DiamondRock Hospitality Company $DRH Shares Sold by Allianz Asset Management GmbH

Allianz Asset Management GmbH reduced its stake in DiamondRock Hospitality Company (NYSE:DRH) by 28.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 613,634 shares of the real estate investment trust’s stock after selling 243,411 shares during the period. Allianz Asset Management GmbH’s holdings in DiamondRock Hospitality were worth $4,885,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of DRH. State of Wyoming purchased a new stake in shares of DiamondRock Hospitality in the 2nd quarter valued at approximately $58,000. Smartleaf Asset Management LLC raised its position in DiamondRock Hospitality by 33.8% in the second quarter. Smartleaf Asset Management LLC now owns 9,294 shares of the real estate investment trust’s stock valued at $72,000 after purchasing an additional 2,349 shares during the period. Profund Advisors LLC acquired a new position in DiamondRock Hospitality during the second quarter worth $79,000. United Services Automobile Association purchased a new position in shares of DiamondRock Hospitality during the first quarter worth $91,000. Finally, Ethic Inc. purchased a new position in shares of DiamondRock Hospitality during the second quarter worth $96,000.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Truist Financial raised DiamondRock Hospitality from a “hold” rating to a “buy” rating and increased their target price for the stock from $10.00 to $11.00 in a research note on Friday, January 9th. Morgan Stanley reduced their price target on shares of DiamondRock Hospitality from $9.00 to $8.50 and set an “equal weight” rating on the stock in a research report on Wednesday, October 22nd. Barclays started coverage on shares of DiamondRock Hospitality in a report on Tuesday, January 6th. They issued an “equal weight” rating and a $10.00 price objective for the company. Evercore raised their price target on shares of DiamondRock Hospitality from $9.00 to $10.00 and gave the company an “in-line” rating in a research report on Thursday, November 20th. Finally, Wells Fargo & Company boosted their price target on shares of DiamondRock Hospitality from $9.00 to $10.00 and gave the stock an “equal weight” rating in a research note on Monday, December 1st. Three equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, DiamondRock Hospitality currently has a consensus rating of “Hold” and an average price target of $9.91.

DiamondRock Hospitality Stock Up 5.1%

Shares of DiamondRock Hospitality stock opened at $10.02 on Wednesday. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 0.70. DiamondRock Hospitality Company has a 52-week low of $6.18 and a 52-week high of $10.04. The company has a market capitalization of $2.04 billion, a P/E ratio of 40.08, a P/E/G ratio of 4.50 and a beta of 1.03. The company has a 50 day moving average of $9.22 and a 200 day moving average of $8.57.

DiamondRock Hospitality Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 14th. Investors of record on Wednesday, December 31st were paid a dividend of $0.08 per share. The ex-dividend date was Wednesday, December 31st. This represents a $0.32 dividend on an annualized basis and a dividend yield of 3.2%. DiamondRock Hospitality’s payout ratio is presently 128.00%.

DiamondRock Hospitality Company Profile

DiamondRock Hospitality Company is a real estate investment trust (REIT) that acquires, owns and manages a diversified portfolio of upscale, full-service hotels in urban gateway markets across the United States. Established in 2004 and headquartered in Bethesda, Maryland, the company focuses on investing in high-quality lodging properties that cater to both business and leisure travelers. Its assets are positioned in key metropolitan areas, enabling DiamondRock to benefit from strong demand drivers such as corporate travel, group conventions and resort leisure stays.

The company’s portfolio includes full-service hotels offering a broad range of amenities, including guest rooms, on-site food and beverage outlets, meeting and event space, fitness centers and spa services.