Bokf Na Reduces Position in DiamondRock Hospitality (NYSE:DRH)

Bokf Na decreased its holdings in DiamondRock Hospitality (NYSE:DRH) by 39.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 36,823 shares of the real estate investment trust’s stock after selling 24,083 shares during the period. Bokf Na’s holdings in DiamondRock Hospitality were worth $322,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of DRH. Barclays PLC grew its holdings in shares of DiamondRock Hospitality by 37.6% in the third quarter. Barclays PLC now owns 368,616 shares of the real estate investment trust’s stock valued at $3,219,000 after purchasing an additional 100,805 shares during the period. KBC Group NV grew its stake in shares of DiamondRock Hospitality by 55.9% in the 4th quarter. KBC Group NV now owns 10,436 shares of the real estate investment trust’s stock valued at $94,000 after buying an additional 3,744 shares during the period. Vert Asset Management LLC increased its holdings in shares of DiamondRock Hospitality by 2.1% during the 4th quarter. Vert Asset Management LLC now owns 82,570 shares of the real estate investment trust’s stock worth $746,000 after buying an additional 1,729 shares during the last quarter. abrdn plc raised its position in shares of DiamondRock Hospitality by 53.5% during the 4th quarter. abrdn plc now owns 69,071 shares of the real estate investment trust’s stock valued at $633,000 after buying an additional 24,070 shares during the period. Finally, Choreo LLC lifted its holdings in DiamondRock Hospitality by 55.1% in the fourth quarter. Choreo LLC now owns 15,553 shares of the real estate investment trust’s stock valued at $142,000 after acquiring an additional 5,523 shares during the last quarter.

Analysts Set New Price Targets

DRH has been the topic of several recent analyst reports. Wells Fargo & Company decreased their price target on DiamondRock Hospitality from $10.50 to $9.50 and set an “equal weight” rating on the stock in a research note on Tuesday, February 18th. Evercore ISI lowered their target price on shares of DiamondRock Hospitality from $10.00 to $9.00 and set an “in-line” rating for the company in a research note on Monday, April 28th. Bank of America raised shares of DiamondRock Hospitality from an “underperform” rating to a “buy” rating and set a $9.50 price target on the stock in a research note on Wednesday, April 30th. Stifel Nicolaus increased their price objective on shares of DiamondRock Hospitality from $8.00 to $8.25 and gave the stock a “hold” rating in a research report on Friday, May 2nd. Finally, Morgan Stanley cut their target price on DiamondRock Hospitality from $9.00 to $7.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 22nd. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $9.04.

DiamondRock Hospitality Stock Up 1.1 %

Shares of NYSE DRH opened at $7.58 on Friday. The stock has a market cap of $1.58 billion, a P/E ratio of 27.07, a PEG ratio of 2.06 and a beta of 1.33. The business’s fifty day simple moving average is $7.48 and its 200-day simple moving average is $8.45. DiamondRock Hospitality has a 12-month low of $6.19 and a 12-month high of $10.00. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.66.

DiamondRock Hospitality (NYSE:DRH) last posted its quarterly earnings results on Thursday, May 1st. The real estate investment trust reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.02. DiamondRock Hospitality had a return on equity of 4.25% and a net margin of 6.30%. The company had revenue of $254.85 million for the quarter, compared to analyst estimates of $256.47 million. During the same quarter last year, the company earned $0.17 EPS. DiamondRock Hospitality’s revenue for the quarter was up .5% compared to the same quarter last year. As a group, equities analysts predict that DiamondRock Hospitality will post 0.96 EPS for the current fiscal year.

DiamondRock Hospitality Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Friday, March 28th were given a dividend of $0.08 per share. This is a boost from DiamondRock Hospitality’s previous quarterly dividend of $0.03. This represents a $0.32 annualized dividend and a dividend yield of 4.22%. The ex-dividend date was Friday, March 28th. DiamondRock Hospitality’s payout ratio is 177.78%.

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.