Lightrock Netherlands B.V. Acquires 70,421 Shares of DiamondRock Hospitality Company (NYSE:DRH)

Lightrock Netherlands B.V. grew its stake in shares of DiamondRock Hospitality Company (NYSE:DRH - Free Report) by 13.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 589,109 shares of the real estate investment trust's stock after purchasing an additional 70,421 shares during the period. Lightrock Netherlands B.V. owned approximately 0.28% of DiamondRock Hospitality worth $4,556,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Nissay Asset Management Corp Japan ADV lifted its position in DiamondRock Hospitality by 4.0% during the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 31,738 shares of the real estate investment trust's stock valued at $292,000 after acquiring an additional 1,216 shares during the period. Xponance Inc. lifted its position in DiamondRock Hospitality by 9.9% during the 4th quarter. Xponance Inc. now owns 15,098 shares of the real estate investment trust's stock valued at $136,000 after acquiring an additional 1,360 shares during the period. Ancora Advisors LLC lifted its position in DiamondRock Hospitality by 0.9% during the 4th quarter. Ancora Advisors LLC now owns 164,150 shares of the real estate investment trust's stock valued at $1,482,000 after acquiring an additional 1,490 shares during the period. Illinois Municipal Retirement Fund lifted its position in DiamondRock Hospitality by 1.8% during the 1st quarter. Illinois Municipal Retirement Fund now owns 107,860 shares of the real estate investment trust's stock valued at $833,000 after acquiring an additional 1,873 shares during the period. Finally, Versant Capital Management Inc lifted its position in DiamondRock Hospitality by 156.3% during 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 acquiring an additional 2,256 shares during the period.

DiamondRock Hospitality Stock Up 0.3%

DiamondRock Hospitality stock traded up $0.02 during trading hours on Friday, hitting $8.00. The stock had a trading volume of 1,461,474 shares, compared to its average volume of 2,364,380. The company has a quick ratio of 1.62, a current ratio of 1.62 and a debt-to-equity ratio of 0.69. The stock's 50-day moving average price is $7.64 and its 200-day moving average price is $8.03. DiamondRock Hospitality Company has a 12-month low of $6.19 and a 12-month high of $10.00. The stock has a market capitalization of $1.65 billion, a P/E ratio of 44.44, a price-to-earnings-growth ratio of 2.00 and a beta of 1.33.

DiamondRock Hospitality (NYSE:DRH - Get Free Report) last released its quarterly earnings data 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. DiamondRock Hospitality had a net margin of 4.57% and a return on equity of 3.18%. The firm had revenue of $254.85 million during the quarter, compared to analysts' expectations of $256.47 million. During the same period in the previous year, the company earned $0.17 earnings per share. The firm's quarterly revenue was up .5% on a year-over-year basis. Equities research analysts anticipate that DiamondRock Hospitality Company will post 0.96 EPS for the current fiscal year.

DiamondRock Hospitality Cuts Dividend

The business also recently disclosed a dividend, which will be paid on Friday, July 11th. Stockholders of record on Tuesday, July 1st will be issued a dividend of $0.08 per share. The ex-dividend date is Monday, June 30th. This represents a dividend yield of 4.2%. DiamondRock Hospitality's payout ratio is 177.78%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on DRH shares. Morgan Stanley lowered their price target on shares of DiamondRock Hospitality from $9.00 to $7.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 22nd. Bank of America raised shares of DiamondRock Hospitality from an "underperform" rating to a "buy" rating and set a $9.50 price target for the company 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 lifted their price target for the company from $7.75 to $8.25 in a research report on Tuesday. Truist Financial decreased their target price on shares of DiamondRock Hospitality from $10.00 to $9.00 and set a "hold" rating for the company in a report on Friday, May 30th. Finally, Stifel Nicolaus lifted 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. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $8.71.

DiamondRock Hospitality Company 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.