First Trust Direct Indexing L.P. Sells 1,744 Shares of DiamondRock Hospitality (NYSE:DRH)

First Trust Direct Indexing L.P. lessened its holdings in DiamondRock Hospitality (NYSE:DRH) by 10.3% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 15,118 shares of the real estate investment trust’s stock after selling 1,744 shares during the period. First Trust Direct Indexing L.P.’s holdings in DiamondRock Hospitality were worth $132,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Quarry LP grew its position in DiamondRock Hospitality by 2,093.9% in the 2nd quarter. Quarry LP now owns 3,949 shares of the real estate investment trust’s stock valued at $33,000 after acquiring an additional 3,769 shares during the last quarter. Headlands Technologies LLC bought a new position in DiamondRock Hospitality in the 2nd quarter valued at $42,000. Mirae Asset Global Investments Co. Ltd. grew its position in shares of DiamondRock Hospitality by 35.1% during the 3rd 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 in the last quarter. Choreo LLC bought a new position in shares of DiamondRock Hospitality during the 2nd quarter worth $89,000. Finally, SG Americas Securities LLC bought a new position in shares of DiamondRock Hospitality during the 3rd quarter worth $100,000.

DiamondRock Hospitality Trading Up 0.6 %

Shares of NYSE DRH opened at $8.75 on Wednesday. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.03 and a quick ratio of 2.03. The stock has a market capitalization of $1.81 billion, a P/E ratio of 30.17, a price-to-earnings-growth ratio of 5.04 and a beta of 1.60. DiamondRock Hospitality has a 1-year low of $7.74 and a 1-year high of $9.99. The business has a fifty day moving average price of $8.76 and a 200 day moving average price of $8.53.

DiamondRock Hospitality Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Monday, September 30th were paid a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.37%. The ex-dividend date was Monday, September 30th. DiamondRock Hospitality’s dividend payout ratio (DPR) is currently 41.38%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. 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. StockNews.com downgraded DiamondRock Hospitality from a “hold” rating to a “sell” rating in a research report on Monday. Truist Financial dropped their price target 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. Finally, Wells Fargo & Company dropped their price target on DiamondRock Hospitality from $9.50 to $9.00 and set an “equal weight” rating on the stock in a research report on Friday, September 13th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, DiamondRock Hospitality presently has a consensus rating of “Hold” and an average price target of $9.92.

DiamondRock Hospitality Company 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.