Fisher Asset Management LLC Trims Stake in DiamondRock Hospitality Company $DRH

Fisher Asset Management LLC lowered its stake in shares of DiamondRock Hospitality Company (NYSE:DRH) by 7.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 727,615 shares of the real estate investment trust’s stock after selling 57,616 shares during the quarter. Fisher Asset Management LLC owned about 0.36% of DiamondRock Hospitality worth $6,519,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of DRH. SG Americas Securities LLC increased its position in shares of DiamondRock Hospitality by 881.7% during the fourth quarter. SG Americas Securities LLC now owns 2,024,790 shares of the real estate investment trust’s stock valued at $18,142,000 after buying an additional 1,818,527 shares during the period. Qube Research & Technologies Ltd boosted its stake in DiamondRock Hospitality by 469.0% during the third quarter. Qube Research & Technologies Ltd now owns 2,002,863 shares of the real estate investment trust’s stock worth $15,943,000 after acquiring an additional 1,650,871 shares in the last quarter. Bank of America Corp DE boosted its stake in DiamondRock Hospitality by 17.5% during the second quarter. Bank of America Corp DE now owns 9,231,991 shares of the real estate investment trust’s stock worth $70,717,000 after acquiring an additional 1,377,897 shares in the last quarter. Hudson Bay Capital Management LP bought a new stake in DiamondRock Hospitality during the third quarter worth about $9,098,000. Finally, Man Group plc boosted its stake in DiamondRock Hospitality by 683.6% during the third quarter. Man Group plc now owns 1,201,040 shares of the real estate investment trust’s stock worth $9,560,000 after acquiring an additional 1,047,772 shares in the last quarter.

Analyst Ratings Changes

DRH has been the topic of several research reports. Truist Financial boosted their price objective on shares of DiamondRock Hospitality from $11.00 to $12.00 and gave the stock a “buy” rating in a research note on Tuesday. LADENBURG THALM/SH SH initiated coverage on shares of DiamondRock Hospitality in a research note on Thursday, March 26th. They set a “buy” rating and a $12.00 price objective on the stock. Wells Fargo & Company boosted their price objective on shares of DiamondRock Hospitality from $10.00 to $11.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 22nd. Stifel Nicolaus boosted their price objective on shares of DiamondRock Hospitality from $11.00 to $11.25 and gave the stock a “hold” rating in a research note on Monday, May 11th. Finally, Citigroup boosted their price objective on shares of DiamondRock Hospitality from $9.50 to $11.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 6th. Three research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $10.98.

Insiders Place Their Bets

In other news, CAO Steve Spierto sold 4,000 shares of the company’s stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $9.93, for a total transaction of $39,720.00. Following the transaction, the chief accounting officer directly owned 77,977 shares of the company’s stock, valued at $774,311.61. This represents a 4.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Michael A. Hartmeier sold 20,000 shares of the company’s stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $10.46, for a total value of $209,200.00. Following the transaction, the director directly owned 95,354 shares in the company, valued at approximately $997,402.84. The trade was a 17.34% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.90% of the company’s stock.

DiamondRock Hospitality Trading Up 0.2%

Shares of NYSE DRH opened at $11.17 on Friday. The firm’s 50 day moving average price is $10.16 and its 200-day moving average price is $9.63. The company has a market cap of $2.28 billion, a PE ratio of 44.68, a P/E/G ratio of 4.50 and a beta of 0.99. DiamondRock Hospitality Company has a 52-week low of $7.39 and a 52-week high of $11.27. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.64 and a current ratio of 1.64.

DiamondRock Hospitality (NYSE:DRH) last issued its earnings results on Thursday, February 26th. The real estate investment trust reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.03. The firm had revenue of $274.53 million for the quarter, compared to the consensus estimate of $273.18 million. DiamondRock Hospitality had a net margin of 5.69% and a return on equity of 4.04%. The business’s revenue was down 1.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.24 earnings per share. On average, equities research analysts expect that DiamondRock Hospitality Company will post 0.96 EPS for the current fiscal year.

DiamondRock Hospitality Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 14th. Stockholders of record on Tuesday, June 30th will be issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend is Tuesday, June 30th. DiamondRock Hospitality’s dividend payout ratio is presently 76.60%.

About DiamondRock Hospitality

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.