. LDR Capital Management LLC boosted its position in DiamondRock Hospitality by 25.5% in the 1st quarter. LDR Capital Management LLC now owns 13,244 shares of the real estate investment trust’s stock valued at $127,000 after buying an additional 2,692 shares during the period. Finally, BOKF NA boosted its position in DiamondRock Hospitality by 83.8% in the 1st quarter. BOKF NA now owns 15,179 shares of the real estate investment trust’s stock valued at $145,000 after buying an additional 6,920 shares during the period.

DiamondRock Hospitality Price Performance

Shares of NYSE:DRH opened at $8.95 on Friday. The company’s fifty day moving average price is $8.43 and its 200 day moving average price is $8.65. DiamondRock Hospitality has a 12 month low of $7.33 and a 12 month high of $9.99. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.03 and a quick ratio of 2.03. The firm has a market capitalization of $1.88 billion, a P/E ratio of 24.86, a P/E/G ratio of 4.43 and a beta of 1.60.

DiamondRock Hospitality (NYSE:DRH) last announced its quarterly earnings results on Thursday, August 1st. The real estate investment trust reported $0.10 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 company had revenue of $309.28 million for the quarter, compared to analyst estimates of $301.77 million. During the same quarter in the prior year, the business earned $0.32 earnings per share. DiamondRock Hospitality’s revenue was up 6.2% compared to the same quarter last year. As a group, sell-side analysts predict that DiamondRock Hospitality will post 0.98 earnings per share for the current fiscal year.

DiamondRock Hospitality Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Monday, September 30th will be paid a $0.03 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $0.12 dividend on an annualized basis and a yield of 1.34%. DiamondRock Hospitality’s dividend payout ratio is presently 33.33%.

Wall Street Analysts Forecast Growth

DRH has been the subject of several recent research reports. Compass Point raised shares of DiamondRock Hospitality from a “neutral” rating to a “buy” rating and set a $10.00 price target for the company in a research report on Monday, August 5th. Truist Financial decreased their price target on shares of DiamondRock Hospitality from $11.00 to $10.00 and set a “hold” rating for the company in a research report on Wednesday, September 4th. StockNews.com raised shares of DiamondRock Hospitality from a “sell” rating to a “hold” rating in a research report on Saturday, August 10th. 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 report on Friday, September 13th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, DiamondRock Hospitality currently has a consensus rating of “Hold” and an average target price of $9.92.

About DiamondRock Hospitality

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.