Healthcare of Ontario Pension Plan Trust Fund Makes New $1.27 Million Investment in DiamondRock Hospitality (NYSE:DRH)

Healthcare of Ontario Pension Plan Trust Fund acquired a new position in DiamondRock Hospitality (NYSE:DRH) during the second quarter, Holdings Channel reports. The institutional investor acquired 150,400 shares of the real estate investment trust’s stock, valued at approximately $1,271,000.

A number of other institutional investors have also made changes to their positions in DRH. Quarry LP increased its stake in shares of 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 worth $33,000 after purchasing an additional 3,769 shares during the period. Headlands Technologies LLC bought a new position in shares of DiamondRock Hospitality in the second quarter worth about $42,000. Choreo LLC bought a new position in shares of DiamondRock Hospitality in the second quarter worth about $89,000. Evergreen Capital Management LLC increased its stake in shares of DiamondRock Hospitality by 14.4% in the second quarter. Evergreen Capital Management LLC now owns 14,372 shares of the real estate investment trust’s stock worth $122,000 after purchasing an additional 1,810 shares during the period. Finally, LDR Capital Management LLC increased its stake in shares of DiamondRock Hospitality by 25.5% in the first quarter. LDR Capital Management LLC now owns 13,244 shares of the real estate investment trust’s stock worth $127,000 after purchasing an additional 2,692 shares during the period.

Wall Street Analysts Forecast Growth

DRH has been the topic of a number of recent analyst reports. Compass Point upgraded DiamondRock Hospitality from a “neutral” rating to a “buy” rating and set a $10.00 price objective on the stock in a research note on Monday, August 5th. StockNews.com upgraded DiamondRock Hospitality from a “sell” rating to a “hold” rating in a research note on Saturday, August 10th. Truist Financial lowered their price target on DiamondRock Hospitality from $11.00 to $10.00 and set a “hold” rating on the stock in a research note on Wednesday, September 4th. Finally, Wells Fargo & Company lowered their price target on DiamondRock Hospitality from $9.50 to $9.00 and set an “equal weight” rating on the stock in a research note on Friday, September 13th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, DiamondRock Hospitality presently has a consensus rating of “Hold” and a consensus price target of $9.92.

DiamondRock Hospitality Trading Down 2.8 %

DRH stock opened at $8.86 on Tuesday. DiamondRock Hospitality has a 1-year low of $7.33 and a 1-year high of $9.99. The firm has a market cap of $1.86 billion, a P/E ratio of 24.60, a P/E/G ratio of 4.43 and a beta of 1.60. The business’s 50 day moving average is $8.49 and its 200-day moving average is $8.61. The company has a current ratio of 2.03, a quick ratio of 2.03 and a debt-to-equity ratio of 0.71.

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

DiamondRock Hospitality Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Stockholders 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 annualized dividend and a dividend yield of 1.36%. DiamondRock Hospitality’s dividend payout ratio is currently 33.33%.

DiamondRock Hospitality 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.