Arizona State Retirement System Sells 1,132 Shares of DiamondRock Hospitality (NYSE:DRH)

Arizona State Retirement System decreased its position in shares of DiamondRock Hospitality (NYSE:DRH) by 1.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 58,601 shares of the real estate investment trust’s stock after selling 1,132 shares during the quarter. Arizona State Retirement System’s holdings in DiamondRock Hospitality were worth $550,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. PNC Financial Services Group Inc. lifted its position in DiamondRock Hospitality by 9.4% during the first quarter. PNC Financial Services Group Inc. now owns 13,193 shares of the real estate investment trust’s stock worth $133,000 after purchasing an additional 1,130 shares during the period. LPL Financial LLC raised its stake in DiamondRock Hospitality by 10.2% during the second quarter. LPL Financial LLC now owns 13,698 shares of the real estate investment trust’s stock worth $110,000 after acquiring an additional 1,266 shares in the last quarter. Mackenzie Financial Corp raised its stake in DiamondRock Hospitality by 10.8% during the first quarter. Mackenzie Financial Corp now owns 13,036 shares of the real estate investment trust’s stock worth $132,000 after acquiring an additional 1,272 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in DiamondRock Hospitality by 1.2% during the second quarter. Price T Rowe Associates Inc. MD now owns 127,027 shares of the real estate investment trust’s stock worth $1,043,000 after acquiring an additional 1,485 shares in the last quarter. Finally, Swiss National Bank raised its stake in DiamondRock Hospitality by 0.4% during the third quarter. Swiss National Bank now owns 461,100 shares of the real estate investment trust’s stock worth $3,703,000 after acquiring an additional 1,800 shares in the last quarter.

Wall Street Analyst Weigh In

Several brokerages have commented on DRH. Wolfe Research began coverage on DiamondRock Hospitality in a research note on Wednesday, January 10th. They set an “outperform” rating and a $11.00 target price for the company. StockNews.com downgraded DiamondRock Hospitality from a “hold” rating to a “sell” rating in a research note on Saturday, February 3rd. Wells Fargo & Company upped their price objective on DiamondRock Hospitality from $9.00 to $10.00 and gave the company an “equal weight” rating in a research note on Friday, December 22nd. Stifel Nicolaus upped their price objective on DiamondRock Hospitality from $10.00 to $10.50 and gave the company a “buy” rating in a research note on Friday, February 23rd. Finally, Truist Financial upped their price objective on DiamondRock Hospitality from $10.00 to $11.00 and gave the company a “hold” rating in a research note on Thursday, March 14th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $10.30.

DiamondRock Hospitality Stock Performance

NYSE:DRH opened at $8.84 on Friday. The company has a market capitalization of $1.86 billion, a PE ratio of 24.54 and a beta of 1.60. The company has a 50 day simple moving average of $9.37 and a two-hundred day simple moving average of $8.93. The company has a debt-to-equity ratio of 0.71, a quick ratio of 2.00 and a current ratio of 2.00. DiamondRock Hospitality has a fifty-two week low of $7.33 and a fifty-two week high of $9.99.

DiamondRock Hospitality (NYSE:DRH) last released its earnings results on Friday, February 23rd. The real estate investment trust reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.14). The firm had revenue of $263.50 million for the quarter, compared to analyst estimates of $261.45 million. DiamondRock Hospitality had a net margin of 8.03% and a return on equity of 5.29%. The business’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.23 EPS. Research analysts anticipate that DiamondRock Hospitality will post 0.96 earnings per share for the current 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 given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 1.36%. The ex-dividend date was Wednesday, March 27th. DiamondRock Hospitality’s dividend payout ratio is presently 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.