Y Intercept Hong Kong Ltd Reduces Stock Holdings in DiamondRock Hospitality Company $DRH

Y Intercept Hong Kong Ltd reduced its position in DiamondRock Hospitality Company (NYSE:DRH) by 59.4% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 103,194 shares of the real estate investment trust’s stock after selling 151,079 shares during the quarter. Y Intercept Hong Kong Ltd owned approximately 0.05% of DiamondRock Hospitality worth $967,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. State Street Corp raised its stake in DiamondRock Hospitality by 0.8% in the 2nd quarter. State Street Corp now owns 12,587,578 shares of the real estate investment trust’s stock valued at $97,400,000 after acquiring an additional 93,929 shares during the period. Bank of America Corp DE increased its stake in shares of DiamondRock Hospitality by 17.5% in the second quarter. Bank of America Corp DE now owns 9,231,991 shares of the real estate investment trust’s stock worth $70,717,000 after purchasing an additional 1,377,897 shares in the last quarter. Alyeska Investment Group L.P. increased its stake in shares of DiamondRock Hospitality by 5.5% in the third quarter. Alyeska Investment Group L.P. now owns 9,152,343 shares of the real estate investment trust’s stock worth $72,853,000 after purchasing an additional 475,611 shares in the last quarter. Centersquare Investment Management LLC raised its position in shares of DiamondRock Hospitality by 3.2% in the fourth quarter. Centersquare Investment Management LLC now owns 7,780,988 shares of the real estate investment trust’s stock valued at $69,718,000 after purchasing an additional 244,013 shares during the period. Finally, Cohen & Steers Inc. bought a new stake in shares of DiamondRock Hospitality in the fourth quarter valued at approximately $59,231,000.

Insider Activity at DiamondRock Hospitality

In other news, Director Michael A. Hartmeier sold 20,000 shares of the business’s stock in a transaction 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 directly owned 95,354 shares in the company, valued at $997,402.84. The trade was a 17.34% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Kathleen Merrill sold 20,000 shares of the company’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $11.88, for a total transaction of $237,600.00. Following the completion of the transaction, 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 SEC filing for this sale provides additional information. Corporate insiders own 0.90% of the company’s stock.

DiamondRock Hospitality Price Performance

Shares of DiamondRock Hospitality stock traded up $0.03 on Friday, reaching $11.88. The stock had a trading volume of 1,320,099 shares, compared to its average volume of 2,320,596. The business’s 50 day moving average is $11.42 and its two-hundred day moving average is $10.24. The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 0.70. DiamondRock Hospitality Company has a 1 year low of $7.45 and a 1 year high of $12.54. The company has a market cap of $2.43 billion, a P/E ratio of 47.52, a price-to-earnings-growth ratio of 4.50 and a beta of 0.98.

DiamondRock Hospitality Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 14th. Shareholders of record on Tuesday, June 30th will be paid a $0.09 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $0.36 annualized dividend and a yield of 3.0%. DiamondRock Hospitality’s dividend payout ratio is currently 76.60%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on DRH. Barclays upped their price target 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 target price on shares of DiamondRock Hospitality from $9.50 to $11.00 and gave the company a “neutral” rating in a report on Wednesday, May 6th. Truist Financial increased their target price on DiamondRock Hospitality from $11.00 to $12.00 and gave the stock a “buy” rating in a research report on Tuesday, May 26th. LADENBURG THALM/SH SH raised their price target on DiamondRock Hospitality from $13.00 to $14.00 and gave the stock a “buy” rating in a report on Thursday, June 18th. Finally, Stifel Nicolaus set a $12.25 price target on DiamondRock Hospitality in a research report on Thursday, June 4th. Three analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, DiamondRock Hospitality presently has an average rating of “Hold” and an average target price of $11.65.

About DiamondRock Hospitality

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.