QRG Capital Management Inc. Acquires 4,678 Shares of DiamondRock Hospitality (NYSE:DRH)

QRG Capital Management Inc. increased its holdings in shares of DiamondRock Hospitality (NYSE:DRH) by 5.1% in the third quarter, HoldingsChannel reports. The firm owned 96,917 shares of the real estate investment trust’s stock after buying an additional 4,678 shares during the period. QRG Capital Management Inc.’s holdings in DiamondRock Hospitality were worth $846,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Centersquare Investment Management LLC increased its position in DiamondRock Hospitality by 40.3% during the 1st quarter. Centersquare Investment Management LLC now owns 6,303,698 shares of the real estate investment trust’s stock worth $56,103,000 after buying an additional 1,810,788 shares during the period. Dimensional Fund Advisors LP increased its position in DiamondRock Hospitality by 4.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,102,363 shares of the real estate investment trust’s stock worth $26,214,000 after buying an additional 120,228 shares during the period. Victory Capital Management Inc. increased its position in DiamondRock Hospitality by 1.7% during the 2nd quarter. Victory Capital Management Inc. now owns 2,618,538 shares of the real estate investment trust’s stock worth $22,127,000 after buying an additional 43,050 shares during the period. Bank of New York Mellon Corp increased its position in DiamondRock Hospitality by 1.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,081,031 shares of the real estate investment trust’s stock worth $17,585,000 after buying an additional 25,154 shares during the period. Finally, Millennium Management LLC bought a new position in DiamondRock Hospitality during the 2nd quarter worth $15,118,000.

DiamondRock Hospitality Stock Up 0.1 %

Shares of NYSE DRH opened at $9.26 on Friday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 2.03 and a current ratio of 2.03. DiamondRock Hospitality has a 52 week low of $7.74 and a 52 week high of $9.99. The stock has a market capitalization of $1.92 billion, a P/E ratio of 31.93, a PEG ratio of 5.45 and a beta of 1.60. The stock’s fifty day moving average is $8.79 and its 200 day moving average is $8.54.

DiamondRock Hospitality Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Monday, September 30th were given a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 1.30%. The ex-dividend date of this dividend was Monday, September 30th. DiamondRock Hospitality’s dividend payout ratio is presently 41.38%.

Analysts Set New Price Targets

DRH has been the topic of several recent research reports. Wells Fargo & Company lowered 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, September 13th. Truist Financial lowered their price objective 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 upgraded 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. Finally, StockNews.com cut DiamondRock Hospitality from a “hold” rating to a “sell” rating in a research report on Monday, November 4th. One analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $10.10.

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.