DiamondRock Hospitality (NYSE:DRH) Shares Acquired by BNP Paribas Financial Markets

BNP Paribas Financial Markets increased its holdings in DiamondRock Hospitality (NYSE:DRH) by 46.0% during the third quarter, HoldingsChannel.com reports. The fund owned 65,575 shares of the real estate investment trust’s stock after buying an additional 20,660 shares during the period. BNP Paribas Financial Markets’ holdings in DiamondRock Hospitality were worth $572,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Quantbot Technologies LP increased its stake in DiamondRock Hospitality by 20.5% in the third quarter. Quantbot Technologies LP now owns 69,554 shares of the real estate investment trust’s stock valued at $607,000 after purchasing an additional 11,824 shares during the period. Daiwa Securities Group Inc. grew its holdings in shares of DiamondRock Hospitality by 3.9% during the third quarter. Daiwa Securities Group Inc. now owns 68,728 shares of the real estate investment trust’s stock worth $600,000 after buying an additional 2,598 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of DiamondRock Hospitality by 2.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 4,475,664 shares of the real estate investment trust’s stock worth $39,073,000 after buying an additional 103,209 shares during the last quarter. Intech Investment Management LLC raised its stake in DiamondRock Hospitality by 199.2% during the 3rd quarter. Intech Investment Management LLC now owns 82,739 shares of the real estate investment trust’s stock valued at $722,000 after acquiring an additional 55,086 shares during the last quarter. Finally, Pzena Investment Management LLC raised its stake in DiamondRock Hospitality by 3.6% during the 3rd quarter. Pzena Investment Management LLC now owns 9,153,018 shares of the real estate investment trust’s stock valued at $79,906,000 after acquiring an additional 317,901 shares during the last quarter.

Analysts Set New Price Targets

A number of research firms have recently issued reports on DRH. Evercore ISI lowered DiamondRock Hospitality from an “outperform” rating to an “inline” rating and set a $10.50 target price on the stock. in a report on Friday, November 15th. Wells Fargo & Company boosted their price objective on shares of DiamondRock Hospitality from $10.00 to $10.50 and gave the company an “equal weight” rating in a research note on Monday, December 9th. StockNews.com upgraded shares of DiamondRock Hospitality from a “sell” rating to a “hold” rating in a research note on Tuesday, November 12th. Truist Financial dropped their price target on shares of DiamondRock Hospitality from $11.00 to $10.00 and set a “hold” rating on the stock in a research note on Wednesday, September 4th. Finally, Stifel Nicolaus downgraded shares of DiamondRock Hospitality from a “buy” rating to a “hold” rating and reduced their price objective for the company from $10.75 to $10.25 in a research report on Friday, November 22nd. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, DiamondRock Hospitality currently has an average rating of “Hold” and a consensus target price of $10.38.

DiamondRock Hospitality Stock Performance

NYSE:DRH opened at $9.65 on Friday. The firm’s fifty day simple moving average is $9.10 and its 200-day simple moving average is $8.65. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.66. The stock has a market cap of $2.00 billion, a PE ratio of 34.46, a price-to-earnings-growth ratio of 5.65 and a beta of 1.60. DiamondRock Hospitality has a fifty-two week low of $7.74 and a fifty-two week high of $10.00.

DiamondRock Hospitality Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 14th. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 13.26%. This is an increase from DiamondRock Hospitality’s previous quarterly dividend of $0.03. The ex-dividend date of this dividend is Tuesday, December 31st. DiamondRock Hospitality’s dividend payout ratio (DPR) is presently 42.86%.

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.