Universal Beteiligungs und Servicegesellschaft mbH Acquires Shares of 311,027 DiamondRock Hospitality Company (NYSE:DRH)

Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in DiamondRock Hospitality Company (NYSE:DRH - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 311,027 shares of the real estate investment trust's stock, valued at approximately $2,401,000. Universal Beteiligungs und Servicegesellschaft mbH owned about 0.15% of DiamondRock Hospitality at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Versant Capital Management Inc raised its holdings in shares of DiamondRock Hospitality by 156.3% in the first quarter. Versant Capital Management Inc now owns 3,699 shares of the real estate investment trust's stock worth $29,000 after buying an additional 2,256 shares during the last quarter. GF Fund Management CO. LTD. acquired a new stake in shares of DiamondRock Hospitality in the fourth quarter valued at about $34,000. State of Wyoming acquired a new stake in shares of DiamondRock Hospitality during the 4th quarter worth approximately $54,000. FIL Ltd purchased a new stake in DiamondRock Hospitality during the fourth quarter valued at about $60,000. Finally, Caxton Associates LP bought a new stake in shares of DiamondRock Hospitality in the fourth quarter valued at approximately $92,000.

DiamondRock Hospitality Stock Performance

Shares of NYSE:DRH traded down $0.18 during trading on Wednesday, reaching $7.81. 2,773,962 shares of the stock were exchanged, compared to its average volume of 2,544,979. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 0.69. DiamondRock Hospitality Company has a 12 month low of $6.18 and a 12 month high of $10.00. The firm has a market cap of $1.61 billion, a PE ratio of 43.39, a PEG ratio of 4.59 and a beta of 1.33. The stock has a 50-day moving average price of $7.79 and a 200-day moving average price of $7.90.

DiamondRock Hospitality (NYSE:DRH - Get Free Report) last released its earnings results on Thursday, May 1st. The real estate investment trust reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.02. The company had revenue of $254.85 million during the quarter, compared to analyst estimates of $256.47 million. DiamondRock Hospitality had a return on equity of 3.18% and a net margin of 4.57%. DiamondRock Hospitality's quarterly revenue was up .5% on a year-over-year basis. During the same period in the prior year, the company posted $0.17 earnings per share. Research analysts expect that DiamondRock Hospitality Company will post 0.96 EPS for the current fiscal year.

DiamondRock Hospitality Cuts Dividend

The company also recently announced a dividend, which was paid on Friday, July 11th. Stockholders of record on Tuesday, July 1st were issued a $0.08 dividend. The ex-dividend date of this dividend was Monday, June 30th. This represents a dividend yield of 4.2%. DiamondRock Hospitality's dividend payout ratio (DPR) is 177.78%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on DRH. Bank of America raised DiamondRock Hospitality from an "underperform" rating to a "buy" rating and set a $9.50 price target on the stock in a research report on Wednesday, April 30th. Wells Fargo & Company raised shares of DiamondRock Hospitality from a "strong sell" rating to a "hold" rating and raised their target price for the company from $7.75 to $8.25 in a research note on Tuesday, July 1st. Truist Financial dropped their target price on DiamondRock Hospitality from $10.00 to $9.00 and set a "hold" rating on the stock in a research note on Friday, May 30th. Evercore ISI dropped their price objective on shares of DiamondRock Hospitality from $10.00 to $9.00 and set an "in-line" rating for the company in a research note on Monday, April 28th. Finally, Stifel Nicolaus boosted their price objective on DiamondRock Hospitality from $8.00 to $8.25 and gave the stock a "hold" rating in a research report on Friday, May 2nd. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $8.71.

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.