Deutsche Bank AG Has $17.52 Million Stock Position in DiamondRock Hospitality Company (NYSE:DRH)

Key Points

• Deutsche Bank AG significantly increased its stake in DiamondRock Hospitality Company (DRH) by 723.6%, acquiring over 1.99 million shares, which now amounts to approximately 1.09% of the company.
• Several hedge funds, including LPL Financial and Federated Hermes, also boosted their positions in DRH during the last quarter, reflecting growing institutional interest.
• Despite mixed analysts' ratings with a consensus rating of "Hold", the stock has a current average target price of $8.50, with recent upgrades from some brokerages indicating potential for growth.

Deutsche Bank AG increased its position in shares of DiamondRock Hospitality Company (NYSE:DRH - Free Report) by 723.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,268,828 shares of the real estate investment trust's stock after acquiring an additional 1,993,345 shares during the quarter. Deutsche Bank AG owned 1.09% of DiamondRock Hospitality worth $17,515,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in DRH. LPL Financial LLC raised its holdings in shares of DiamondRock Hospitality by 10.6% during the fourth quarter. LPL Financial LLC now owns 63,205 shares of the real estate investment trust's stock valued at $571,000 after acquiring an additional 6,071 shares during the period. Federated Hermes Inc. raised its holdings in shares of DiamondRock Hospitality by 1,187.2% during the fourth quarter. Federated Hermes Inc. now owns 18,432 shares of the real estate investment trust's stock valued at $166,000 after acquiring an additional 17,000 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of DiamondRock Hospitality during the fourth quarter valued at approximately $1,816,000. Sterling Capital Management LLC raised its holdings in shares of DiamondRock Hospitality by 10.5% during the fourth quarter. Sterling Capital Management LLC now owns 60,875 shares of the real estate investment trust's stock valued at $550,000 after acquiring an additional 5,789 shares during the period. Finally, Barclays PLC raised its holdings in shares of DiamondRock Hospitality by 1.2% during the fourth quarter. Barclays PLC now owns 372,864 shares of the real estate investment trust's stock valued at $3,366,000 after acquiring an additional 4,248 shares during the period.

Wall Street Analysts Forecast Growth

DRH has been the topic of several research reports. Truist Financial dropped their price objective on shares of DiamondRock Hospitality from $10.00 to $9.00 and set a "hold" rating on the stock in a research note on Friday, May 30th. Wells Fargo & Company upgraded shares of DiamondRock Hospitality from a "strong sell" rating to a "hold" rating and upped their price objective for the company from $7.75 to $8.25 in a research note on Tuesday, July 1st. Stifel Nicolaus upped their price objective on shares of DiamondRock Hospitality from $8.00 to $8.25 and gave the company a "hold" rating in a research note on Friday, May 2nd. Evercore ISI dropped their price objective on shares of DiamondRock Hospitality from $10.00 to $9.00 and set an "in-line" rating on the stock in a research note on Monday, April 28th. Finally, Morgan Stanley dropped their price objective on shares of DiamondRock Hospitality from $9.00 to $7.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 22nd. Six equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $8.50.

DiamondRock Hospitality Price Performance

Shares of DiamondRock Hospitality stock traded down $0.08 during mid-day trading on Friday, reaching $7.89. 2,778,005 shares of the stock were exchanged, compared to its average volume of 3,164,220. The company has a market cap of $1.62 billion, a price-to-earnings ratio of 30.35, a price-to-earnings-growth ratio of 4.47 and a beta of 1.41. The company has a current ratio of 1.30, a quick ratio of 1.62 and a debt-to-equity ratio of 0.64. The firm has a 50-day simple moving average of $7.84 and a 200 day simple moving average of $7.80. DiamondRock Hospitality Company has a fifty-two week low of $6.18 and a fifty-two week high of $10.00.

DiamondRock Hospitality (NYSE:DRH - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The real estate investment trust reported $0.35 EPS for the quarter, topping analysts' consensus estimates of $0.33 by $0.02. DiamondRock Hospitality had a net margin of 6.04% and a return on equity of 4.23%. The firm had revenue of $305.70 million for the quarter, compared to analyst estimates of $303.70 million. During the same quarter in the prior year, the firm earned $0.34 EPS. The company's revenue was down 1.2% on a year-over-year basis. On average, sell-side analysts predict that DiamondRock Hospitality Company will post 0.96 EPS for the current fiscal year.

DiamondRock Hospitality Cuts Dividend

The firm also recently announced a dividend, which was paid on Friday, July 11th. Stockholders of record on Tuesday, July 1st were paid a $0.08 dividend. This represents a dividend yield of 420.0%. The ex-dividend date of this dividend was Monday, June 30th. DiamondRock Hospitality's dividend payout ratio (DPR) is 123.08%.

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.