State of New Jersey Common Pension Fund D Has $2.01 Million Holdings in DiamondRock Hospitality (NYSE:DRH)

State of New Jersey Common Pension Fund D grew its position in DiamondRock Hospitality (NYSE:DRH) by 3.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 229,847 shares of the real estate investment trust’s stock after buying an additional 8,173 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in DiamondRock Hospitality were worth $2,007,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the company. Quarry LP boosted its stake in DiamondRock Hospitality by 2,093.9% in the 2nd 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 purchased a new stake in shares of DiamondRock Hospitality in the second quarter valued at $42,000. Mirae Asset Global Investments Co. Ltd. boosted 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 buying an additional 2,116 shares during the period. Harbor Capital Advisors Inc. purchased a new position in shares of DiamondRock Hospitality during the third quarter valued at $74,000. Finally, Choreo LLC acquired a new position in DiamondRock Hospitality during the second quarter valued at $89,000.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Compass Point upgraded DiamondRock Hospitality from a “neutral” rating to a “buy” rating and set a $10.00 price objective for the company in a research report on Monday, August 5th. Truist Financial decreased their price target on shares of DiamondRock Hospitality from $11.00 to $10.00 and set a “hold” rating for the company in a report on Wednesday, September 4th. Evercore ISI lowered shares of DiamondRock Hospitality from an “outperform” rating to an “inline” rating and set a $10.50 price objective on the stock. in a research note on Friday. Wells Fargo & Company decreased their target price on shares of DiamondRock Hospitality from $9.50 to $9.00 and set an “equal weight” rating for the company in a research note on Friday, September 13th. Finally, StockNews.com raised shares of DiamondRock Hospitality from a “sell” rating to a “hold” rating in a research note on Tuesday, November 12th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $10.17.

DiamondRock Hospitality Trading Down 2.0 %

DiamondRock Hospitality stock opened at $8.86 on Friday. DiamondRock Hospitality has a one year low of $7.74 and a one year high of $9.99. The company’s fifty day moving average price is $8.85 and its two-hundred day moving average price is $8.54. The company has a market capitalization of $1.84 billion, a price-to-earnings ratio of 31.64, a PEG ratio of 5.38 and a beta of 1.60. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.73 and a quick ratio of 2.03.

DiamondRock Hospitality Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Monday, September 30th were paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.35%. The ex-dividend date of this dividend was Monday, September 30th. DiamondRock Hospitality’s payout ratio is 42.86%.

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.