DiamondRock Hospitality Company $DRH Stake Increased by State of Wyoming

State of Wyoming lifted its holdings in DiamondRock Hospitality Company (NYSE:DRH) by 256.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 87,839 shares of the real estate investment trust’s stock after buying an additional 63,181 shares during the period. State of Wyoming’s holdings in DiamondRock Hospitality were worth $823,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of DRH. AQR Capital Management LLC lifted its stake in DiamondRock Hospitality by 223.2% in the 1st quarter. AQR Capital Management LLC now owns 65,376 shares of the real estate investment trust’s stock worth $505,000 after acquiring an additional 45,146 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in DiamondRock Hospitality by 5.1% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 123,672 shares of the real estate investment trust’s stock valued at $955,000 after acquiring an additional 5,971 shares in the last quarter. United Services Automobile Association purchased a new position in DiamondRock Hospitality during the 1st quarter valued at about $91,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in DiamondRock Hospitality by 3.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,327,841 shares of the real estate investment trust’s stock valued at $10,251,000 after acquiring an additional 48,558 shares in the last quarter. Finally, Creative Planning acquired a new position in shares of DiamondRock Hospitality in the 2nd quarter valued at about $99,000.

Wall Street Analyst Weigh In

DRH has been the subject of a number of research analyst reports. LADENBURG THALM/SH SH increased their price target on shares of DiamondRock Hospitality from $13.00 to $14.00 and gave the stock a “buy” rating in a research report on Thursday, June 18th. Barclays boosted their price objective on shares of DiamondRock Hospitality from $10.00 to $12.00 and gave the company an “equal weight” rating in a research report on Monday, June 1st. Morgan Stanley increased their target price on shares of DiamondRock Hospitality from $9.60 to $10.00 and gave the stock an “equal weight” rating in a research report on Friday, July 17th. Bank of America increased their target price on shares of DiamondRock Hospitality from $12.50 to $13.00 and gave the stock a “buy” rating in a research report on Monday. Finally, Citigroup lifted their target price on shares of DiamondRock Hospitality from $11.00 to $13.00 and gave the company a “neutral” rating in a research note on Wednesday. Four investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat, DiamondRock Hospitality currently has a consensus rating of “Hold” and an average target price of $12.12.

Insider Buying and Selling

In other DiamondRock Hospitality news, Director Michael A. Hartmeier sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $10.46, for a total value of $209,200.00. Following the completion of the sale, the director directly owned 95,354 shares of the company’s stock, valued at $997,402.84. The trade was a 17.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Kathleen Merrill sold 20,000 shares of the stock in a transaction on Friday, June 12th. The stock was sold at an average price of $11.88, for a total transaction of $237,600.00. Following the transaction, the director owned 84,335 shares in the company, valued at approximately $1,001,899.80. This trade represents a 19.17% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.90% of the company’s stock.

DiamondRock Hospitality Stock Down 1.8%

DRH opened at $12.67 on Friday. DiamondRock Hospitality Company has a fifty-two week low of $7.45 and a fifty-two week high of $13.05. The business has a 50-day moving average of $11.76 and a 200-day moving average of $10.46. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.64 and a quick ratio of 1.64. The company has a market capitalization of $2.59 billion, a PE ratio of 50.68, a price-to-earnings-growth ratio of 4.50 and a beta of 0.98.

DiamondRock Hospitality Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 14th. Investors of record on Tuesday, June 30th were issued a $0.09 dividend. The ex-dividend date was Tuesday, June 30th. This represents a $0.36 dividend on an annualized basis and a yield of 2.8%. DiamondRock Hospitality’s dividend payout ratio is currently 76.60%.

About DiamondRock Hospitality

DiamondRock Hospitality Company is a real estate investment trust (REIT) that acquires, owns and manages a diversified portfolio of upscale, full-service hotels in urban gateway markets across the United States. Established in 2004 and headquartered in Bethesda, Maryland, the company focuses on investing in high-quality lodging properties that cater to both business and leisure travelers. Its assets are positioned in key metropolitan areas, enabling DiamondRock to benefit from strong demand drivers such as corporate travel, group conventions and resort leisure stays.

The company’s portfolio includes full-service hotels offering a broad range of amenities, including guest rooms, on-site food and beverage outlets, meeting and event space, fitness centers and spa services.