Mutual of America Capital Management LLC Lowers Stake in DiamondRock Hospitality (NYSE:DRH)

Mutual of America Capital Management LLC decreased its position in DiamondRock Hospitality (NYSE:DRH) by 9.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 31,173 shares of the real estate investment trust’s stock after selling 3,354 shares during the quarter. Mutual of America Capital Management LLC’s holdings in DiamondRock Hospitality were worth $272,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Evergreen Capital Management LLC lifted its position in shares of DiamondRock Hospitality by 14.4% during the 2nd quarter. Evergreen Capital Management LLC now owns 14,372 shares of the real estate investment trust’s stock worth $122,000 after purchasing an additional 1,810 shares during the last quarter. Louisiana State Employees Retirement System grew its holdings in shares of DiamondRock Hospitality by 1.8% during the second quarter. Louisiana State Employees Retirement System now owns 105,700 shares of the real estate investment trust’s stock worth $893,000 after purchasing an additional 1,900 shares during the last quarter. Van ECK Associates Corp increased its position in shares of DiamondRock Hospitality by 6.7% during the second quarter. Van ECK Associates Corp now owns 32,191 shares of the real estate investment trust’s stock worth $272,000 after purchasing an additional 2,028 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of DiamondRock Hospitality by 35.1% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,153 shares of the real estate investment trust’s stock valued at $73,000 after purchasing an additional 2,116 shares during the period. Finally, Quarry LP grew its position in shares of DiamondRock Hospitality by 2,093.9% during the second 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 last quarter.

DiamondRock Hospitality Stock Performance

Shares of NYSE DRH opened at $9.20 on Friday. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.73 and a quick ratio of 1.73. The company has a market cap of $1.91 billion, a PE ratio of 32.86, a price-to-earnings-growth ratio of 5.45 and a beta of 1.60. The company has a 50-day simple moving average of $8.96 and a 200-day simple moving average of $8.57. DiamondRock Hospitality has a 12 month low of $7.74 and a 12 month high of $9.99.

DiamondRock Hospitality Announces Dividend

The firm also recently announced 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 yield of 1.30%. DiamondRock Hospitality’s dividend payout ratio (DPR) is presently 42.86%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on DRH. Stifel Nicolaus cut shares of DiamondRock Hospitality from a “buy” rating to a “hold” rating and decreased their price target for the stock from $10.75 to $10.25 in a research note on Friday, November 22nd. Compass Point raised 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 dropped their target price on DiamondRock Hospitality from $11.00 to $10.00 and set a “hold” rating on the stock in a report on Wednesday, September 4th. StockNews.com raised DiamondRock Hospitality from a “sell” rating to a “hold” rating in a report on Tuesday, November 12th. Finally, Evercore ISI lowered shares of DiamondRock Hospitality from an “outperform” rating to an “inline” rating and set a $10.50 target price on the stock. in a research report on Friday, November 15th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $10.13.

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.