Centersquare Investment Management LLC Acquires 244,013 Shares of DiamondRock Hospitality Company $DRH

Centersquare Investment Management LLC lifted its position in DiamondRock Hospitality Company (NYSE:DRH) by 3.2% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 7,780,988 shares of the real estate investment trust’s stock after purchasing an additional 244,013 shares during the period. Centersquare Investment Management LLC owned about 3.82% of DiamondRock Hospitality worth $69,718,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in DRH. SG Americas Securities LLC grew its holdings in shares of DiamondRock Hospitality by 881.7% in the fourth quarter. SG Americas Securities LLC now owns 2,024,790 shares of the real estate investment trust’s stock worth $18,142,000 after purchasing an additional 1,818,527 shares during the last quarter. Qube Research & Technologies Ltd grew its holdings in shares of DiamondRock Hospitality by 469.0% in 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 purchasing an additional 1,650,871 shares during the last quarter. Bank of America Corp DE grew its holdings in shares of DiamondRock Hospitality by 17.5% in 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 purchasing an additional 1,377,897 shares during the last quarter. Hudson Bay Capital Management LP bought a new position in shares of DiamondRock Hospitality in the third quarter worth approximately $9,098,000. Finally, Man Group plc grew its holdings in shares of DiamondRock Hospitality by 683.6% in 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 purchasing an additional 1,047,772 shares during the last quarter.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on DRH. Citigroup raised their target price on shares of DiamondRock Hospitality from $9.50 to $11.00 and gave the stock a “neutral” rating in a report on Wednesday, May 6th. Morgan Stanley raised their target price on shares of DiamondRock Hospitality from $9.50 to $9.60 and gave the stock an “equal weight” rating in a report on Tuesday, May 12th. Stifel Nicolaus set a $12.25 target price on shares of DiamondRock Hospitality in a report on Thursday, June 4th. Truist Financial raised their target price on shares of DiamondRock Hospitality from $11.00 to $12.00 and gave the stock a “buy” rating in a report on Tuesday, May 26th. Finally, LADENBURG THALM/SH SH began coverage on shares of DiamondRock Hospitality in a report on Thursday, March 26th. They issued a “buy” rating and a $12.00 target price on the stock. Three analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $11.43.

Insiders Place Their Bets

In related news, Director Michael A. Hartmeier sold 20,000 shares of DiamondRock Hospitality 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 sale, the director owned 95,354 shares in the company, valued at $997,402.84. The trade was a 17.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.90% of the stock is currently owned by company insiders.

DiamondRock Hospitality Stock Performance

NYSE:DRH opened at $11.84 on Friday. The stock has a market cap of $2.42 billion, a P/E ratio of 47.36, a price-to-earnings-growth ratio of 4.50 and a beta of 1.00. The firm’s fifty day simple moving average is $10.56 and its 200 day simple moving average is $9.80. DiamondRock Hospitality Company has a twelve month low of $7.44 and a twelve month high of $11.93. 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 Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 14th. Investors of record on Tuesday, June 30th will be issued a $0.09 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $0.36 annualized dividend and a yield of 3.0%. DiamondRock Hospitality’s payout ratio is 76.60%.

DiamondRock Hospitality 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.