Diversified Trust Co Increases Position in DiamondRock Hospitality (NYSE:DRH)

Diversified Trust Co increased its holdings in DiamondRock Hospitality (NYSE:DRH) by 5.4% in the 1st quarter, HoldingsChannel.com reports. The fund owned 58,147 shares of the real estate investment trust’s stock after buying an additional 2,984 shares during the period. Diversified Trust Co’s holdings in DiamondRock Hospitality were worth $559,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Norges Bank purchased a new position in DiamondRock Hospitality in the fourth quarter worth $13,301,000. Centersquare Investment Management LLC raised its stake in shares of DiamondRock Hospitality by 17.0% during the 4th quarter. Centersquare Investment Management LLC now owns 4,492,910 shares of the real estate investment trust’s stock worth $42,188,000 after purchasing an additional 652,095 shares during the period. Paralel Advisors LLC purchased a new position in shares of DiamondRock Hospitality in the 4th quarter worth about $2,352,000. Russell Investments Group Ltd. grew its position in DiamondRock Hospitality by 88.8% during the fourth quarter. Russell Investments Group Ltd. now owns 469,463 shares of the real estate investment trust’s stock valued at $4,408,000 after buying an additional 220,847 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in DiamondRock Hospitality by 4.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,516,452 shares of the real estate investment trust’s stock worth $42,409,000 after buying an additional 190,136 shares during the last quarter.

Analyst Ratings Changes

DRH has been the topic of several research analyst reports. 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. StockNews.com raised DiamondRock Hospitality from a “sell” rating to a “hold” rating in a research report on Friday, May 3rd. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $10.30.

DiamondRock Hospitality Stock Performance

Shares of NYSE DRH opened at $8.24 on Thursday. The stock has a market cap of $1.73 billion, a price-to-earnings ratio of 22.89, a P/E/G ratio of 6.22 and a beta of 1.60. The stock’s 50-day moving average is $8.47 and its 200 day moving average is $9.04. The company has a current ratio of 2.04, a quick ratio of 2.04 and a debt-to-equity ratio of 0.71. DiamondRock Hospitality has a 1-year low of $7.33 and a 1-year high of $9.99.

DiamondRock Hospitality Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 12th. Investors of record on Friday, June 28th will be issued a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 1.46%. The ex-dividend date is Friday, June 28th. DiamondRock Hospitality’s dividend payout ratio is currently 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.