State of New Jersey Common Pension Fund D decreased its position in DiamondRock Hospitality (NYSE:DRH - Free Report) by 26.3% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 355,201 shares of the real estate investment trust's stock after selling 127,000 shares during the period. State of New Jersey Common Pension Fund D owned 0.17% of DiamondRock Hospitality worth $3,335,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of DRH. National Bank of Canada FI bought a new position in DiamondRock Hospitality in the third quarter worth approximately $30,000. Evergreen Capital Management LLC bought a new position in DiamondRock Hospitality in the third quarter worth approximately $90,000. Jump Financial LLC raised its stake in DiamondRock Hospitality by 80.8% in the third quarter. Jump Financial LLC now owns 20,500 shares of the real estate investment trust's stock worth $165,000 after buying an additional 9,164 shares in the last quarter. Inspire Advisors LLC bought a new position in DiamondRock Hospitality in the third quarter worth approximately $170,000. Finally, QRG Capital Management Inc. bought a new position in DiamondRock Hospitality in the third quarter worth approximately $196,000.
DiamondRock Hospitality Stock Performance
Shares of NYSE DRH traded down $0.03 during mid-day trading on Friday, hitting $9.05. The stock had a trading volume of 1,335,560 shares, compared to its average volume of 1,970,885. The company has a debt-to-equity ratio of 0.71, a quick ratio of 2.00 and a current ratio of 2.00. The company has a 50 day moving average of $9.36 and a two-hundred day moving average of $8.98. DiamondRock Hospitality has a twelve month low of $7.33 and a twelve month high of $9.99. The firm has a market cap of $1.91 billion, a PE ratio of 25.14 and a beta of 1.60.
DiamondRock Hospitality (NYSE:DRH - Get Free Report) last released its earnings results on Friday, February 23rd. The real estate investment trust reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.14). DiamondRock Hospitality had a net margin of 8.03% and a return on equity of 5.29%. The firm had revenue of $263.50 million during the quarter, compared to analyst estimates of $261.45 million. During the same period in the previous year, the company earned $0.23 earnings per share. DiamondRock Hospitality's revenue was up 3.3% on a year-over-year basis. Research analysts predict that DiamondRock Hospitality will post 0.96 EPS for the current fiscal year.
DiamondRock Hospitality Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Friday, March 29th were given a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 1.33%. The ex-dividend date was Wednesday, March 27th. DiamondRock Hospitality's payout ratio is 33.33%.
Analysts Set New Price Targets
A number of brokerages have recently issued reports on DRH. Stifel Nicolaus upped their price target on DiamondRock Hospitality from $10.00 to $10.50 and gave the stock a "buy" rating in a research report on Friday, February 23rd. Truist Financial upped their price target on DiamondRock Hospitality from $10.00 to $11.00 and gave the stock a "hold" rating in a research report on Thursday, March 14th. Wolfe Research began coverage on DiamondRock Hospitality in a research report on Wednesday, January 10th. They set an "outperform" rating and a $11.00 price target on the stock. Finally, StockNews.com downgraded DiamondRock Hospitality from a "hold" rating to a "sell" rating in a research report on Saturday, February 3rd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $10.30.
Check Out Our Latest Stock Analysis on DRH
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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