Everence Capital Management Inc. Sells 8,890 Shares of DiamondRock Hospitality (NYSE:DRH)

Everence Capital Management Inc. reduced its position in shares of DiamondRock Hospitality (NYSE:DRH) by 31.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,450 shares of the real estate investment trust’s stock after selling 8,890 shares during the period. Everence Capital Management Inc.’s holdings in DiamondRock Hospitality were worth $170,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the company. Evergreen Capital Management LLC grew its position in shares of DiamondRock Hospitality by 14.4% during the 2nd quarter. Evergreen Capital Management LLC now owns 14,372 shares of the real estate investment trust’s stock valued at $122,000 after purchasing an additional 1,810 shares in the last quarter. Louisiana State Employees Retirement System grew its position in DiamondRock Hospitality by 1.8% in the second quarter. Louisiana State Employees Retirement System now owns 105,700 shares of the real estate investment trust’s stock worth $893,000 after acquiring an additional 1,900 shares in the last quarter. Van ECK Associates Corp grew its position in DiamondRock Hospitality by 6.7% in the second quarter. Van ECK Associates Corp now owns 32,191 shares of the real estate investment trust’s stock worth $272,000 after acquiring an additional 2,028 shares in the last quarter. LDR Capital Management LLC grew its position in 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 worth $127,000 after acquiring an additional 2,692 shares in the last quarter. Finally, ProShare Advisors LLC grew its position in DiamondRock Hospitality by 7.4% in the first quarter. ProShare Advisors LLC now owns 42,394 shares of the real estate investment trust’s stock worth $407,000 after acquiring an additional 2,916 shares in the last quarter.

Analyst Ratings Changes

Several research analysts recently issued reports on DRH shares. Truist Financial cut their target price on shares of DiamondRock Hospitality from $11.00 to $10.00 and set a “hold” rating for the company in a research report on Wednesday, September 4th. Compass Point raised shares of 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. Wells Fargo & Company lowered their price target on shares of 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. Finally, StockNews.com raised shares of DiamondRock Hospitality from a “sell” rating to a “hold” rating in a research note on Saturday, August 10th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, DiamondRock Hospitality presently has a consensus rating of “Hold” and an average price target of $9.92.

DiamondRock Hospitality Stock Performance

Shares of NYSE:DRH opened at $8.87 on Wednesday. The company has a market cap of $1.86 billion, a price-to-earnings ratio of 24.64, a price-to-earnings-growth ratio of 4.27 and a beta of 1.60. The company has a 50-day moving average price of $8.68 and a 200-day moving average price of $8.56. The company has a current ratio of 2.03, a quick 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 issued its quarterly earnings data on Thursday, August 1st. The real estate investment trust reported $0.10 EPS for the quarter, missing the consensus estimate of $0.32 by ($0.22). The firm had revenue of $309.28 million for the quarter, compared to the consensus estimate of $301.77 million. DiamondRock Hospitality had a net margin of 6.43% and a return on equity of 4.31%. The business’s revenue was up 6.2% on a year-over-year basis. During the same period last year, the company posted $0.32 earnings per share. As a group, equities analysts anticipate that DiamondRock Hospitality will post 0.98 EPS for the current year.

DiamondRock Hospitality Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Monday, September 30th were paid a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 1.35%. The ex-dividend date was Monday, September 30th. DiamondRock Hospitality’s dividend payout ratio (DPR) is 33.33%.

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.