Victory Capital Management Inc. Lowers Holdings in DiamondRock Hospitality (NYSE:DRH)

Victory Capital Management Inc. decreased its position in DiamondRock Hospitality (NYSE:DRH) by 2.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,608,475 shares of the real estate investment trust’s stock after selling 73,538 shares during the period. Victory Capital Management Inc. owned approximately 1.24% of DiamondRock Hospitality worth $24,494,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Evergreen Capital Management LLC purchased a new position in DiamondRock Hospitality in the third quarter worth about $90,000. Jump Financial LLC increased its position in shares of DiamondRock Hospitality by 80.8% during the third quarter. Jump Financial LLC now owns 20,500 shares of the real estate investment trust’s stock valued at $165,000 after acquiring an additional 9,164 shares in the last quarter. Inspire Advisors LLC purchased a new position in DiamondRock Hospitality in the 3rd quarter worth approximately $170,000. QRG Capital Management Inc. bought a new position in DiamondRock Hospitality in the 3rd quarter valued at approximately $196,000. Finally, Advisor Partners II LLC boosted its stake in DiamondRock Hospitality by 133.6% during the 3rd quarter. Advisor Partners II LLC now owns 25,990 shares of the real estate investment trust’s stock valued at $209,000 after purchasing an additional 14,864 shares during the last quarter.

DiamondRock Hospitality Trading Down 3.4 %

DiamondRock Hospitality stock opened at $8.42 on Thursday. The business has a 50-day simple moving average of $9.29 and a two-hundred day simple moving average of $9.02. DiamondRock Hospitality has a 52-week low of $7.33 and a 52-week high of $9.99. The company has a quick ratio of 2.00, a current ratio of 2.04 and a debt-to-equity ratio of 0.71. The company has a market cap of $1.77 billion, a P/E ratio of 23.39 and a beta of 1.61.

DiamondRock Hospitality (NYSE:DRH) last announced its earnings results on Friday, February 23rd. The real estate investment trust reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.14). The business had revenue of $263.50 million for the quarter, compared to the consensus estimate of $261.45 million. DiamondRock Hospitality had a net margin of 7.86% and a return on equity of 5.20%. The business’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.23 earnings per share. Analysts predict that DiamondRock Hospitality will post 0.96 EPS for the current year.

DiamondRock Hospitality Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Friday, March 29th were issued a $0.03 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $0.12 dividend on an annualized basis and a yield of 1.43%. DiamondRock Hospitality’s dividend payout ratio is currently 33.33%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on DRH shares. Stifel Nicolaus upped their price target on DiamondRock Hospitality from $10.00 to $10.50 and gave the company a “buy” rating in a report on Friday, February 23rd. StockNews.com raised shares of DiamondRock Hospitality from a “sell” rating to a “hold” rating in a report on Friday, May 3rd. Wolfe Research started coverage on shares of DiamondRock Hospitality in a report on Wednesday, January 10th. They set an “outperform” rating and a $11.00 price objective for the company. Finally, Truist Financial raised their target price on shares of DiamondRock Hospitality from $10.00 to $11.00 and gave the stock a “hold” rating in a report on Thursday, March 14th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $10.30.

DiamondRock Hospitality 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.