Inspire Investing LLC Grows Position in DiamondRock Hospitality (NYSE:DRH)

Inspire Investing LLC increased its position in DiamondRock Hospitality (NYSE:DRH) by 10.9% in the second quarter, HoldingsChannel reports. The firm owned 50,971 shares of the real estate investment trust’s stock after purchasing an additional 5,019 shares during the quarter. Inspire Investing LLC’s holdings in DiamondRock Hospitality were worth $431,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Parallel Advisors LLC lifted its stake in shares of DiamondRock Hospitality by 313.5% in the 4th quarter. Parallel Advisors LLC now owns 3,196 shares of the real estate investment trust’s stock valued at $30,000 after purchasing an additional 2,423 shares during the period. Quadrant Capital Group LLC lifted its stake in shares of DiamondRock Hospitality by 195.7% in the 4th quarter. Quadrant Capital Group LLC now owns 3,330 shares of the real estate investment trust’s stock valued at $31,000 after purchasing an additional 2,204 shares during the period. Headlands Technologies LLC purchased a new position in shares of DiamondRock Hospitality in the 2nd quarter valued at approximately $42,000. Choreo LLC purchased a new position in shares of DiamondRock Hospitality in the 2nd quarter valued at approximately $89,000. Finally, LDR Capital Management LLC lifted its stake in shares of DiamondRock Hospitality by 25.5% in the 1st quarter. LDR Capital Management LLC now owns 13,244 shares of the real estate investment trust’s stock valued at $127,000 after purchasing an additional 2,692 shares during the period.

DiamondRock Hospitality Stock Down 0.5 %

DiamondRock Hospitality stock opened at $9.05 on Friday. The firm has a market cap of $1.90 billion, a price-to-earnings ratio of 25.14, a PEG ratio of 4.07 and a beta of 1.60. The stock has a fifty day simple moving average of $8.39 and a two-hundred day simple moving average of $8.67. DiamondRock Hospitality has a 12 month low of $7.33 and a 12 month high of $9.99. The company has a current ratio of 2.03, a quick ratio of 2.03 and a debt-to-equity ratio of 0.71.

DiamondRock Hospitality (NYSE:DRH) last posted its earnings results on Thursday, August 1st. The real estate investment trust reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.22). The business had revenue of $309.28 million during the quarter, compared to the consensus estimate of $301.77 million. DiamondRock Hospitality had a return on equity of 4.31% and a net margin of 6.43%. The firm’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.32 EPS. Equities analysts predict that DiamondRock Hospitality will post 0.98 EPS for the current fiscal year.

DiamondRock Hospitality Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Monday, September 30th will be issued a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 1.33%. The ex-dividend date is Monday, September 30th. DiamondRock Hospitality’s payout ratio is currently 33.33%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on DRH shares. Compass Point upgraded DiamondRock Hospitality from a “neutral” rating to a “buy” rating and set a $10.00 price objective for the company in a research note on Monday, August 5th. StockNews.com upgraded DiamondRock Hospitality from a “sell” rating to a “hold” rating in a research note on Saturday, August 10th. Wells Fargo & Company lowered their price objective on DiamondRock Hospitality from $9.50 to $9.00 and set an “equal weight” rating for the company in a research note on Friday, September 13th. Finally, Truist Financial lowered their price objective on DiamondRock Hospitality from $11.00 to $10.00 and set a “hold” rating for the company in a research note on Wednesday, September 4th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, DiamondRock Hospitality currently has an average rating of “Hold” and a consensus target price of $9.92.

DiamondRock Hospitality Company 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.