DiamondRock Hospitality (NYSE:DRH) Shares Acquired by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP lifted its stake in shares of DiamondRock Hospitality (NYSE:DRH) by 4.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,102,363 shares of the real estate investment trust’s stock after purchasing an additional 120,228 shares during the quarter. Dimensional Fund Advisors LP owned about 1.48% of DiamondRock Hospitality worth $26,214,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Natixis acquired a new stake in shares of DiamondRock Hospitality during the 1st quarter worth approximately $728,000. Centersquare Investment Management LLC increased its position in DiamondRock Hospitality by 40.3% in the 1st quarter. Centersquare Investment Management LLC now owns 6,303,698 shares of the real estate investment trust’s stock valued at $56,103,000 after acquiring an additional 1,810,788 shares during the period. Russell Investments Group Ltd. increased its position in DiamondRock Hospitality by 19.9% in the 1st quarter. Russell Investments Group Ltd. now owns 562,844 shares of the real estate investment trust’s stock valued at $5,409,000 after acquiring an additional 93,381 shares during the period. Norges Bank acquired a new stake in DiamondRock Hospitality in the 4th quarter valued at approximately $13,301,000. Finally, Texas Permanent School Fund Corp increased its position in DiamondRock Hospitality by 7.1% in the 1st quarter. Texas Permanent School Fund Corp now owns 183,463 shares of the real estate investment trust’s stock valued at $1,763,000 after acquiring an additional 12,143 shares during the period.

Wall Street Analyst Weigh In

DRH has been the topic of several analyst reports. StockNews.com upgraded DiamondRock Hospitality from a “sell” rating to a “hold” rating in a research report on Saturday, August 10th. Truist Financial lowered their target price on DiamondRock Hospitality from $11.00 to $10.00 and set a “hold” rating on the stock in a research report on Wednesday, September 4th. Compass Point raised DiamondRock Hospitality from a “neutral” rating to a “buy” rating and set a $10.00 price target for the company in a research note on Monday, August 5th. Finally, Wells Fargo & Company decreased their price target on DiamondRock Hospitality from $9.50 to $9.00 and set an “equal weight” rating for the company in a research note on Friday, September 13th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $9.92.

DiamondRock Hospitality Stock Performance

Shares of NYSE DRH opened at $8.83 on Thursday. The firm has a market cap of $1.85 billion, a P/E ratio of 24.53, a PEG ratio of 4.43 and a beta of 1.60. The company has a debt-to-equity ratio of 0.71, a quick ratio of 2.03 and a current ratio of 2.03. The stock has a fifty day moving average price of $8.45 and a two-hundred day moving average price of $8.63. DiamondRock Hospitality has a 1 year low of $7.33 and a 1 year high of $9.99.

DiamondRock Hospitality (NYSE:DRH) last released its quarterly earnings data 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). The company had revenue of $309.28 million for the quarter, compared to the consensus estimate of $301.77 million. DiamondRock Hospitality had a return on equity of 4.31% and a net margin of 6.43%. The business’s revenue was up 6.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.32 earnings per share. Research analysts forecast that DiamondRock Hospitality will post 0.98 EPS for the current fiscal year.

DiamondRock Hospitality Dividend Announcement

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

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.