Hsbc Holdings PLC Purchases 52,392 Shares of DiamondRock Hospitality Company $DRH

Hsbc Holdings PLC boosted its holdings in shares of DiamondRock Hospitality Company (NYSE:DRH) by 10.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 542,940 shares of the real estate investment trust’s stock after buying an additional 52,392 shares during the period. Hsbc Holdings PLC owned about 0.27% of DiamondRock Hospitality worth $4,881,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Hudson Bay Capital Management LP bought a new position in DiamondRock Hospitality during the third quarter worth about $9,098,000. UBS Group AG grew its stake in shares of 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 valued at $23,545,000 after purchasing an additional 874,536 shares during the period. Lighthouse Investment Partners LLC grew its stake in shares of 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 valued at $6,567,000 after purchasing an additional 215,000 shares during the period. SG Americas Securities LLC raised its holdings in shares of 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 buying an additional 1,818,527 shares in the last quarter. Finally, Segall Bryant & Hamill LLC acquired a new position in shares of DiamondRock Hospitality in the 3rd quarter worth approximately $2,491,000.

DiamondRock Hospitality Trading Up 0.4%

Shares of DRH opened at $12.46 on Friday. 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 12-month low of $7.45 and a 12-month high of $12.54. The firm has a market capitalization of $2.55 billion, a PE ratio of 49.86, a price-to-earnings-growth ratio of 4.50 and a beta of 1.00. The stock’s fifty day simple moving average is $11.08 and its 200-day simple moving average is $10.04.

DiamondRock Hospitality Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 14th. Shareholders of record on Tuesday, June 30th will be given a dividend of $0.09 per share. The ex-dividend date is Tuesday, June 30th. This represents a $0.36 dividend on an annualized basis and a yield of 2.9%. DiamondRock Hospitality’s dividend payout ratio is presently 76.60%.

Insider Transactions at DiamondRock Hospitality

In related news, Director Kathleen Merrill sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $11.88, for a total transaction of $237,600.00. Following the completion of the sale, the director directly owned 84,335 shares of the company’s stock, valued at $1,001,899.80. The trade was a 19.17% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Michael A. Hartmeier sold 20,000 shares of the stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $10.46, for a total transaction of $209,200.00. Following the completion of the transaction, the director 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 disclosure for this sale is available in the SEC filing. Corporate insiders own 0.90% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on DRH. Wells Fargo & Company boosted their price target on DiamondRock Hospitality from $11.00 to $12.00 and gave the company an “equal weight” rating in a research note on Monday, June 1st. Stifel Nicolaus set a $12.25 price objective on DiamondRock Hospitality in a research note on Thursday, June 4th. LADENBURG THALM/SH SH lifted their price objective on DiamondRock Hospitality from $13.00 to $14.00 and gave the company a “buy” rating in a report on Thursday, June 18th. Truist Financial boosted their target price on shares of DiamondRock Hospitality from $11.00 to $12.00 and gave the company a “buy” rating in a research note on Tuesday, May 26th. Finally, Barclays upped their target price on shares of DiamondRock Hospitality from $10.00 to $12.00 and gave the stock an “equal weight” rating in a report on Monday, June 1st. Three analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $11.65.

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.