Algert Global LLC Acquires New Holdings in DiamondRock Hospitality (NYSE:DRH)

Algert Global LLC acquired a new stake in shares of DiamondRock Hospitality (NYSE:DRH) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 21,106 shares of the real estate investment trust’s stock, valued at approximately $178,000.

A number of other hedge funds and other institutional investors have also modified their holdings of DRH. Headlands Technologies LLC bought a new stake in shares of DiamondRock Hospitality during the second quarter valued at about $42,000. Choreo LLC acquired a new position in DiamondRock Hospitality during the second quarter worth about $89,000. Evergreen Capital Management LLC grew its holdings in DiamondRock Hospitality by 14.4% during the second quarter. Evergreen Capital Management LLC now owns 14,372 shares of the real estate investment trust’s stock worth $122,000 after acquiring an additional 1,810 shares during the period. LDR Capital Management LLC grew its holdings in DiamondRock Hospitality by 25.5% during the first quarter. LDR Capital Management LLC now owns 13,244 shares of the real estate investment trust’s stock worth $127,000 after acquiring an additional 2,692 shares during the period. Finally, BOKF NA grew its holdings in DiamondRock Hospitality by 83.8% during the first quarter. BOKF NA now owns 15,179 shares of the real estate investment trust’s stock worth $145,000 after acquiring an additional 6,920 shares during the period.

Analysts Set New Price Targets

A number of research analysts recently issued reports on DRH shares. StockNews.com raised DiamondRock Hospitality from a “sell” rating to a “hold” rating in a report on Saturday, August 10th. 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 report on Monday, August 5th. Truist Financial dropped their price target on DiamondRock Hospitality from $11.00 to $10.00 and set a “hold” rating on the stock in a research note on Wednesday, September 4th. Finally, Wells Fargo & Company dropped their price target on 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. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $9.92.

DiamondRock Hospitality Trading Up 1.0 %

Shares of NYSE DRH opened at $8.81 on Friday. DiamondRock Hospitality has a one year low of $7.33 and a one year high of $9.99. The firm has a market capitalization of $1.85 billion, a PE ratio of 24.46, a PEG ratio of 4.43 and a beta of 1.60. The company has a current ratio of 2.03, a quick ratio of 2.03 and a debt-to-equity ratio of 0.71. The business has a 50-day moving average price of $8.52 and a two-hundred day moving average price of $8.60.

DiamondRock Hospitality (NYSE:DRH) last announced its quarterly earnings data 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). DiamondRock Hospitality had a return on equity of 4.31% and a net margin of 6.43%. The business had revenue of $309.28 million for the quarter, compared to analyst estimates of $301.77 million. During the same quarter in the previous year, the business posted $0.32 earnings per share. The company’s revenue was up 6.2% compared to the same quarter last year. As a group, analysts predict that DiamondRock Hospitality will post 0.98 earnings per share for the current fiscal year.

DiamondRock Hospitality Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Monday, September 30th will be issued a dividend of $0.03 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $0.12 annualized dividend and a dividend yield of 1.36%. DiamondRock Hospitality’s dividend payout ratio is 33.33%.

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.