Victory Capital Management Inc. Grows Holdings in DiamondRock Hospitality Company (NYSE:DRH)

Victory Capital Management Inc. grew its stake in shares of DiamondRock Hospitality Company (NYSE:DRH - Free Report) by 21.4% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,682,395 shares of the real estate investment trust's stock after purchasing an additional 473,698 shares during the period. Victory Capital Management Inc. owned approximately 1.28% of DiamondRock Hospitality worth $20,708,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Nissay Asset Management Corp Japan ADV boosted its position in shares of DiamondRock Hospitality by 4.0% in the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 31,738 shares of the real estate investment trust's stock worth $292,000 after buying an additional 1,216 shares in the last quarter. Xponance Inc. boosted its position in shares of DiamondRock Hospitality by 9.9% in the 4th quarter. Xponance Inc. now owns 15,098 shares of the real estate investment trust's stock worth $136,000 after buying an additional 1,360 shares in the last quarter. Ancora Advisors LLC boosted its position in shares of DiamondRock Hospitality by 0.9% in the 4th quarter. Ancora Advisors LLC now owns 164,150 shares of the real estate investment trust's stock worth $1,482,000 after buying an additional 1,490 shares in the last quarter. Illinois Municipal Retirement Fund boosted its position in shares of DiamondRock Hospitality by 1.8% in the 1st quarter. Illinois Municipal Retirement Fund now owns 107,860 shares of the real estate investment trust's stock worth $833,000 after buying an additional 1,873 shares in the last quarter. Finally, Versant Capital Management Inc boosted its position 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 worth $29,000 after buying an additional 2,256 shares in the last quarter.

Analyst Ratings Changes

DRH has been the topic of several recent research reports. Stifel Nicolaus boosted their price objective on shares of DiamondRock Hospitality from $8.00 to $8.25 and gave the stock a "hold" rating in a research report on Friday, May 2nd. Morgan Stanley cut their target price on shares of DiamondRock Hospitality from $9.00 to $7.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 22nd. Wells Fargo & Company raised shares of DiamondRock Hospitality from a "strong sell" rating to a "hold" rating and boosted their target price for the company from $7.75 to $8.25 in a research note on Tuesday, July 1st. Evercore ISI dropped their price objective on shares of DiamondRock Hospitality from $10.00 to $9.00 and set an "in-line" rating for the company in a research note on Monday, April 28th. Finally, Truist Financial decreased their target price 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. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $8.71.

DiamondRock Hospitality Trading Up 0.7%

DRH traded up $0.06 on Friday, reaching $8.12. 2,508,245 shares of the company's stock were exchanged, compared to its average volume of 2,877,152. The company's 50 day moving average is $7.78 and its 200-day moving average is $7.92. The company has a market cap of $1.67 billion, a price-to-earnings ratio of 45.08, a PEG ratio of 4.63 and a beta of 1.33. DiamondRock Hospitality Company has a twelve month low of $6.18 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.

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 (EPS) for the quarter, topping analysts' consensus estimates of $0.17 by $0.02. The firm had revenue of $254.85 million during the quarter, compared to the consensus estimate of $256.47 million. DiamondRock Hospitality had a net margin of 4.57% and a return on equity of 3.18%. The company's revenue was up .5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.17 EPS. Equities analysts predict that DiamondRock Hospitality Company will post 0.96 earnings per share for the current year.

DiamondRock Hospitality Cuts Dividend

The firm 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. This represents a yield of 4.2%. The ex-dividend date of this dividend was Monday, June 30th. DiamondRock Hospitality's dividend payout ratio (DPR) is presently 177.78%.

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.