DiamondRock Hospitality (NYSE:DRH) Shares Purchased by Orion Portfolio Solutions LLC

Orion Portfolio Solutions LLC lifted its position in DiamondRock Hospitality (NYSE:DRH) by 1.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 104,965 shares of the real estate investment trust’s stock after acquiring an additional 1,652 shares during the quarter. Orion Portfolio Solutions LLC owned 0.05% of DiamondRock Hospitality worth $916,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Quarry LP lifted its stake in DiamondRock Hospitality by 2,093.9% during the second quarter. Quarry LP now owns 3,949 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 3,769 shares during the last quarter. Headlands Technologies LLC acquired a new stake in shares of DiamondRock Hospitality during the second quarter worth $42,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of DiamondRock Hospitality by 35.1% during the third 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 during the period. Harbor Capital Advisors Inc. bought a new position in shares of DiamondRock Hospitality in the 3rd quarter worth about $74,000. Finally, Choreo LLC acquired a new position in shares of DiamondRock Hospitality in the 2nd quarter valued at about $89,000.

Analyst Ratings Changes

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

DiamondRock Hospitality Stock Down 0.4 %

Shares of DiamondRock Hospitality stock opened at $9.65 on Monday. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.73 and a quick ratio of 1.73. DiamondRock Hospitality has a 1-year low of $7.74 and a 1-year high of $10.00. The business’s fifty day moving average price is $9.11 and its two-hundred day moving average price is $8.66. The company has a market capitalization of $2.00 billion, a P/E ratio of 34.46, a PEG ratio of 5.65 and a beta of 1.60.

DiamondRock Hospitality Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 14th. Investors of record on Tuesday, December 31st will be paid a dividend of $0.32 per share. This is a boost from DiamondRock Hospitality’s previous quarterly dividend of $0.03. This represents a $1.28 dividend on an annualized basis and a dividend yield of 13.26%. The ex-dividend date is Tuesday, December 31st. DiamondRock Hospitality’s payout ratio is currently 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.