State of Alaska Department of Revenue Sells 6,267 Shares of DiamondRock Hospitality (NYSE:DRH)

State of Alaska Department of Revenue lessened its holdings in DiamondRock Hospitality (NYSE:DRH) by 2.8% during the third quarter, HoldingsChannel.com reports. The firm owned 218,029 shares of the real estate investment trust’s stock after selling 6,267 shares during the period. State of Alaska Department of Revenue’s holdings in DiamondRock Hospitality were worth $1,902,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. Quarry LP increased its stake in DiamondRock Hospitality by 2,093.9% in the 2nd quarter. Quarry LP now owns 3,949 shares of the real estate investment trust’s stock valued at $33,000 after buying an additional 3,769 shares during the last quarter. Headlands Technologies LLC bought a new position in shares of DiamondRock Hospitality in the 2nd quarter valued at about $42,000. Mirae Asset Global Investments Co. Ltd. increased its position in shares of DiamondRock Hospitality by 35.1% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,153 shares of the real estate investment trust’s stock valued at $73,000 after acquiring an additional 2,116 shares during the last quarter. Choreo LLC bought a new stake in DiamondRock Hospitality during the second quarter worth about $89,000. Finally, SG Americas Securities LLC acquired a new position in DiamondRock Hospitality during the third quarter valued at approximately $100,000.

DiamondRock Hospitality Stock Performance

Shares of DiamondRock Hospitality stock opened at $8.60 on Friday. 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 company has a market cap of $1.78 billion, a PE ratio of 29.66, a price-to-earnings-growth ratio of 5.21 and a beta of 1.60. The company has a 50 day moving average of $8.75 and a 200-day moving average of $8.54. DiamondRock Hospitality has a 1-year low of $7.74 and a 1-year high of $9.99.

DiamondRock Hospitality (NYSE:DRH) last released its earnings results on Thursday, August 1st. The real estate investment trust reported $0.10 earnings per share for the quarter, missing the consensus estimate 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 the consensus estimate of $301.77 million. During the same quarter in the previous year, the company earned $0.32 earnings per share. The firm’s revenue for the quarter was up 6.2% on a year-over-year basis. As a group, equities research analysts forecast that DiamondRock Hospitality will post 0.98 earnings per share for the current fiscal year.

DiamondRock Hospitality Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Monday, September 30th were given a dividend of $0.03 per share. The ex-dividend date was Monday, September 30th. This represents a $0.12 annualized dividend and a dividend yield of 1.40%. DiamondRock Hospitality’s dividend payout ratio is currently 41.38%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. Truist Financial dropped their price objective 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. 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 report on Friday, September 13th. StockNews.com raised shares of DiamondRock Hospitality from a “sell” rating to a “hold” rating in a research report on Saturday, August 10th. Finally, Compass Point raised shares of 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. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target 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.