Public Employees Retirement System of Ohio Sells 1,834 Shares of DiamondRock Hospitality (NYSE:DRH)

Public Employees Retirement System of Ohio lessened its position in shares of DiamondRock Hospitality (NYSE:DRH) by 0.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 301,013 shares of the real estate investment trust’s stock after selling 1,834 shares during the quarter. Public Employees Retirement System of Ohio owned about 0.15% of DiamondRock Hospitality worth $2,628,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. State Street Corp increased its position in shares of DiamondRock Hospitality by 1.8% during the third quarter. State Street Corp now owns 12,535,384 shares of the real estate investment trust’s stock worth $109,806,000 after purchasing an additional 221,219 shares in the last quarter. Pzena Investment Management LLC increased its position 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 buying an additional 317,901 shares in the last quarter. Rush Island Management LP purchased a new stake in DiamondRock Hospitality in the third quarter valued at about $51,726,000. Wellington Management Group LLP boosted its holdings in DiamondRock Hospitality by 15.6% in the third quarter. Wellington Management Group LLP now owns 4,925,093 shares of the real estate investment trust’s stock worth $42,996,000 after acquiring an additional 663,529 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake 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 acquiring an additional 103,209 shares during the last quarter.

Wall Street Analyst Weigh In

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

DiamondRock Hospitality Stock Performance

NYSE DRH opened at $9.74 on Tuesday. The firm has a market capitalization of $2.02 billion, a P/E ratio of 35.00, a PEG ratio of 5.65 and a beta of 1.60. The stock has a 50-day simple moving average of $9.11 and a two-hundred day simple moving average of $8.66. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.73 and a current ratio of 1.73. 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. Shareholders of record on Tuesday, December 31st will be issued a $0.32 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This is an increase from DiamondRock Hospitality’s previous quarterly dividend of $0.03. This represents a $1.28 dividend on an annualized basis and a yield of 13.15%. DiamondRock Hospitality’s payout ratio is presently 42.86%.

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.