DiamondRock Hospitality (NYSE:DRH) Shares Sold by Wolverine Asset Management LLC

Wolverine Asset Management LLC reduced its position in DiamondRock Hospitality (NYSE:DRH) by 45.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 90,047 shares of the real estate investment trust’s stock after selling 74,983 shares during the quarter. Wolverine Asset Management LLC’s holdings in DiamondRock Hospitality were worth $786,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of DRH. Evergreen Capital Management LLC boosted its position in DiamondRock Hospitality by 14.4% during the 2nd quarter. Evergreen Capital Management LLC now owns 14,372 shares of the real estate investment trust’s stock valued at $122,000 after purchasing an additional 1,810 shares during the period. Louisiana State Employees Retirement System grew its holdings in DiamondRock Hospitality by 1.8% during the second quarter. Louisiana State Employees Retirement System now owns 105,700 shares of the real estate investment trust’s stock worth $893,000 after acquiring an additional 1,900 shares during the period. Van ECK Associates Corp lifted its stake in DiamondRock Hospitality by 6.7% during the second quarter. Van ECK Associates Corp now owns 32,191 shares of the real estate investment trust’s stock valued at $272,000 after purchasing an additional 2,028 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in DiamondRock Hospitality by 35.1% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,153 shares of the real estate investment trust’s stock worth $73,000 after buying an additional 2,116 shares in the last quarter. Finally, ProShare Advisors LLC lifted its position in shares of DiamondRock Hospitality by 7.4% during the 1st quarter. ProShare Advisors LLC now owns 42,394 shares of the real estate investment trust’s stock valued at $407,000 after acquiring an additional 2,916 shares during the last quarter.

DiamondRock Hospitality Stock Performance

NYSE:DRH opened at $9.16 on Wednesday. DiamondRock Hospitality has a 52-week low of $7.74 and a 52-week high of $9.99. The company has a market cap of $1.90 billion, a price-to-earnings ratio of 32.71, a PEG ratio of 5.43 and a beta of 1.60. The firm’s 50-day moving average is $8.80 and its 200-day moving average is $8.54. The company has a debt-to-equity ratio of 0.71, a quick ratio of 2.03 and a current ratio of 2.03.

DiamondRock Hospitality Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Monday, September 30th were given a dividend of $0.03 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.12 annualized dividend and a dividend yield of 1.31%. DiamondRock Hospitality’s dividend payout ratio (DPR) is currently 42.86%.

Wall Street Analyst Weigh In

Several brokerages have commented on DRH. Wells Fargo & Company decreased their target price on shares of DiamondRock Hospitality from $9.50 to $9.00 and set an “equal weight” rating for the company in a report on Friday, September 13th. StockNews.com upgraded DiamondRock Hospitality from a “sell” rating to a “hold” rating in a report on Tuesday. Compass Point upgraded DiamondRock Hospitality from a “neutral” rating to a “buy” rating and set a $10.00 target price on the stock in a research note on Monday, August 5th. Finally, Truist Financial cut their price objective on shares of DiamondRock Hospitality from $11.00 to $10.00 and set a “hold” rating on the stock in a research report on Wednesday, September 4th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $10.10.

About DiamondRock Hospitality

DiamondRock Hospitality Company is a self-advised real estate investment trust (REIT) that is an owner of a leading portfolio of geographically diversified hotels concentrated in leisure destinations and top gateway markets. The Company currently owns 36 premium quality hotels with over 9,700 rooms. The Company has strategically positioned its portfolio to be operated both under leading global brand families as well as independent boutique hotels in the lifestyle segment.