DiamondRock Hospitality (NYSE:DRH) Shares Bought by Bailard Inc.

Bailard Inc. boosted its stake in DiamondRock Hospitality (NYSE:DRH) by 38.2% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 70,911 shares of the real estate investment trust’s stock after buying an additional 19,600 shares during the period. Bailard Inc.’s holdings in DiamondRock Hospitality were worth $666,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. National Bank of Canada FI bought a new position in DiamondRock Hospitality in the 3rd quarter valued at about $30,000. Evergreen Capital Management LLC purchased a new stake in DiamondRock Hospitality during the third quarter valued at about $90,000. Jump Financial LLC lifted its stake in DiamondRock Hospitality by 80.8% during the third quarter. Jump Financial LLC now owns 20,500 shares of the real estate investment trust’s stock valued at $165,000 after buying an additional 9,164 shares in the last quarter. Inspire Advisors LLC purchased a new stake in DiamondRock Hospitality during the third quarter valued at about $170,000. Finally, QRG Capital Management Inc. purchased a new stake in DiamondRock Hospitality during the third quarter valued at about $196,000.

DiamondRock Hospitality Trading Down 0.3 %

NYSE:DRH opened at $9.06 on Friday. The stock’s 50 day moving average price is $9.36 and its 200 day moving average price is $8.97. DiamondRock Hospitality has a 52 week low of $7.33 and a 52 week high of $9.99. The company has a market capitalization of $1.91 billion, a P/E ratio of 25.15 and a beta of 1.60. The company has a debt-to-equity ratio of 0.71, a quick ratio of 2.00 and a current ratio of 2.00.

DiamondRock Hospitality (NYSE:DRH) last released its quarterly earnings data on Friday, February 23rd. The real estate investment trust reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.14). DiamondRock Hospitality had a return on equity of 5.29% and a net margin of 8.03%. The firm had revenue of $263.50 million during the quarter, compared to analyst estimates of $261.45 million. During the same quarter in the prior year, the company posted $0.23 EPS. The company’s quarterly revenue was up 3.3% on a year-over-year basis. On average, research analysts forecast that DiamondRock Hospitality will post 0.96 EPS for the current fiscal year.

DiamondRock Hospitality Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Friday, March 29th were issued a $0.03 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $0.12 dividend on an annualized basis and a yield of 1.33%. DiamondRock Hospitality’s dividend payout ratio is currently 33.33%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on DRH shares. StockNews.com downgraded DiamondRock Hospitality from a “hold” rating to a “sell” rating in a report on Saturday, February 3rd. Wolfe Research started coverage on DiamondRock Hospitality in a report on Wednesday, January 10th. They issued an “outperform” rating and a $11.00 target price on the stock. Stifel Nicolaus upped their target price on DiamondRock Hospitality from $10.00 to $10.50 and gave the company a “buy” rating in a report on Friday, February 23rd. Finally, Truist Financial upped their target price on DiamondRock Hospitality from $10.00 to $11.00 and gave the company a “hold” rating in a report on Thursday, March 14th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $10.30.

About DiamondRock Hospitality

DiamondRock Hospitality Company is a self-advised real estate investment trust (REIT) that is an owner of a leading portfolio of geographically diversified hotels concentrated in leisure destinations and top gateway markets. The Company currently owns 36 premium quality hotels with over 9,700 rooms. The Company has strategically positioned its portfolio to be operated both under leading global brand families as well as independent boutique hotels in the lifestyle segment.