Systematic Financial Management LP Trims Holdings in DiamondRock Hospitality Company $DRH

Systematic Financial Management LP decreased its position in shares of DiamondRock Hospitality Company (NYSE:DRH) by 2.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,741,168 shares of the real estate investment trust’s stock after selling 51,230 shares during the period. Systematic Financial Management LP’s holdings in DiamondRock Hospitality were worth $16,315,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the company. First Horizon Corp boosted its position in shares of DiamondRock Hospitality by 54.9% in the fourth quarter. First Horizon Corp now owns 3,214 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 1,139 shares during the period. ProShare Advisors LLC raised its position in shares of DiamondRock Hospitality by 3.1% during the 4th quarter. ProShare Advisors LLC now owns 40,041 shares of the real estate investment trust’s stock valued at $359,000 after purchasing an additional 1,203 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its position in shares of DiamondRock Hospitality by 32.5% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,990 shares of the real estate investment trust’s stock valued at $54,000 after purchasing an additional 1,470 shares during the period. EverSource Wealth Advisors LLC raised its position in shares of DiamondRock Hospitality by 77.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 3,436 shares of the real estate investment trust’s stock valued at $31,000 after purchasing an additional 1,498 shares during the period. Finally, Gallacher Capital Management LLC lifted its stake in shares of DiamondRock Hospitality by 5.8% during the 1st quarter. Gallacher Capital Management LLC now owns 27,509 shares of the real estate investment trust’s stock valued at $258,000 after buying an additional 1,504 shares in the last quarter.

DiamondRock Hospitality Trading Up 1.4%

DiamondRock Hospitality stock opened at $12.85 on Friday. The stock has a market cap of $2.63 billion, a P/E ratio of 51.40, a PEG ratio of 4.50 and a beta of 0.98. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.64 and a quick ratio of 1.64. DiamondRock Hospitality Company has a 1 year low of $7.45 and a 1 year high of $13.05. The firm’s 50 day moving average price is $11.81 and its 200-day moving average price is $10.48.

DiamondRock Hospitality Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 14th. Investors of record on Tuesday, June 30th were paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend was Tuesday, June 30th. DiamondRock Hospitality’s dividend payout ratio (DPR) is presently 76.60%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on DRH shares. Barclays upped their target price on shares of DiamondRock Hospitality from $10.00 to $12.00 and gave the stock an “equal weight” rating in a report on Monday, June 1st. Stifel Nicolaus set a $12.25 price target on DiamondRock Hospitality in a report on Thursday, June 4th. Wells Fargo & Company boosted their price objective on DiamondRock Hospitality from $12.00 to $13.00 and gave the company an “equal weight” rating in a research report on Thursday. Morgan Stanley boosted their price objective on DiamondRock Hospitality from $9.60 to $10.00 and gave the company an “equal weight” rating in a research report on Friday, July 17th. Finally, Citigroup upped their price objective on DiamondRock Hospitality from $11.00 to $13.00 and gave the stock a “neutral” rating in a research note on Wednesday. Four investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat.com, DiamondRock Hospitality presently has an average rating of “Hold” and an average price target of $12.12.

Insider Buying and Selling at DiamondRock Hospitality

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

DiamondRock Hospitality Company Profile

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.