American Century Companies Inc. Purchases 10,336 Shares of DiamondRock Hospitality (NYSE:DRH)

American Century Companies Inc. lifted its position in shares of DiamondRock Hospitality (NYSE:DRH) by 11.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 98,176 shares of the real estate investment trust’s stock after buying an additional 10,336 shares during the period. American Century Companies Inc.’s holdings in DiamondRock Hospitality were worth $830,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Centersquare Investment Management LLC increased its stake in DiamondRock Hospitality by 40.3% in 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 buying an additional 1,810,788 shares during the last quarter. Victory Capital Management Inc. raised its holdings in DiamondRock Hospitality by 1.7% during the second quarter. Victory Capital Management Inc. now owns 2,618,538 shares of the real estate investment trust’s stock worth $22,127,000 after acquiring an additional 43,050 shares in the last quarter. Bank of New York Mellon Corp boosted its position in DiamondRock Hospitality by 1.2% during the second quarter. Bank of New York Mellon Corp now owns 2,081,031 shares of the real estate investment trust’s stock valued at $17,585,000 after purchasing an additional 25,154 shares during the last quarter. Norges Bank bought a new position in DiamondRock Hospitality in the fourth quarter valued at approximately $13,301,000. Finally, Russell Investments Group Ltd. increased its position in shares of DiamondRock Hospitality by 19.9% during the 1st quarter. Russell Investments Group Ltd. now owns 562,844 shares of the real estate investment trust’s stock worth $5,409,000 after purchasing an additional 93,381 shares during the last quarter.

DiamondRock Hospitality Stock Performance

Shares of DRH stock opened at $8.76 on Wednesday. DiamondRock Hospitality has a one year low of $7.33 and a one year high of $9.99. The company has a market cap of $1.84 billion, a P/E ratio of 24.32, a P/E/G ratio of 4.43 and a beta of 1.60. The firm has a 50-day moving average of $8.44 and a 200-day moving average of $8.63. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.03 and a quick ratio of 2.03.

DiamondRock Hospitality (NYSE:DRH) last announced its quarterly earnings data on Thursday, August 1st. The real estate investment trust reported $0.10 EPS for the quarter, missing the consensus estimate of $0.32 by ($0.22). The company had revenue of $309.28 million during the quarter, compared to the consensus estimate of $301.77 million. DiamondRock Hospitality had a return on equity of 4.31% and a net margin of 6.43%. The business’s revenue was up 6.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.32 EPS. Equities research analysts forecast that DiamondRock Hospitality will post 0.98 EPS for the current fiscal year.

DiamondRock Hospitality Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Monday, September 30th will be given a dividend of $0.03 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.37%. DiamondRock Hospitality’s dividend payout ratio (DPR) is presently 33.33%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. StockNews.com raised shares of DiamondRock Hospitality from a “sell” rating to a “hold” rating in a research report on Saturday, August 10th. Wells Fargo & Company lowered their price target on DiamondRock Hospitality from $9.50 to $9.00 and set an “equal weight” rating on the stock in a research 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 for the company in a research report on Wednesday, September 4th. Finally, Compass Point upgraded DiamondRock Hospitality from a “neutral” rating to a “buy” rating and set a $10.00 target price for the company in a research note on Monday, August 5th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, DiamondRock Hospitality has a consensus rating of “Hold” and an average target price of $9.92.

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.