DiamondRock Hospitality (NYSE:DRH) Stock Position Lowered by ProShare Advisors LLC

ProShare Advisors LLC trimmed its position in shares of DiamondRock Hospitality (NYSE:DRH) by 23.6% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 32,381 shares of the real estate investment trust’s stock after selling 10,013 shares during the period. ProShare Advisors LLC’s holdings in DiamondRock Hospitality were worth $274,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Parallel Advisors LLC boosted its position in shares of DiamondRock Hospitality by 313.5% in the fourth quarter. Parallel Advisors LLC now owns 3,196 shares of the real estate investment trust’s stock worth $30,000 after buying an additional 2,423 shares during the period. Headlands Technologies LLC acquired a new stake in DiamondRock Hospitality during the 2nd quarter worth about $42,000. Choreo LLC purchased a new position in DiamondRock Hospitality during the 2nd quarter valued at about $89,000. LDR Capital Management LLC increased its holdings 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. Finally, BOKF NA lifted its position in shares of DiamondRock Hospitality by 83.8% in the first quarter. BOKF NA now owns 15,179 shares of the real estate investment trust’s stock worth $145,000 after purchasing an additional 6,920 shares in the last quarter.

Analyst Upgrades and Downgrades

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

DiamondRock Hospitality Trading Down 0.5 %

DiamondRock Hospitality stock opened at $8.79 on Friday. DiamondRock Hospitality has a one year low of $7.33 and a one year high of $9.99. The company’s fifty day moving average price is $8.47 and its two-hundred day moving average price is $8.63. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.03 and a quick ratio of 2.03. The company has a market capitalization of $1.85 billion, a price-to-earnings ratio of 24.40, a PEG ratio of 4.43 and a beta of 1.60.

DiamondRock Hospitality (NYSE:DRH) last issued its quarterly earnings data on Thursday, August 1st. The real estate investment trust reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.22). The company had revenue of $309.28 million during the quarter, compared to the consensus estimate of $301.77 million. DiamondRock Hospitality had a net margin of 6.43% and a return on equity of 4.31%. The firm’s revenue was up 6.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.32 earnings per share. On average, analysts forecast that DiamondRock Hospitality will post 0.98 earnings per share 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 dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 1.37%. The ex-dividend date is Monday, September 30th. DiamondRock Hospitality’s dividend payout ratio is currently 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.