Allspring Global Investments Holdings LLC Boosts Position in DiamondRock Hospitality Company (NYSE:DRH)

Allspring Global Investments Holdings LLC boosted its holdings in shares of DiamondRock Hospitality Company (NYSE:DRH - Free Report) by 54.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 91,486 shares of the real estate investment trust's stock after buying an additional 32,298 shares during the quarter. Allspring Global Investments Holdings LLC's holdings in DiamondRock Hospitality were worth $705,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. Versant Capital Management Inc lifted 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 in the last quarter. GF Fund Management CO. LTD. purchased a new stake in DiamondRock Hospitality during the fourth quarter valued at $34,000. State of Wyoming purchased a new stake in DiamondRock Hospitality during the fourth quarter valued at $54,000. FIL Ltd purchased a new stake in DiamondRock Hospitality during the fourth quarter valued at $60,000. Finally, Caxton Associates LP purchased a new stake in DiamondRock Hospitality during the fourth quarter valued at $92,000.

Analysts Set New Price Targets

A number of research analysts have weighed in on DRH shares. Stifel Nicolaus boosted their price objective on shares of DiamondRock Hospitality from $8.00 to $8.25 and gave the company a "hold" rating in a research report on Friday, May 2nd. Truist Financial cut their price target on shares of DiamondRock Hospitality from $10.00 to $9.00 and set a "hold" rating on the stock in a report on Friday, May 30th. Morgan Stanley cut their price target on shares of DiamondRock Hospitality from $9.00 to $7.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 22nd. Wells Fargo & Company upgraded shares of DiamondRock Hospitality from a "strong sell" rating to a "hold" rating and upped their price target for the stock from $7.75 to $8.25 in a report on Tuesday, July 1st. Finally, Evercore ISI cut their price target on shares of DiamondRock Hospitality from $10.00 to $9.00 and set an "in-line" rating on the stock in a report on Monday, April 28th. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $8.71.

DiamondRock Hospitality Stock Down 0.2%

Shares of NYSE:DRH traded down $0.02 during trading on Friday, reaching $8.14. The stock had a trading volume of 2,605,078 shares, compared to its average volume of 2,373,119. DiamondRock Hospitality Company has a one year low of $6.19 and a one year high of $10.00. The company has a market capitalization of $1.68 billion, a P/E ratio of 45.22, a PEG ratio of 2.04 and a beta of 1.33. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 0.69. The firm's 50-day simple moving average is $7.71 and its 200 day simple moving average is $7.99.

DiamondRock Hospitality (NYSE:DRH - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The real estate investment trust reported $0.19 EPS for the quarter, beating the consensus estimate of $0.17 by $0.02. The firm had revenue of $254.85 million during 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%. DiamondRock Hospitality's revenue was up .5% on a year-over-year basis. During the same period last year, the firm posted $0.17 EPS. As a group, research analysts expect that DiamondRock Hospitality Company will post 0.96 EPS for the current fiscal year.

DiamondRock Hospitality Cuts Dividend

The business also recently announced a dividend, which was paid on Friday, July 11th. Shareholders of record on Tuesday, July 1st were given a dividend of $0.08 per share. This represents a yield of 4.2%. The ex-dividend date of this dividend was Monday, June 30th. DiamondRock Hospitality's dividend payout ratio is presently 177.78%.

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.