State of Wyoming Buys 63,181 Shares of DiamondRock Hospitality Company $DRH

State of Wyoming increased its stake in shares of DiamondRock Hospitality Company (NYSE:DRH) by 256.2% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 87,839 shares of the real estate investment trust’s stock after acquiring an additional 63,181 shares during the period. State of Wyoming’s holdings in DiamondRock Hospitality were worth $823,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in DRH. Cohen & Steers Inc. acquired a new stake in DiamondRock Hospitality in the 4th quarter worth approximately $59,231,000. SG Americas Securities LLC grew its holdings in DiamondRock Hospitality by 106.1% during the first quarter. SG Americas Securities LLC now owns 4,172,671 shares of the real estate investment trust’s stock valued at $39,098,000 after purchasing an additional 2,147,881 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its position in shares of DiamondRock Hospitality by 907.2% in the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,292,360 shares of the real estate investment trust’s stock valued at $20,540,000 after purchasing an additional 2,064,760 shares during the period. Qube Research & Technologies Ltd raised its position in shares of DiamondRock Hospitality by 469.0% in the third quarter. Qube Research & Technologies Ltd now owns 2,002,863 shares of the real estate investment trust’s stock valued at $15,943,000 after purchasing an additional 1,650,871 shares during the period. Finally, Bank of America Corp DE raised its position 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 valued at $70,717,000 after purchasing an additional 1,377,897 shares during the period.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Morgan Stanley upped their price objective on shares of DiamondRock Hospitality from $9.60 to $10.00 and gave the stock an “equal weight” rating in a report on Friday, July 17th. Wells Fargo & Company lifted their target price on shares of DiamondRock Hospitality from $12.00 to $13.00 and gave the stock an “equal weight” rating in a report on Thursday. Bank of America boosted their target price on shares of DiamondRock Hospitality from $12.50 to $13.00 and gave the stock a “buy” rating in a research report on Monday. 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 report on Monday, June 1st. Finally, LADENBURG THALM/SH SH raised their price target on DiamondRock Hospitality from $13.00 to $14.00 and gave the company a “buy” rating in a research report on Thursday, June 18th. Four analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $12.12.

DiamondRock Hospitality Stock Performance

Shares of NYSE DRH opened at $12.67 on Friday. DiamondRock Hospitality Company has a 12 month low of $7.45 and a 12 month high of $13.05. The company has a market cap of $2.59 billion, a P/E ratio of 50.68, a P/E/G ratio of 4.50 and a beta of 0.98. The business’s 50 day moving average is $11.76 and its two-hundred day moving average is $10.46. 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 business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 14th. Stockholders of record on Tuesday, June 30th were paid a $0.09 dividend. The ex-dividend date was Tuesday, June 30th. This represents a $0.36 annualized dividend and a dividend yield of 2.8%. DiamondRock Hospitality’s dividend payout ratio (DPR) is presently 76.60%.

Insiders Place Their Bets

In related news, Director Kathleen Merrill sold 20,000 shares of the business’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $11.88, for a total transaction of $237,600.00. Following the transaction, the director owned 84,335 shares of the company’s stock, valued at approximately $1,001,899.80. The trade was a 19.17% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Michael A. Hartmeier sold 20,000 shares of the company’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 transaction, the director owned 95,354 shares of the company’s stock, valued at approximately $997,402.84. The trade was a 17.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.90% of the company’s stock.

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.