Lightrock Netherlands B.V. grew its holdings in DiamondRock Hospitality Company (NYSE:DRH - Free Report) by 13.6% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 589,109 shares of the real estate investment trust's stock after purchasing an additional 70,421 shares during the quarter. Lightrock Netherlands B.V. owned approximately 0.28% of DiamondRock Hospitality worth $4,556,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. Versant Capital Management Inc raised its holdings in shares of 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 purchasing an additional 2,256 shares in the last quarter. GF Fund Management CO. LTD. bought a new stake in shares of DiamondRock Hospitality in the 4th quarter valued at about $34,000. State of Wyoming bought a new stake in shares of DiamondRock Hospitality in the 4th quarter valued at about $54,000. FIL Ltd bought a new stake in shares of DiamondRock Hospitality in the 4th quarter valued at about $60,000. Finally, Smartleaf Asset Management LLC raised its holdings in shares of DiamondRock Hospitality by 278.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 9,769 shares of the real estate investment trust's stock valued at $89,000 after purchasing an additional 7,189 shares in the last quarter.
DiamondRock Hospitality Trading Up 1.3%
DRH stock traded up $0.10 during trading on Tuesday, reaching $7.94. 2,598,931 shares of the stock were exchanged, compared to its average volume of 2,367,291. 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 business has a 50 day moving average price of $7.65 and a 200-day moving average price of $8.01. DiamondRock Hospitality Company has a 1 year low of $6.19 and a 1 year high of $10.00. The firm has a market capitalization of $1.64 billion, a price-to-earnings ratio of 44.11, a P/E/G ratio of 1.96 and a beta of 1.33.
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 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.02. DiamondRock Hospitality had a return on equity of 3.18% and a net margin of 4.57%. The business had revenue of $254.85 million for the quarter, compared to analysts' expectations of $256.47 million. During the same period last year, the firm earned $0.17 earnings per share. The company's revenue for the quarter was up .5% compared to the same quarter last year. On average, research analysts predict that DiamondRock Hospitality Company will post 0.96 earnings per share for the current year.
DiamondRock Hospitality Cuts Dividend
The company also recently declared a dividend, which will be paid on Friday, July 11th. Shareholders of record on Tuesday, July 1st will be issued a dividend of $0.08 per share. This represents a yield of 4.2%. The ex-dividend date of this dividend is Monday, June 30th. DiamondRock Hospitality's dividend payout ratio (DPR) is presently 177.78%.
Analysts Set New Price Targets
Several research analysts recently commented on the stock. Bank of America upgraded shares of DiamondRock Hospitality from an "underperform" rating to a "buy" rating and set a $9.50 price objective for the company in a research note on Wednesday, April 30th. Morgan Stanley cut 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. Stifel Nicolaus increased their price objective on shares of DiamondRock Hospitality from $8.00 to $8.25 and gave the stock a "hold" rating in a research note on Friday, May 2nd. Truist Financial dropped their price target on shares of DiamondRock Hospitality from $10.00 to $9.00 and set a "hold" rating on the stock in a research report on Friday, May 30th. Finally, Evercore ISI dropped 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 research report on Monday, April 28th. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $8.71.
Check Out Our Latest Stock Report on DiamondRock Hospitality
DiamondRock Hospitality Profile
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Free Report)
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.
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