DiamondRock Hospitality (NYSE:DRH) Shares Sold by MQS Management LLC

MQS Management LLC reduced its holdings in DiamondRock Hospitality (NYSE:DRH) by 51.5% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 27,594 shares of the real estate investment trust’s stock after selling 29,266 shares during the quarter. MQS Management LLC’s holdings in DiamondRock Hospitality were worth $241,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the business. Millennium Management LLC acquired a new position in DiamondRock Hospitality during the second quarter worth $15,118,000. Thrivent Financial for Lutherans raised its holdings 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 shares of DiamondRock Hospitality in the second quarter worth $1,271,000. Dimensional Fund Advisors LP raised its holdings in shares of 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 acquiring an additional 120,228 shares during the last quarter. Finally, Wolverine Asset Management LLC raised its holdings in shares of DiamondRock Hospitality by 147.0% in the second quarter. Wolverine Asset Management LLC now owns 165,030 shares of the real estate investment trust’s stock worth $1,395,000 after acquiring an additional 98,209 shares during the last quarter.

DiamondRock Hospitality Price Performance

Shares of NYSE DRH opened at $8.85 on Friday. DiamondRock Hospitality has a 1-year low of $7.74 and a 1-year high of $9.99. The business has a 50-day moving average of $8.84 and a 200-day moving average of $8.55. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.73 and a quick ratio of 2.03. 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.

DiamondRock Hospitality Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Monday, September 30th were given a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 1.36%. The ex-dividend date of this dividend was Monday, September 30th. DiamondRock Hospitality’s payout ratio is 42.86%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on DRH. Truist Financial dropped their target price on DiamondRock Hospitality from $11.00 to $10.00 and set a “hold” rating for the company in a research note on Wednesday, September 4th. Compass Point raised DiamondRock Hospitality from a “neutral” rating to a “buy” rating and set a $10.00 price target for the company in a research report on Monday, August 5th. StockNews.com raised DiamondRock Hospitality from a “sell” rating to a “hold” rating in a research report on Tuesday. Wells Fargo & Company lowered their price target 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, Evercore ISI downgraded DiamondRock Hospitality from an “outperform” rating to an “inline” rating and set a $10.50 price target for the company. in a research report on Friday. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $10.17.

About DiamondRock Hospitality

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.