DiamondRock Hospitality (NYSE:DRH) Shares Sold by Vanguard Group Inc.

Vanguard Group Inc. decreased its holdings in DiamondRock Hospitality (NYSE:DRH) by 0.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 36,458,023 shares of the real estate investment trust’s stock after selling 349,139 shares during the quarter. Vanguard Group Inc. owned 17.39% of DiamondRock Hospitality worth $292,758,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of DRH. National Bank of Canada FI acquired a new position in DiamondRock Hospitality in the 3rd quarter worth about $30,000. Tower Research Capital LLC TRC raised its holdings in DiamondRock Hospitality by 711.7% in the 1st quarter. Tower Research Capital LLC TRC now owns 7,119 shares of the real estate investment trust’s stock worth $58,000 after purchasing an additional 6,242 shares during the period. Advisor Partners II LLC acquired a new position in DiamondRock Hospitality in the 1st quarter worth about $83,000. Evergreen Capital Management LLC acquired a new position in DiamondRock Hospitality in the 3rd quarter worth about $90,000. Finally, LPL Financial LLC raised its holdings in DiamondRock Hospitality by 10.2% in the 2nd quarter. LPL Financial LLC now owns 13,698 shares of the real estate investment trust’s stock worth $110,000 after purchasing an additional 1,266 shares during the period.

Analyst Upgrades and Downgrades

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

DiamondRock Hospitality Price Performance

DRH stock opened at $9.62 on Thursday. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.00 and a quick ratio of 2.00. The business has a 50 day simple moving average of $9.35 and a 200-day simple moving average of $8.78. The firm has a market capitalization of $2.02 billion, a PE ratio of 26.72 and a beta of 1.60. DiamondRock Hospitality has a 1 year low of $7.33 and a 1 year high of $9.99.

DiamondRock Hospitality (NYSE:DRH) last posted its quarterly earnings results on Friday, February 23rd. The real estate investment trust reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.14). The company had revenue of $263.50 million during the quarter, compared to analysts’ expectations of $261.45 million. DiamondRock Hospitality had a net margin of 8.03% and a return on equity of 5.29%. DiamondRock Hospitality’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter last year, the company earned $0.23 earnings per share. Equities research analysts anticipate that DiamondRock Hospitality will post 0.96 earnings per share for the current fiscal year.

DiamondRock Hospitality Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 12th. Investors of record on Friday, March 29th will be given a $0.03 dividend. The ex-dividend date is Wednesday, March 27th. This represents a $0.12 annualized dividend and a yield of 1.25%. DiamondRock Hospitality’s payout ratio is 33.33%.

DiamondRock Hospitality Profile

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.