Harbor Capital Advisors Inc. Takes Position in DiamondRock Hospitality (NYSE:DRH)

Harbor Capital Advisors Inc. bought a new position in DiamondRock Hospitality (NYSE:DRH) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 8,504 shares of the real estate investment trust’s stock, valued at approximately $74,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Quarry LP boosted its position in DiamondRock Hospitality by 2,093.9% during the 2nd quarter. Quarry LP now owns 3,949 shares of the real estate investment trust’s stock worth $33,000 after acquiring an additional 3,769 shares during the period. Headlands Technologies LLC acquired a new position in shares of DiamondRock Hospitality in the 2nd quarter valued at about $42,000. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of DiamondRock Hospitality by 35.1% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,153 shares of the real estate investment trust’s stock worth $73,000 after purchasing an additional 2,116 shares in the last quarter. Choreo LLC acquired a new stake in shares of DiamondRock Hospitality during the second quarter worth approximately $89,000. Finally, SG Americas Securities LLC purchased a new position in DiamondRock Hospitality during the third quarter valued at approximately $100,000.

DiamondRock Hospitality Stock Up 0.1 %

DiamondRock Hospitality stock opened at $9.26 on Friday. The company has a market capitalization of $1.92 billion, a P/E ratio of 33.05, a P/E/G ratio of 5.10 and a beta of 1.60. DiamondRock Hospitality has a 1-year low of $7.74 and a 1-year high of $9.99. The firm’s fifty day simple moving average is $8.79 and its 200-day simple moving average is $8.54. 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 Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Monday, September 30th were given a $0.03 dividend. 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 1.30%. DiamondRock Hospitality’s dividend payout ratio is currently 42.86%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. StockNews.com downgraded shares of DiamondRock Hospitality from a “hold” rating to a “sell” rating in a research report on Monday, November 4th. Truist Financial cut their price objective on DiamondRock Hospitality from $11.00 to $10.00 and set a “hold” rating for the company in a report on Wednesday, September 4th. Wells Fargo & Company reduced their price objective on 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. Finally, Compass Point raised DiamondRock Hospitality from a “neutral” rating to a “buy” rating and set a $10.00 target price on the stock in a research report on Monday, August 5th. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $10.10.

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.