Russell Investments Group Ltd. grew its stake in shares of DiamondRock Hospitality (NYSE:DRH - Free Report) by 88.8% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 469,463 shares of the real estate investment trust's stock after acquiring an additional 220,847 shares during the period. Russell Investments Group Ltd. owned 0.22% of DiamondRock Hospitality worth $4,408,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of DRH. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of DiamondRock Hospitality by 8.5% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 93,969 shares of the real estate investment trust's stock worth $755,000 after purchasing an additional 7,356 shares during the period. Advisor Partners II LLC increased its stake in DiamondRock Hospitality by 133.6% in the third quarter. Advisor Partners II LLC now owns 25,990 shares of the real estate investment trust's stock valued at $209,000 after acquiring an additional 14,864 shares during the period. Daiwa Securities Group Inc. grew its stake in DiamondRock Hospitality by 4.0% during the third quarter. Daiwa Securities Group Inc. now owns 66,929 shares of the real estate investment trust's stock worth $537,000 after buying an additional 2,547 shares during the last quarter. Nisa Investment Advisors LLC grew its stake in DiamondRock Hospitality by 4.7% during the third quarter. Nisa Investment Advisors LLC now owns 88,908 shares of the real estate investment trust's stock worth $714,000 after buying an additional 4,007 shares during the last quarter. Finally, Duality Advisers LP grew its stake in DiamondRock Hospitality by 6.4% during the third quarter. Duality Advisers LP now owns 109,998 shares of the real estate investment trust's stock worth $883,000 after buying an additional 6,587 shares during the last quarter.
DiamondRock Hospitality Trading Down 0.1 %
NYSE DRH traded down $0.01 during trading hours on Friday, hitting $8.51. The company's stock had a trading volume of 1,906,200 shares, compared to its average volume of 2,702,723. The stock has a fifty day moving average of $9.25 and a 200 day moving average of $9.03. DiamondRock Hospitality has a twelve month low of $7.33 and a twelve month high of $9.99. The firm has a market capitalization of $1.79 billion, a P/E ratio of 23.64, a PEG ratio of 6.33 and a beta of 1.61. The company has a quick ratio of 2.00, a current ratio of 2.04 and a debt-to-equity ratio of 0.71.
DiamondRock Hospitality (NYSE:DRH - Get Free Report) last posted its earnings results on Friday, February 23rd. The real estate investment trust reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.14). The firm had revenue of $263.50 million during the quarter, compared to analyst estimates of $261.45 million. DiamondRock Hospitality had a return on equity of 5.20% and a net margin of 7.86%. The company's revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter last year, the business posted $0.23 earnings per share. Equities research analysts forecast that DiamondRock Hospitality will post 0.96 earnings per share for the current fiscal year.
DiamondRock Hospitality Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Friday, March 29th were issued a $0.03 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $0.12 annualized dividend and a yield of 1.41%. DiamondRock Hospitality's dividend payout ratio (DPR) is presently 33.33%.
Analyst Ratings Changes
A number of brokerages have recently issued reports on DRH. Stifel Nicolaus upped their target price 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. Truist Financial upped their target price 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. Finally, StockNews.com upgraded shares of DiamondRock Hospitality from a "sell" rating to a "hold" rating in a research report on Friday, May 3rd. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, DiamondRock Hospitality presently has a consensus rating of "Hold" and an average price target of $10.30.
Check Out Our Latest Analysis on DiamondRock Hospitality
About DiamondRock Hospitality
(
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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