DiamondRock Hospitality (NYSE:DRH) Shares Acquired by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D increased its stake in shares of DiamondRock Hospitality (NYSE:DRH) by 3.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 229,847 shares of the real estate investment trust’s stock after buying an additional 8,173 shares during the quarter. State of New Jersey Common Pension Fund D owned about 0.11% of DiamondRock Hospitality worth $2,007,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in DRH. Quarry LP grew its position in shares of DiamondRock Hospitality by 2,093.9% during the second quarter. Quarry LP now owns 3,949 shares of the real estate investment trust’s stock worth $33,000 after acquiring an additional 3,769 shares during the last quarter. Headlands Technologies LLC bought a new position in DiamondRock Hospitality in the 2nd quarter worth about $42,000. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of DiamondRock Hospitality by 35.1% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,153 shares of the real estate investment trust’s stock valued at $73,000 after purchasing an additional 2,116 shares during the period. Harbor Capital Advisors Inc. bought a new stake in shares of DiamondRock Hospitality during the third quarter valued at approximately $74,000. Finally, Choreo LLC acquired a new position in shares of DiamondRock Hospitality during the second quarter worth approximately $89,000.

DiamondRock Hospitality Stock Performance

Shares of DRH opened at $8.86 on Friday. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.73 and a quick ratio of 2.03. The firm’s 50 day moving average is $8.85 and its 200-day moving average is $8.54. DiamondRock Hospitality has a 12-month low of $7.74 and a 12-month high of $9.99. The stock has a market capitalization of $1.84 billion, a P/E ratio of 31.64, a P/E/G ratio of 5.38 and a beta of 1.60.

DiamondRock Hospitality Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Monday, September 30th were issued a $0.03 dividend. The ex-dividend date was Monday, September 30th. This represents a $0.12 annualized dividend and a dividend yield of 1.35%. DiamondRock Hospitality’s dividend payout ratio is currently 42.86%.

Analyst Ratings Changes

Several analysts recently commented on the company. Evercore ISI cut DiamondRock Hospitality from an “outperform” rating to an “inline” rating and set a $10.50 target price on the stock. in a research report on Friday. Compass Point upgraded shares of DiamondRock Hospitality from a “neutral” rating to a “buy” rating and set a $10.00 price objective on the stock in a research note on Monday, August 5th. StockNews.com upgraded shares of DiamondRock Hospitality from a “sell” rating to a “hold” rating in a research report on Tuesday, November 12th. Truist Financial dropped their price target on shares of DiamondRock Hospitality from $11.00 to $10.00 and set a “hold” rating on the stock in a research report on Wednesday, September 4th. Finally, Wells Fargo & Company decreased their price objective on shares of DiamondRock Hospitality from $9.50 to $9.00 and set an “equal weight” rating for the company in a report on Friday, September 13th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $10.17.

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.