Centersquare Investment Management LLC Increases Stock Position in DiamondRock Hospitality Company $DRH

Centersquare Investment Management LLC raised its position in shares of DiamondRock Hospitality Company (NYSE:DRH) by 3.2% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 7,780,988 shares of the real estate investment trust’s stock after purchasing an additional 244,013 shares during the period. Centersquare Investment Management LLC’s holdings in DiamondRock Hospitality were worth $69,718,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in DRH. AQR Capital Management LLC lifted its position in DiamondRock Hospitality by 223.2% during the first quarter. AQR Capital Management LLC now owns 65,376 shares of the real estate investment trust’s stock valued at $505,000 after buying an additional 45,146 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in DiamondRock Hospitality by 5.1% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 123,672 shares of the real estate investment trust’s stock valued at $955,000 after buying an additional 5,971 shares during the period. United Services Automobile Association purchased a new position in DiamondRock Hospitality during the first quarter valued at $91,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in DiamondRock Hospitality by 3.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,327,841 shares of the real estate investment trust’s stock valued at $10,251,000 after buying an additional 48,558 shares during the period. Finally, Creative Planning purchased a new position in DiamondRock Hospitality during the second quarter valued at $99,000.

Insider Buying and Selling

In related news, Director Michael A. Hartmeier sold 20,000 shares of DiamondRock Hospitality stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $10.46, for a total value of $209,200.00. Following the completion of the sale, the director directly owned 95,354 shares in the company, valued at approximately $997,402.84. This trade represents a 17.34% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on DRH. Citigroup raised their price objective on DiamondRock Hospitality from $9.50 to $11.00 and gave the company a “neutral” rating in a research report on Wednesday, May 6th. Barclays raised their price objective on DiamondRock Hospitality from $10.00 to $12.00 and gave the company an “equal weight” rating in a research report on Monday, June 1st. Stifel Nicolaus set a $12.25 price objective on DiamondRock Hospitality in a research report on Thursday, June 4th. 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 research report on Tuesday, May 12th. Finally, Truist Financial lifted 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. Three research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $11.43.

DiamondRock Hospitality Price Performance

NYSE DRH opened at $11.84 on Friday. DiamondRock Hospitality Company has a one year low of $7.44 and a one year high of $11.93. The stock has a 50-day moving average of $10.56 and a 200 day moving average of $9.80. The company has a market capitalization of $2.42 billion, a price-to-earnings ratio of 47.36, a PEG ratio of 4.50 and a beta of 1.00. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.64 and a current ratio of 1.64.

DiamondRock Hospitality Dividend Announcement

The firm 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 $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 3.0%. The ex-dividend date is Tuesday, June 30th. DiamondRock Hospitality’s dividend payout ratio (DPR) is presently 76.60%.

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.