DiamondRock Hospitality (NYSE:DRH) Position Increased by Quantbot Technologies LP

Quantbot Technologies LP boosted its position in shares of DiamondRock Hospitality (NYSE:DRH) by 20.5% during the 3rd quarter, HoldingsChannel reports. The firm owned 69,554 shares of the real estate investment trust’s stock after buying an additional 11,824 shares during the quarter. Quantbot Technologies LP’s holdings in DiamondRock Hospitality were worth $607,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. Millennium Management LLC purchased a new position in DiamondRock Hospitality during the 2nd quarter valued at about $15,118,000. Pzena Investment Management LLC boosted its holdings in shares of DiamondRock Hospitality by 3.6% during the third quarter. Pzena Investment Management LLC now owns 9,153,018 shares of the real estate investment trust’s stock worth $79,906,000 after purchasing an additional 317,901 shares during the period. Thrivent Financial for Lutherans increased its stake in shares of DiamondRock Hospitality by 161.7% in the second quarter. Thrivent Financial for Lutherans now owns 475,900 shares of the real estate investment trust’s stock worth $4,021,000 after acquiring an additional 294,044 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in DiamondRock Hospitality in the 2nd quarter worth about $1,271,000. Finally, Dimensional Fund Advisors LP increased its holdings in DiamondRock Hospitality by 4.0% in the second quarter. Dimensional Fund Advisors LP now owns 3,102,363 shares of the real estate investment trust’s stock worth $26,214,000 after buying an additional 120,228 shares during the last quarter.

DiamondRock Hospitality Price Performance

Shares of NYSE:DRH opened at $9.34 on Tuesday. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.66. The business has a 50 day moving average price of $8.97 and a 200 day moving average price of $8.58. The company has a market cap of $1.94 billion, a price-to-earnings ratio of 33.36, a PEG ratio of 5.41 and a beta of 1.60. DiamondRock Hospitality has a twelve month low of $7.74 and a twelve month high of $9.99.

DiamondRock Hospitality Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Monday, September 30th were paid a $0.03 dividend. The ex-dividend date was Monday, September 30th. This represents a $0.12 annualized dividend and a dividend yield of 1.28%. DiamondRock Hospitality’s payout ratio is 42.86%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on DRH shares. Compass Point raised shares of DiamondRock Hospitality from a “neutral” rating to a “buy” rating and set a $10.00 price objective for the company in a research note on Monday, August 5th. StockNews.com raised DiamondRock Hospitality from a “sell” rating to a “hold” rating in a research report on Tuesday, November 12th. Wells Fargo & Company lowered their price objective on DiamondRock Hospitality from $9.50 to $9.00 and set an “equal weight” rating on the stock in a report on Friday, September 13th. Truist Financial cut their price objective on DiamondRock Hospitality from $11.00 to $10.00 and set a “hold” rating on the stock in a research note on Wednesday, September 4th. Finally, Stifel Nicolaus cut DiamondRock Hospitality from a “buy” rating to a “hold” rating and decreased their target price for the stock from $10.75 to $10.25 in a research report on Friday, November 22nd. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $10.13.

DiamondRock Hospitality 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.