DiamondRock Hospitality (NYSE:DRH) Shares Sold by Hazelview Securities Inc.

Hazelview Securities Inc. lowered its stake in DiamondRock Hospitality (NYSE:DRH) by 86.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,800 shares of the real estate investment trust’s stock after selling 56,900 shares during the quarter. Hazelview Securities Inc.’s holdings in DiamondRock Hospitality were worth $84,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Norges Bank purchased a new stake in DiamondRock Hospitality during the fourth quarter worth about $13,301,000. Centersquare Investment Management LLC increased its stake in DiamondRock Hospitality by 17.0% during the fourth quarter. Centersquare Investment Management LLC now owns 4,492,910 shares of the real estate investment trust’s stock worth $42,188,000 after purchasing an additional 652,095 shares during the period. Bamco Inc. NY purchased a new stake in DiamondRock Hospitality during the third quarter worth about $3,866,000. Paralel Advisors LLC purchased a new stake in DiamondRock Hospitality during the fourth quarter worth about $2,352,000. Finally, Russell Investments Group Ltd. increased its stake in DiamondRock Hospitality by 88.8% during the fourth quarter. Russell Investments Group Ltd. now owns 469,463 shares of the real estate investment trust’s stock worth $4,408,000 after purchasing an additional 220,847 shares during the period.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Truist Financial upped their target price on shares of DiamondRock Hospitality from $10.00 to $11.00 and gave the stock a “hold” rating in a research note on Thursday, March 14th. StockNews.com upgraded DiamondRock Hospitality from a “sell” rating to a “hold” rating in a research report on Friday, May 3rd. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $10.30.

DiamondRock Hospitality Price Performance

Shares of DRH stock traded down $0.10 during mid-day trading on Wednesday, reaching $8.20. The stock had a trading volume of 772,818 shares, compared to its average volume of 1,859,346. DiamondRock Hospitality has a 12-month low of $7.33 and a 12-month high of $9.99. The company has a market cap of $1.72 billion, a P/E ratio of 22.83, a price-to-earnings-growth ratio of 6.11 and a beta of 1.59. The business has a 50-day simple moving average of $8.55 and a 200 day simple moving average of $9.07. The company has a current ratio of 2.04, a quick ratio of 2.04 and a debt-to-equity ratio of 0.71.

DiamondRock Hospitality Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Investors of record on Friday, June 28th will be given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 1.46%. The ex-dividend date of this dividend is Friday, June 28th. DiamondRock Hospitality’s dividend payout ratio is presently 33.33%.

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.