DiamondRock Hospitality (NYSE:DRH) Stock Holdings Boosted by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. lifted its position in DiamondRock Hospitality (NYSE:DRH) by 3.9% during the third quarter, Holdings Channel reports. The institutional investor owned 68,728 shares of the real estate investment trust’s stock after buying an additional 2,598 shares during the quarter. Daiwa Securities Group Inc.’s holdings in DiamondRock Hospitality were worth $600,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of DRH. Pzena Investment Management LLC increased its stake in DiamondRock Hospitality by 3.6% in the 3rd quarter. Pzena Investment Management LLC now owns 9,153,018 shares of the real estate investment trust’s stock worth $79,906,000 after purchasing an additional 317,901 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of DiamondRock Hospitality by 2.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 4,475,664 shares of the real estate investment trust’s stock worth $39,073,000 after buying an additional 103,209 shares during the period. Dimensional Fund Advisors LP increased its position in shares of DiamondRock Hospitality by 4.0% in the second quarter. Dimensional Fund Advisors LP now owns 3,102,363 shares of the real estate investment trust’s stock worth $26,214,000 after acquiring an additional 120,228 shares in the last quarter. Victory Capital Management Inc. raised its holdings in shares of DiamondRock Hospitality by 0.9% during the third quarter. Victory Capital Management Inc. now owns 2,642,787 shares of the real estate investment trust’s stock valued at $23,072,000 after acquiring an additional 24,249 shares during the period. Finally, Bank of New York Mellon Corp lifted its position in shares of DiamondRock Hospitality by 1.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,081,031 shares of the real estate investment trust’s stock valued at $17,585,000 after acquiring an additional 25,154 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. StockNews.com raised shares of DiamondRock Hospitality from a “sell” rating to a “hold” rating in a research note on Tuesday, November 12th. Compass Point raised DiamondRock Hospitality from a “neutral” rating to a “buy” rating and set a $10.00 price target on the stock in a research report on Monday, August 5th. 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 note on Wednesday, September 4th. Wells Fargo & Company lowered their target price 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. Finally, Stifel Nicolaus lowered shares of DiamondRock Hospitality from a “buy” rating to a “hold” rating and reduced their price target for the stock from $10.75 to $10.25 in a research report on Friday, November 22nd. Four equities 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 stock currently has an average rating of “Hold” and a consensus price target of $10.13.

DiamondRock Hospitality Stock Up 0.9 %

DRH opened at $9.28 on Friday. The company has a market capitalization of $1.93 billion, a PE ratio of 33.14, a price-to-earnings-growth ratio of 5.36 and a beta of 1.60. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.73 and a quick ratio of 1.73. DiamondRock Hospitality has a fifty-two week low of $7.74 and a fifty-two week high of $9.99. The business has a 50-day moving average of $8.97 and a 200-day moving average of $8.58.

DiamondRock Hospitality Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Monday, September 30th were given a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 1.29%. The ex-dividend date was Monday, September 30th. DiamondRock Hospitality’s dividend payout ratio is 42.86%.

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.