AQR Capital Management LLC Has $160,000 Stock Holdings in DiamondRock Hospitality (NYSE:DRH)

AQR Capital Management LLC trimmed its position in shares of DiamondRock Hospitality (NYSE:DRH) by 48.6% during the second quarter, HoldingsChannel.com reports. The firm owned 18,915 shares of the real estate investment trust’s stock after selling 17,917 shares during the period. AQR Capital Management LLC’s holdings in DiamondRock Hospitality were worth $160,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Evergreen Capital Management LLC raised its position in shares of DiamondRock Hospitality by 14.4% during the second quarter. Evergreen Capital Management LLC now owns 14,372 shares of the real estate investment trust’s stock worth $122,000 after acquiring an additional 1,810 shares during the last quarter. Public Sector Pension Investment Board increased its holdings in DiamondRock Hospitality by 7.6% in the second quarter. Public Sector Pension Investment Board now owns 462,211 shares of the real estate investment trust’s stock worth $3,906,000 after purchasing an additional 32,536 shares in the last quarter. Thrivent Financial for Lutherans lifted its stake in DiamondRock Hospitality by 161.7% in the second quarter. Thrivent Financial for Lutherans now owns 475,900 shares of the real estate investment trust’s stock valued at $4,021,000 after buying an additional 294,044 shares during the period. Sei Investments Co. lifted its stake in DiamondRock Hospitality by 9.7% in the second quarter. Sei Investments Co. now owns 335,565 shares of the real estate investment trust’s stock valued at $2,835,000 after buying an additional 29,646 shares during the period. Finally, Intech Investment Management LLC acquired a new position in DiamondRock Hospitality in the second quarter valued at approximately $234,000.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on DRH. StockNews.com raised DiamondRock Hospitality from a “sell” rating to a “hold” rating in a research note on Saturday, August 10th. 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 note on Friday, September 13th. Truist Financial dropped 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, Compass Point raised DiamondRock Hospitality from a “neutral” rating to a “buy” rating and set a $10.00 price target on the stock in a research note on Monday, August 5th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, DiamondRock Hospitality presently has a consensus rating of “Hold” and an average price target of $9.92.

DiamondRock Hospitality Stock Performance

Shares of DRH opened at $9.00 on Friday. The stock’s 50-day simple moving average is $8.64 and its 200 day simple moving average is $8.58. The stock has a market capitalization of $1.89 billion, a price-to-earnings ratio of 25.00, a price-to-earnings-growth ratio of 4.27 and a beta of 1.60. 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 has a 52-week low of $7.33 and a 52-week high of $9.99.

DiamondRock Hospitality (NYSE:DRH) last issued its quarterly earnings data on Thursday, August 1st. The real estate investment trust reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 analysts’ expectations of $301.77 million. During the same period last year, the company posted $0.32 EPS. The business’s revenue for the quarter was up 6.2% on a year-over-year basis. Research analysts forecast that DiamondRock Hospitality will post 0.98 EPS for the current fiscal year.

DiamondRock Hospitality Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Monday, September 30th were issued a dividend of $0.03 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.33%. DiamondRock Hospitality’s dividend payout ratio is 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.