DiamondRock Hospitality (NYSE:DRH) Position Raised by Orion Portfolio Solutions LLC

Orion Portfolio Solutions LLC raised its position in shares of DiamondRock Hospitality (NYSE:DRH) by 1.6% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 104,965 shares of the real estate investment trust’s stock after purchasing an additional 1,652 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in DiamondRock Hospitality were worth $916,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Wellington Management Group LLP lifted its holdings in shares of 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 valued at $42,996,000 after buying an additional 663,529 shares during the period. MQS Management LLC acquired a new stake in DiamondRock Hospitality in the 2nd quarter valued at about $480,000. Holocene Advisors LP bought a new position in shares of DiamondRock Hospitality during the 3rd quarter valued at about $568,000. Millennium Management LLC acquired a new position in shares of DiamondRock Hospitality in the 2nd quarter worth approximately $15,118,000. Finally, Systematic Financial Management LP raised its holdings in shares of DiamondRock Hospitality by 8.9% in the 3rd quarter. Systematic Financial Management LP now owns 1,599,730 shares of the real estate investment trust’s stock worth $13,966,000 after purchasing an additional 130,507 shares in the last quarter.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on DRH. Wells Fargo & Company raised their target price 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. Stifel Nicolaus lowered DiamondRock Hospitality from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $10.75 to $10.25 in a research note on Friday, November 22nd. StockNews.com upgraded DiamondRock Hospitality from a “sell” rating to a “hold” rating in a report on Tuesday, November 12th. Truist Financial reduced their target price on DiamondRock Hospitality from $11.00 to $10.00 and set a “hold” rating for the company in a report on Wednesday, September 4th. Finally, 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 note on Friday, November 15th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $10.38.

DiamondRock Hospitality Stock Performance

Shares of DiamondRock Hospitality stock opened at $9.65 on Monday. DiamondRock Hospitality has a 12 month low of $7.74 and a 12 month high of $10.00. 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. The business has a fifty day simple moving average of $9.11 and a 200-day simple moving average of $8.66.

DiamondRock Hospitality Increases Dividend

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