Wolverine Asset Management LLC Takes $516,000 Position in DiamondRock Hospitality (NYSE:DRH)

Wolverine Asset Management LLC purchased a new position in shares of DiamondRock Hospitality (NYSE:DRH) in the fourth quarter, according to its most recent filing with the SEC. The firm purchased 54,949 shares of the real estate investment trust’s stock, valued at approximately $516,000.

A number of other large investors have also recently bought and sold shares of the business. Pzena Investment Management LLC grew its holdings in DiamondRock Hospitality by 9.1% during the 3rd quarter. Pzena Investment Management LLC now owns 9,720,155 shares of the real estate investment trust’s stock worth $78,053,000 after acquiring an additional 810,972 shares during the period. Invesco Ltd. grew its stake in shares of DiamondRock Hospitality by 3.1% in the 3rd quarter. Invesco Ltd. now owns 5,455,648 shares of the real estate investment trust’s stock valued at $43,809,000 after buying an additional 165,142 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of DiamondRock Hospitality by 4.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,326,316 shares of the real estate investment trust’s stock valued at $34,740,000 after buying an additional 188,010 shares during the period. Northern Trust Corp grew its stake in shares of DiamondRock Hospitality by 2.3% in the 3rd quarter. Northern Trust Corp now owns 3,291,311 shares of the real estate investment trust’s stock valued at $26,429,000 after buying an additional 73,745 shares during the period. Finally, Great Lakes Advisors LLC grew its stake in shares of DiamondRock Hospitality by 9.7% in the 3rd quarter. Great Lakes Advisors LLC now owns 734,391 shares of the real estate investment trust’s stock valued at $5,897,000 after buying an additional 64,852 shares during the period.

Analysts Set New Price Targets

Several brokerages recently weighed in on DRH. Truist Financial raised their price target on shares of DiamondRock Hospitality from $10.00 to $11.00 and gave the company a “hold” rating in a research report on Thursday, March 14th. Stifel Nicolaus raised their price target on shares of DiamondRock Hospitality from $10.00 to $10.50 and gave the company a “buy” rating in a research report on Friday, February 23rd. StockNews.com cut shares of DiamondRock Hospitality from a “hold” rating to a “sell” rating in a research report on Saturday, February 3rd. Finally, Wolfe Research began coverage on shares of DiamondRock Hospitality in a research report on Wednesday, January 10th. They issued an “outperform” rating and a $11.00 price target on the stock. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, DiamondRock Hospitality presently has an average rating of “Hold” and a consensus price target of $10.30.

DiamondRock Hospitality Trading Down 0.3 %

NYSE:DRH opened at $9.06 on Friday. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 0.71. The stock has a market capitalization of $1.91 billion, a PE ratio of 25.15 and a beta of 1.60. The firm’s 50 day moving average is $9.36 and its 200 day moving average is $8.97. DiamondRock Hospitality has a 12 month low of $7.33 and a 12 month high of $9.99.

DiamondRock Hospitality (NYSE:DRH) last posted its quarterly earnings results 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). The company had revenue of $263.50 million during the quarter, compared to the consensus estimate of $261.45 million. DiamondRock Hospitality had a return on equity of 5.29% and a net margin of 8.03%. The company’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same period last year, the firm posted $0.23 EPS. Sell-side analysts expect that DiamondRock Hospitality will post 0.96 earnings per share for the current year.

DiamondRock Hospitality Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Friday, March 29th were paid a $0.03 dividend. The ex-dividend date of this dividend 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 33.33%.

DiamondRock Hospitality Profile

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.