Cohen & Steers Inc. Takes $59.23 Million Position in DiamondRock Hospitality Company $DRH

Cohen & Steers Inc. purchased a new stake in shares of DiamondRock Hospitality Company (NYSE:DRH) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 6,610,649 shares of the real estate investment trust’s stock, valued at approximately $59,231,000. Cohen & Steers Inc. owned about 3.25% of DiamondRock Hospitality at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Hudson Bay Capital Management LP acquired a new stake in DiamondRock Hospitality in the 3rd quarter worth approximately $9,098,000. Centersquare Investment Management LLC lifted its holdings in DiamondRock Hospitality by 6.0% in the 3rd quarter. Centersquare Investment Management LLC now owns 7,536,975 shares of the real estate investment trust’s stock worth $59,994,000 after purchasing an additional 427,467 shares during the last quarter. UBS Group AG lifted its holdings in DiamondRock Hospitality by 49.9% in the 4th quarter. UBS Group AG now owns 2,627,787 shares of the real estate investment trust’s stock worth $23,545,000 after purchasing an additional 874,536 shares during the last quarter. SG Americas Securities LLC lifted its holdings in DiamondRock Hospitality by 881.7% in the 4th 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. Finally, Lighthouse Investment Partners LLC lifted its holdings in DiamondRock Hospitality by 35.2% in the 3rd quarter. Lighthouse Investment Partners LLC now owns 825,000 shares of the real estate investment trust’s stock worth $6,567,000 after purchasing an additional 215,000 shares during the last quarter.

Insiders Place Their Bets

In other DiamondRock Hospitality news, Director Michael A. Hartmeier sold 20,000 shares of the company’s stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $10.46, for a total value of $209,200.00. Following the sale, the director directly owned 95,354 shares in the company, valued at $997,402.84. This represents a 17.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.90% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on DRH. LADENBURG THALM/SH SH began coverage on DiamondRock Hospitality in a report on Thursday, March 26th. They issued a “buy” rating and a $12.00 target price for the company. Wells Fargo & Company boosted their target price on DiamondRock Hospitality from $11.00 to $12.00 and gave the stock an “equal weight” rating in a report on Monday, June 1st. Citigroup boosted their target price on DiamondRock Hospitality from $9.50 to $11.00 and gave the stock a “neutral” rating in a report on Wednesday, May 6th. Truist Financial lifted their price target on DiamondRock Hospitality from $11.00 to $12.00 and gave the stock a “buy” rating in a research report on Tuesday, May 26th. Finally, Morgan Stanley lifted their price target on DiamondRock Hospitality from $9.50 to $9.60 and gave the stock an “equal weight” rating in a research report on Tuesday, May 12th. Three analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat, DiamondRock Hospitality has a consensus rating of “Hold” and a consensus price target of $11.43.

DiamondRock Hospitality Stock Performance

Shares of NYSE DRH opened at $11.92 on Friday. The business has a fifty day simple moving average of $10.61 and a 200 day simple moving average of $9.82. The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 0.70. The firm has a market capitalization of $2.44 billion, a price-to-earnings ratio of 47.68, a PEG ratio of 4.50 and a beta of 1.00. DiamondRock Hospitality Company has a one year low of $7.44 and a one year high of $12.02.

DiamondRock Hospitality Announces Dividend

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