Jane Street Group LLC Has $2.64 Million Stake in DiamondRock Hospitality (NYSE:DRH)

Jane Street Group LLC increased its position in shares of DiamondRock Hospitality (NYSE:DRH) by 73.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 302,757 shares of the real estate investment trust’s stock after purchasing an additional 127,717 shares during the period. Jane Street Group LLC’s holdings in DiamondRock Hospitality were worth $2,643,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of DRH. Quarry LP raised its stake in DiamondRock Hospitality by 2,093.9% during the second quarter. Quarry LP now owns 3,949 shares of the real estate investment trust’s stock worth $33,000 after acquiring an additional 3,769 shares in the last quarter. Headlands Technologies LLC acquired a new position in DiamondRock Hospitality in the second quarter valued at about $42,000. Mirae Asset Global Investments Co. Ltd. grew its stake in DiamondRock Hospitality by 35.1% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,153 shares of the real estate investment trust’s stock worth $73,000 after buying an additional 2,116 shares during the last quarter. Harbor Capital Advisors Inc. acquired a new stake in shares of DiamondRock Hospitality during the third quarter worth approximately $74,000. Finally, Choreo LLC bought a new position in shares of DiamondRock Hospitality in the second quarter valued at approximately $89,000.

Wall Street Analyst Weigh In

A number of research firms have commented on DRH. Evercore ISI lowered DiamondRock Hospitality from an “outperform” rating to an “inline” rating and set a $10.50 price objective on the stock. in a research note on Friday, November 15th. Wells Fargo & Company boosted their price objective on shares of DiamondRock Hospitality from $10.00 to $10.50 and gave the stock an “equal weight” rating in a research report on Monday, December 9th. Stifel Nicolaus lowered DiamondRock Hospitality from a “buy” rating to a “hold” rating and decreased their price objective for the company from $10.75 to $10.25 in a research report on Friday, November 22nd. Truist Financial cut 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, StockNews.com upgraded DiamondRock Hospitality from a “sell” rating to a “hold” rating in a research report on Tuesday, November 12th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, DiamondRock Hospitality currently has a consensus rating of “Hold” and an average price target of $10.38.

DiamondRock Hospitality Stock Up 1.0 %

NYSE:DRH opened at $9.32 on Friday. The stock’s fifty day simple moving average is $9.17 and its 200-day simple moving average is $8.69. The firm has a market capitalization of $1.93 billion, a P/E ratio of 33.29, a P/E/G ratio of 5.65 and a beta of 1.60. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.66. DiamondRock Hospitality has a 12-month low of $7.74 and a 12-month high of $10.00.

DiamondRock Hospitality Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 14th. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.32 per share. This is a positive change from DiamondRock Hospitality’s previous quarterly dividend of $0.03. This represents a $1.28 annualized dividend and a dividend yield of 13.73%. The ex-dividend date of this dividend is Tuesday, December 31st. DiamondRock Hospitality’s payout ratio is presently 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.