abrdn plc Purchases 4,131 Shares of DiamondRock Hospitality (NYSE:DRH)

abrdn plc grew its stake in shares of DiamondRock Hospitality (NYSE:DRH) by 10.1% in the third quarter, Holdings Channel reports. The fund owned 45,001 shares of the real estate investment trust’s stock after acquiring an additional 4,131 shares during the quarter. abrdn plc’s holdings in DiamondRock Hospitality were worth $393,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of DRH. Centersquare Investment Management LLC grew its position in shares of DiamondRock Hospitality by 40.3% during 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 shares of DiamondRock Hospitality during the 2nd quarter valued at approximately $15,118,000. Thrivent Financial for Lutherans grew its position in shares of DiamondRock Hospitality by 161.7% during 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 shares of DiamondRock Hospitality during the 2nd quarter valued at approximately $1,271,000. Finally, Dimensional Fund Advisors LP grew its position in shares of DiamondRock Hospitality by 4.0% during 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 Performance

NYSE DRH opened at $8.70 on Tuesday. DiamondRock Hospitality has a 1 year low of $7.74 and a 1 year 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 stock has a market capitalization of $1.80 billion, a PE ratio of 30.00, a P/E/G ratio of 5.03 and a beta of 1.60. The company’s 50 day simple moving average is $8.75 and its two-hundred day simple moving average is $8.53.

DiamondRock Hospitality Announces Dividend

The company also recently announced 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 annualized dividend and a yield of 1.38%. The ex-dividend date of this dividend was Monday, September 30th. DiamondRock Hospitality’s dividend payout ratio is presently 41.38%.

Analyst Ratings Changes

A number of research analysts have 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 report on Wednesday, September 4th. Compass Point upgraded shares of 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. StockNews.com cut shares of DiamondRock Hospitality from a “hold” rating to a “sell” rating in a research note on Monday. Finally, Wells Fargo & Company dropped 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 research note on Friday, September 13th. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus 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.