Allspring Global Investments Holdings LLC Sells 8,559 Shares of DiamondRock Hospitality (NYSE:DRH)

Allspring Global Investments Holdings LLC trimmed its position in DiamondRock Hospitality (NYSE:DRH) by 12.7% during the third quarter, Holdings Channel reports. The firm owned 58,973 shares of the real estate investment trust’s stock after selling 8,559 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in DiamondRock Hospitality were worth $515,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Centersquare Investment Management LLC raised its holdings in DiamondRock Hospitality by 40.3% in the 1st quarter. Centersquare Investment Management LLC now owns 6,303,698 shares of the real estate investment trust’s stock valued at $56,103,000 after acquiring an additional 1,810,788 shares during the period. Millennium Management LLC bought a new position in DiamondRock Hospitality in the 2nd quarter valued at about $15,118,000. Thrivent Financial for Lutherans raised its holdings in DiamondRock Hospitality by 161.7% in the 2nd quarter. Thrivent Financial for Lutherans now owns 475,900 shares of the real estate investment trust’s stock valued at $4,021,000 after acquiring an additional 294,044 shares during the period. Healthcare of Ontario Pension Plan Trust Fund bought a new position in DiamondRock Hospitality in the 2nd quarter valued at about $1,271,000. Finally, Dimensional Fund Advisors LP raised its holdings in DiamondRock Hospitality by 4.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,102,363 shares of the real estate investment trust’s stock valued at $26,214,000 after acquiring an additional 120,228 shares during the period.

DiamondRock Hospitality Stock Up 0.4 %

Shares of DRH opened at $8.60 on Friday. DiamondRock Hospitality has a 12 month low of $7.74 and a 12 month high of $9.99. The firm’s 50 day moving average is $8.75 and its 200-day moving average is $8.54. The stock has a market capitalization of $1.78 billion, a PE ratio of 29.66, a P/E/G ratio of 5.21 and a beta of 1.60. 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 posted 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). The firm had revenue of $309.28 million for the quarter, compared to analyst estimates of $301.77 million. DiamondRock Hospitality had a return on equity of 4.31% and a net margin of 6.43%. The business’s revenue was up 6.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.32 EPS. Equities research analysts forecast that DiamondRock Hospitality will post 0.98 EPS for the current year.

DiamondRock Hospitality Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Monday, September 30th were given 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 dividend yield of 1.40%. DiamondRock Hospitality’s dividend payout ratio is 41.38%.

Analyst Ratings Changes

DRH has been the topic of several research analyst reports. Wells Fargo & Company lowered their price target on shares of DiamondRock Hospitality from $9.50 to $9.00 and set an “equal weight” rating on the stock in a report on Friday, September 13th. Compass Point raised shares of DiamondRock Hospitality from a “neutral” rating to a “buy” rating and set a $10.00 price target on the stock in a report on Monday, August 5th. StockNews.com raised shares of DiamondRock Hospitality from a “sell” rating to a “hold” rating in a report on Saturday, August 10th. Finally, Truist Financial lowered their price target on shares of DiamondRock Hospitality from $11.00 to $10.00 and set a “hold” rating on the stock in a report on Wednesday, September 4th. 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, the company presently has an average rating of “Hold” and a consensus price target 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.