DiamondRock Hospitality (NYSE:DRH) Shares Sold by Vestcor Inc

Vestcor Inc trimmed its stake in shares of DiamondRock Hospitality (NYSE:DRH) by 86.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 15,621 shares of the real estate investment trust’s stock after selling 100,900 shares during the period. Vestcor Inc’s holdings in DiamondRock Hospitality were worth $136,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Quarry LP grew its stake 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 acquired a new stake in shares of DiamondRock Hospitality in the second quarter valued at approximately $42,000. Mirae Asset Global Investments Co. Ltd. increased its stake 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 purchasing an additional 2,116 shares in the last quarter. Harbor Capital Advisors Inc. purchased a new position in shares of DiamondRock Hospitality during the 3rd quarter worth approximately $74,000. Finally, Choreo LLC purchased a new stake in DiamondRock Hospitality in the 2nd quarter valued at approximately $89,000.

DiamondRock Hospitality Stock Down 0.4 %

DRH opened at $9.65 on Friday. DiamondRock Hospitality has a 12 month low of $7.74 and a 12 month high of $10.00. The business has a 50-day moving average of $9.10 and a two-hundred day moving average of $8.65. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.73 and a quick ratio of 1.73. The stock has a market capitalization of $2.00 billion, a price-to-earnings ratio of 34.46, a price-to-earnings-growth ratio of 5.65 and a beta of 1.60.

DiamondRock Hospitality Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 14th. Investors of record on Tuesday, December 31st will be issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a 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 payout ratio is presently 42.86%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on DRH shares. StockNews.com raised DiamondRock Hospitality from a “sell” rating to a “hold” rating in a research report on Tuesday, November 12th. Evercore ISI downgraded shares of DiamondRock Hospitality from an “outperform” rating to an “inline” rating and set a $10.50 target price for the company. in a research note on Friday, November 15th. Stifel Nicolaus cut shares of DiamondRock Hospitality from a “buy” rating to a “hold” rating and decreased their price target for the stock from $10.75 to $10.25 in a research note on Friday, November 22nd. Wells Fargo & Company lifted their price target on shares of DiamondRock Hospitality from $10.00 to $10.50 and gave the stock an “equal weight” rating in a report on Monday, December 9th. Finally, Truist Financial reduced their price objective 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. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $10.38.

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.