Bank of New York Mellon Corp Sells 59,135 Shares of DiamondRock Hospitality Company (NYSE:DRH)

Bank of New York Mellon Corp lessened its holdings in DiamondRock Hospitality Company (NYSE:DRH - Free Report) by 3.1% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,865,565 shares of the real estate investment trust's stock after selling 59,135 shares during the period. Bank of New York Mellon Corp owned about 0.89% of DiamondRock Hospitality worth $14,402,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the stock. Versant Capital Management Inc grew its holdings in DiamondRock Hospitality by 156.3% in the 1st quarter. Versant Capital Management Inc now owns 3,699 shares of the real estate investment trust's stock valued at $29,000 after buying an additional 2,256 shares in the last quarter. GF Fund Management CO. LTD. acquired a new position in DiamondRock Hospitality during the 4th quarter worth approximately $34,000. State of Wyoming bought a new stake in shares of DiamondRock Hospitality in the 4th quarter worth about $54,000. FIL Ltd bought a new position in DiamondRock Hospitality in the fourth quarter worth about $60,000. Finally, Caxton Associates LP bought a new stake in DiamondRock Hospitality during the 4th quarter valued at $92,000.

DiamondRock Hospitality Trading Up 0.1%

Shares of DiamondRock Hospitality stock traded up $0.01 during trading hours on Monday, hitting $7.95. The company's stock had a trading volume of 2,542,952 shares, compared to its average volume of 2,375,544. DiamondRock Hospitality Company has a twelve month low of $6.19 and a twelve month high of $10.00. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.62 and a current ratio of 1.62. The firm has a fifty day moving average of $7.76 and a 200-day moving average of $7.93. The stock has a market cap of $1.64 billion, a price-to-earnings ratio of 44.14, a P/E/G ratio of 1.96 and a beta of 1.33.

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

DiamondRock Hospitality Cuts Dividend

The business also recently announced a dividend, which was paid on Friday, July 11th. Investors of record on Tuesday, July 1st were given a dividend of $0.08 per share. 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 presently 177.78%.

Analyst Ratings Changes

DRH has been the topic of a number of recent research reports. Morgan Stanley decreased their price objective on DiamondRock Hospitality from $9.00 to $7.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 22nd. Truist Financial decreased their target price on DiamondRock Hospitality from $10.00 to $9.00 and set a "hold" rating on the stock in a research report on Friday, May 30th. Stifel Nicolaus increased their target price on shares of DiamondRock Hospitality from $8.00 to $8.25 and gave the stock a "hold" rating in a report on Friday, May 2nd. Wells Fargo & Company upgraded shares of DiamondRock Hospitality from a "strong sell" rating to a "hold" rating and increased their price objective for the stock from $7.75 to $8.25 in a research report on Tuesday, July 1st. Finally, Bank of America raised shares of 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. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $8.71.

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.