DiamondRock Hospitality (NYSE:DRH) Shares Sold by MQS Management LLC

MQS Management LLC lessened its holdings in DiamondRock Hospitality (NYSE:DRH) by 51.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 27,594 shares of the real estate investment trust’s stock after selling 29,266 shares during the period. MQS Management LLC’s holdings in DiamondRock Hospitality were worth $241,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of DRH. Allspring Global Investments Holdings LLC raised its holdings in shares of DiamondRock Hospitality by 9.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 46,240 shares of the real estate investment trust’s stock valued at $444,000 after buying an additional 3,897 shares during the period. BNP Paribas Financial Markets raised its holdings in shares of DiamondRock Hospitality by 13.1% in the 1st quarter. BNP Paribas Financial Markets now owns 105,115 shares of the real estate investment trust’s stock valued at $1,010,000 after buying an additional 12,194 shares during the period. Sei Investments Co. raised its holdings in shares of DiamondRock Hospitality by 14.5% in the 1st quarter. Sei Investments Co. now owns 305,919 shares of the real estate investment trust’s stock valued at $2,940,000 after buying an additional 38,745 shares during the period. Russell Investments Group Ltd. raised its holdings in shares of DiamondRock Hospitality by 19.9% in the 1st quarter. Russell Investments Group Ltd. now owns 562,844 shares of the real estate investment trust’s stock valued at $5,409,000 after buying an additional 93,381 shares during the period. Finally, ProShare Advisors LLC raised its holdings in shares of DiamondRock Hospitality by 7.4% in the 1st quarter. ProShare Advisors LLC now owns 42,394 shares of the real estate investment trust’s stock valued at $407,000 after buying an additional 2,916 shares during the period.

DiamondRock Hospitality Stock Down 2.1 %

Shares of NYSE DRH opened at $8.85 on Friday. The stock has a market cap of $1.84 billion, a PE ratio of 31.64, a price-to-earnings-growth ratio of 5.38 and a beta of 1.60. The company has a quick ratio of 2.03, a current ratio of 1.73 and a debt-to-equity ratio of 0.66. DiamondRock Hospitality has a 52-week low of $7.74 and a 52-week high of $9.99. The business has a 50-day moving average price of $8.84 and a 200 day moving average price of $8.55.

DiamondRock Hospitality Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Monday, September 30th were given a dividend of $0.03 per share. The ex-dividend date was Monday, September 30th. This represents a $0.12 dividend on an annualized basis and a yield of 1.36%. DiamondRock Hospitality’s payout ratio is 42.86%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on DRH shares. Truist Financial cut their price target on DiamondRock Hospitality from $11.00 to $10.00 and set a “hold” rating on the stock in a 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 report on Monday, August 5th. Wells Fargo & Company cut their price target on DiamondRock Hospitality from $9.50 to $9.00 and set an “equal weight” rating on the stock in a report on Friday, September 13th. StockNews.com upgraded DiamondRock Hospitality from a “sell” rating to a “hold” rating in a report on Tuesday. Finally, Evercore ISI downgraded DiamondRock Hospitality from an “outperform” rating to an “inline” rating and set a $10.50 price target on the stock. in a report on Friday. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, DiamondRock Hospitality presently has an average rating of “Moderate Buy” and an average price target of $10.17.

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.