Hsbc Holdings PLC Raises Holdings in DiamondRock Hospitality Company $DRH

Hsbc Holdings PLC increased its stake in shares of DiamondRock Hospitality Company (NYSE:DRH) by 10.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 542,940 shares of the real estate investment trust’s stock after acquiring an additional 52,392 shares during the quarter. Hsbc Holdings PLC owned approximately 0.27% of DiamondRock Hospitality worth $4,881,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. Allworth Financial LP boosted its stake in shares of DiamondRock Hospitality by 146.0% during the fourth quarter. Allworth Financial LP now owns 2,859 shares of the real estate investment trust’s stock valued at $26,000 after purchasing an additional 1,697 shares during the period. First Horizon Corp boosted its position in DiamondRock Hospitality by 54.9% during the 4th quarter. First Horizon Corp now owns 3,214 shares of the real estate investment trust’s stock valued at $29,000 after buying an additional 1,139 shares during the period. EverSource Wealth Advisors LLC grew its holdings in DiamondRock Hospitality by 77.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 3,436 shares of the real estate investment trust’s stock worth $31,000 after acquiring an additional 1,498 shares during the last quarter. Danske Bank A S bought a new stake in DiamondRock Hospitality in the 3rd quarter worth $33,000. Finally, Global Retirement Partners LLC increased its position in shares of DiamondRock Hospitality by 12,114.7% in the fourth quarter. Global Retirement Partners LLC now owns 4,153 shares of the real estate investment trust’s stock valued at $37,000 after acquiring an additional 4,119 shares during the period.

DiamondRock Hospitality Price Performance

DRH opened at $11.85 on Friday. 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 company has a market cap of $2.42 billion, a price-to-earnings ratio of 47.40, a price-to-earnings-growth ratio of 4.50 and a beta of 0.98. The stock has a fifty day simple moving average of $11.38 and a two-hundred day simple moving average of $10.23. DiamondRock Hospitality Company has a 12-month low of $7.45 and a 12-month high of $12.54.

DiamondRock Hospitality Announces Dividend

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

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on DRH shares. Barclays upped their price objective on shares of DiamondRock Hospitality from $10.00 to $12.00 and gave the company an “equal weight” rating in a research note on Monday, June 1st. Citigroup boosted their price target on DiamondRock Hospitality from $9.50 to $11.00 and gave the company a “neutral” rating in a report on Wednesday, May 6th. Morgan Stanley upped their price target on DiamondRock Hospitality from $9.50 to $9.60 and gave the company an “equal weight” rating in a research report on Tuesday, May 12th. Stifel Nicolaus set a $12.25 price objective on DiamondRock Hospitality in a report on Thursday, June 4th. Finally, Wells Fargo & Company lifted their price objective on DiamondRock Hospitality from $11.00 to $12.00 and gave the stock an “equal weight” rating in a research report on Monday, June 1st. Three research 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, DiamondRock Hospitality presently has a consensus rating of “Hold” and an average target price of $11.65.

Insider Activity

In other DiamondRock Hospitality news, Director Kathleen Merrill sold 20,000 shares of the firm’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 transaction, the director owned 84,335 shares of the company’s stock, valued at approximately $1,001,899.80. This trade represents a 19.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Michael A. Hartmeier sold 20,000 shares of the firm’s 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 transaction, the director directly owned 95,354 shares of the company’s stock, valued at $997,402.84. This represents a 17.34% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.90% of the stock is owned by company insiders.

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.