DiamondRock Hospitality (NYSE:DRH) Director Sells $237,600.00 in Stock

DiamondRock Hospitality Company (NYSE:DRH) Director Kathleen Merrill sold 20,000 shares of the firm’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $11.88, for a total value of $237,600.00. Following the completion of the sale, the director directly owned 84,335 shares in the company, valued at approximately $1,001,899.80. The trade was a 19.17% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

DiamondRock Hospitality Stock Performance

NYSE:DRH opened at $11.94 on Tuesday. The business’s 50-day moving average price is $10.66 and its two-hundred day moving average price is $9.84. DiamondRock Hospitality Company has a twelve month low of $7.45 and a twelve month high of $12.03. The stock has a market cap of $2.44 billion, a P/E ratio of 47.76, a PEG ratio of 4.50 and a beta of 1.00. 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 Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 14th. Investors of record on Tuesday, June 30th will be issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend is Tuesday, June 30th. DiamondRock Hospitality’s dividend payout ratio (DPR) is currently 76.60%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. Morgan Stanley raised their price objective on DiamondRock Hospitality from $9.50 to $9.60 and gave the company an “equal weight” rating in a report on Tuesday, May 12th. Truist Financial raised 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. Citigroup raised their price target on DiamondRock Hospitality from $9.50 to $11.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 6th. Wells Fargo & Company raised their price target 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. Finally, Stifel Nicolaus set a $12.25 price target on DiamondRock Hospitality in a research report on Thursday, June 4th. Three investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $11.43.

Hedge Funds Weigh In On DiamondRock Hospitality

Several institutional investors and hedge funds have recently bought and sold shares of DRH. Allworth Financial LP grew its position in DiamondRock Hospitality by 146.0% during the 4th quarter. Allworth Financial LP now owns 2,859 shares of the real estate investment trust’s stock worth $26,000 after acquiring an additional 1,697 shares during the last quarter. First Horizon Corp grew its position in shares of DiamondRock Hospitality by 54.9% in the 4th quarter. First Horizon Corp now owns 3,214 shares of the real estate investment trust’s stock worth $29,000 after buying an additional 1,139 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in shares of 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 buying an additional 1,498 shares during the last quarter. Danske Bank A S bought a new stake in shares of DiamondRock Hospitality in the 3rd quarter worth approximately $33,000. Finally, Global Retirement Partners LLC grew its position in shares of DiamondRock Hospitality by 12,114.7% in the 4th quarter. Global Retirement Partners LLC now owns 4,153 shares of the real estate investment trust’s stock worth $37,000 after buying an additional 4,119 shares during the last quarter.

DiamondRock Hospitality Company 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.