abrdn plc Has $11.36 Million Position in DiamondRock Hospitality (NYSE:DRH)

abrdn plc lowered its holdings in DiamondRock Hospitality (NYSE:DRH - Free Report) by 20.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,209,958 shares of the real estate investment trust's stock after selling 308,945 shares during the quarter. abrdn plc owned 0.58% of DiamondRock Hospitality worth $11,362,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in DRH. Pzena Investment Management LLC increased its stake in shares of DiamondRock Hospitality by 9.1% in the third quarter. Pzena Investment Management LLC now owns 9,720,155 shares of the real estate investment trust's stock worth $78,053,000 after acquiring an additional 810,972 shares during the period. Bamco Inc. NY purchased a new position in DiamondRock Hospitality during the third quarter valued at $3,866,000. Charles Schwab Investment Management Inc. lifted its stake in shares of DiamondRock Hospitality by 4.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 4,326,316 shares of the real estate investment trust's stock worth $34,740,000 after buying an additional 188,010 shares in the last quarter. Invesco Ltd. lifted its stake in shares of DiamondRock Hospitality by 3.1% in the third quarter. Invesco Ltd. now owns 5,455,648 shares of the real estate investment trust's stock worth $43,809,000 after buying an additional 165,142 shares in the last quarter. Finally, Illinois Municipal Retirement Fund purchased a new position in shares of DiamondRock Hospitality in the third quarter worth about $985,000.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. StockNews.com downgraded shares of DiamondRock Hospitality from a "hold" rating to a "sell" rating in a research note on Saturday, February 3rd. Stifel Nicolaus raised their price objective on shares of DiamondRock Hospitality from $10.00 to $10.50 and gave the stock a "buy" rating in a research report on Friday, February 23rd. Wolfe Research initiated coverage on shares of DiamondRock Hospitality in a research report on Wednesday, January 10th. They set an "outperform" rating and a $11.00 price objective for the company. Finally, Truist Financial raised their price objective on shares of DiamondRock Hospitality from $10.00 to $11.00 and gave the stock a "hold" rating in a research report on Thursday, March 14th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat, DiamondRock Hospitality presently has an average rating of "Hold" and a consensus price target of $10.30.

DiamondRock Hospitality Stock Down 0.3 %

DiamondRock Hospitality stock traded down $0.03 during trading on Friday, reaching $9.06. The stock had a trading volume of 1,335,560 shares, compared to its average volume of 1,735,323. The stock has a market cap of $1.91 billion, a PE ratio of 25.15 and a beta of 1.60. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 0.71. DiamondRock Hospitality has a 52-week low of $7.33 and a 52-week high of $9.99. The business has a 50 day moving average price of $9.36 and a 200 day moving average price of $8.97.

DiamondRock Hospitality (NYSE:DRH - Get Free Report) last released its quarterly earnings data on Friday, February 23rd. The real estate investment trust reported $0.04 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.14). The business had revenue of $263.50 million during the quarter, compared to analysts' expectations of $261.45 million. DiamondRock Hospitality had a return on equity of 5.29% and a net margin of 8.03%. DiamondRock Hospitality's quarterly revenue was up 3.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.23 earnings per share. On average, analysts predict that DiamondRock Hospitality will post 0.96 EPS for the current year.

DiamondRock Hospitality Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Friday, March 29th were issued a $0.03 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $0.12 dividend on an annualized basis and a yield of 1.33%. DiamondRock Hospitality's payout ratio is 33.33%.

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.