Healthcare of Ontario Pension Plan Trust Fund Sells 120,910 Shares of DiamondRock Hospitality Company $DRH

Healthcare of Ontario Pension Plan Trust Fund cut its holdings in shares of DiamondRock Hospitality Company (NYSE:DRH) by 5.3% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,171,450 shares of the real estate investment trust’s stock after selling 120,910 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund owned 1.06% of DiamondRock Hospitality worth $20,346,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Arrowstreet Capital Limited Partnership grew its holdings in shares of DiamondRock Hospitality by 4.0% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,412,052 shares of the real estate investment trust’s stock valued at $22,601,000 after purchasing an additional 91,672 shares during the last quarter. Sei Investments Co. raised its position in DiamondRock Hospitality by 43.5% in the 1st quarter. Sei Investments Co. now owns 192,171 shares of the real estate investment trust’s stock worth $1,801,000 after purchasing an additional 58,224 shares during the period. State of Wyoming lifted its stake in DiamondRock Hospitality by 256.2% in the first quarter. State of Wyoming now owns 87,839 shares of the real estate investment trust’s stock worth $823,000 after purchasing an additional 63,181 shares during the last quarter. Summit Global Investments bought a new stake in DiamondRock Hospitality in the first quarter worth $590,000. Finally, Dimensional Fund Advisors LP boosted its position in DiamondRock Hospitality by 1.3% during the first quarter. Dimensional Fund Advisors LP now owns 2,972,171 shares of the real estate investment trust’s stock valued at $27,850,000 after buying an additional 37,482 shares during the period.

DiamondRock Hospitality Price Performance

Shares of DiamondRock Hospitality stock opened at $12.91 on Tuesday. The company’s fifty day simple moving average is $11.86 and its two-hundred day simple moving average is $10.51. DiamondRock Hospitality Company has a 12-month low of $7.45 and a 12-month high of $13.05. The firm has a market cap of $2.64 billion, a PE ratio of 51.64, a price-to-earnings-growth ratio of 4.50 and a beta of 0.98. 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 firm also recently announced a quarterly dividend, which was paid on Tuesday, July 14th. Investors of record on Tuesday, June 30th were paid a $0.09 dividend. The ex-dividend date of this dividend 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%.

Insider Activity

In related news, Director Michael A. Hartmeier sold 20,000 shares of the firm’s 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 sale, the director directly owned 95,354 shares of the company’s stock, valued at $997,402.84. This trade represents a 17.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Kathleen Merrill sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $11.88, for a total value of $237,600.00. Following the transaction, the director directly owned 84,335 shares of the company’s stock, valued at $1,001,899.80. The trade was a 19.17% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.90% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on DRH shares. Wells Fargo & Company raised their price objective on DiamondRock Hospitality from $12.00 to $13.00 and gave the company an “equal weight” rating in a research note on Thursday, July 23rd. LADENBURG THALM/SH SH increased their target price on DiamondRock Hospitality from $13.00 to $14.00 and gave the company a “buy” rating in a report on Thursday, June 18th. Barclays increased their target price on DiamondRock Hospitality from $10.00 to $12.00 and gave the company an “equal weight” rating in a report on Monday, June 1st. 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 note on Tuesday, May 26th. Finally, Citigroup lifted their price target on DiamondRock Hospitality from $11.00 to $13.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 22nd. Four investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, DiamondRock Hospitality presently has a consensus rating of “Hold” and an average price target of $12.12.

DiamondRock Hospitality 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.