Daiwa Securities Group Inc. Sells 2,021 Shares of DiamondRock Hospitality (NYSE:DRH)

Daiwa Securities Group Inc. trimmed its position in shares of DiamondRock Hospitality (NYSE:DRH) by 3.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 66,130 shares of the real estate investment trust’s stock after selling 2,021 shares during the quarter. Daiwa Securities Group Inc.’s holdings in DiamondRock Hospitality were worth $559,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of DRH. Parallel Advisors LLC grew its position in DiamondRock Hospitality by 313.5% during the 4th quarter. Parallel Advisors LLC now owns 3,196 shares of the real estate investment trust’s stock worth $30,000 after acquiring an additional 2,423 shares during the last quarter. Quadrant Capital Group LLC grew its holdings in shares of DiamondRock Hospitality by 195.7% during the fourth quarter. Quadrant Capital Group LLC now owns 3,330 shares of the real estate investment trust’s stock worth $31,000 after purchasing an additional 2,204 shares during the last quarter. Choreo LLC acquired a new stake in shares of DiamondRock Hospitality in the second quarter valued at $89,000. LDR Capital Management LLC raised its holdings in shares of DiamondRock Hospitality by 25.5% in the first quarter. LDR Capital Management LLC now owns 13,244 shares of the real estate investment trust’s stock valued at $127,000 after buying an additional 2,692 shares during the last quarter. Finally, BOKF NA lifted its position in DiamondRock Hospitality by 83.8% during the 1st quarter. BOKF NA now owns 15,179 shares of the real estate investment trust’s stock worth $145,000 after buying an additional 6,920 shares in the last quarter.

DiamondRock Hospitality Stock Down 0.9 %

Shares of DiamondRock Hospitality stock opened at $8.44 on Tuesday. The business has a fifty day simple moving average of $8.34 and a 200 day simple moving average of $8.67. The stock has a market cap of $1.77 billion, a PE ratio of 23.44, a price-to-earnings-growth ratio of 4.07 and a beta of 1.60. The company has a quick ratio of 2.03, a current ratio of 2.03 and a debt-to-equity ratio of 0.71. DiamondRock Hospitality has a 12 month low of $7.33 and a 12 month high of $9.99.

DiamondRock Hospitality (NYSE:DRH) last posted its earnings results on Thursday, August 1st. The real estate investment trust reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.22). The company had revenue of $309.28 million for the quarter, compared to analyst estimates of $301.77 million. DiamondRock Hospitality had a return on equity of 4.31% and a net margin of 6.43%. DiamondRock Hospitality’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.32 earnings per share. Research analysts predict that DiamondRock Hospitality will post 0.98 EPS for the current year.

DiamondRock Hospitality Dividend Announcement

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 given a dividend of $0.03 per share. The ex-dividend date is Monday, September 30th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.42%. DiamondRock Hospitality’s dividend payout ratio is 33.33%.

Analyst Ratings Changes

DRH has been the subject of a number of research analyst reports. StockNews.com raised shares of DiamondRock Hospitality from a “sell” rating to a “hold” rating in a research note on Saturday, August 10th. Wells Fargo & Company decreased their price objective on DiamondRock Hospitality from $9.50 to $9.00 and set an “equal weight” rating on the stock in a research report on Friday. Truist Financial lowered their target price 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. Finally, 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 note on Monday, August 5th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, DiamondRock Hospitality currently has a consensus rating of “Hold” and a consensus price target of $9.92.

About DiamondRock Hospitality

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.