Pzena Investment Management LLC Acquires 317,901 Shares of DiamondRock Hospitality (NYSE:DRH)

Pzena Investment Management LLC raised its holdings in DiamondRock Hospitality (NYSE:DRH) by 3.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,153,018 shares of the real estate investment trust’s stock after acquiring an additional 317,901 shares during the period. Pzena Investment Management LLC’s holdings in DiamondRock Hospitality were worth $79,906,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of DRH. Segall Bryant & Hamill LLC acquired a new position in DiamondRock Hospitality during the 3rd quarter worth approximately $264,000. Metis Global Partners LLC lifted its stake in shares of DiamondRock Hospitality by 29.6% in the 3rd quarter. Metis Global Partners LLC now owns 21,346 shares of the real estate investment trust’s stock valued at $186,000 after acquiring an additional 4,878 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in shares of DiamondRock Hospitality by 0.9% during the 3rd quarter. Victory Capital Management Inc. now owns 2,642,787 shares of the real estate investment trust’s stock valued at $23,072,000 after acquiring an additional 24,249 shares in the last quarter. GSA Capital Partners LLP bought a new stake in DiamondRock Hospitality during the 3rd quarter worth $126,000. Finally, State of New Jersey Common Pension Fund D increased its holdings in DiamondRock Hospitality by 3.7% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 229,847 shares of the real estate investment trust’s stock worth $2,007,000 after purchasing an additional 8,173 shares in the last quarter.

DiamondRock Hospitality Stock Up 0.3 %

NYSE:DRH traded up $0.03 during trading hours on Wednesday, reaching $8.98. The company had a trading volume of 86,464 shares, compared to its average volume of 1,858,325. The business’s 50-day simple moving average is $8.88 and its two-hundred day simple moving average is $8.54. DiamondRock Hospitality has a twelve month low of $7.74 and a twelve month high of $9.99. The firm has a market cap of $1.86 billion, a price-to-earnings ratio of 32.00, a P/E/G ratio of 5.16 and a beta of 1.60. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.66.

DiamondRock Hospitality Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Monday, September 30th were paid a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 1.34%. The ex-dividend date of this dividend was Monday, September 30th. DiamondRock Hospitality’s dividend payout ratio (DPR) is currently 42.86%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on DRH. StockNews.com upgraded shares of DiamondRock Hospitality from a “sell” rating to a “hold” rating in a report on Tuesday, November 12th. Truist Financial decreased their price objective on DiamondRock Hospitality from $11.00 to $10.00 and set a “hold” rating for the company in a report on Wednesday, September 4th. Wells Fargo & Company lowered their price objective on DiamondRock Hospitality from $9.50 to $9.00 and set an “equal weight” rating for the company in a research report on Friday, September 13th. Evercore ISI cut DiamondRock Hospitality from an “outperform” rating to an “inline” rating and set a $10.50 target price on the stock. in a report on Friday, November 15th. Finally, Compass Point upgraded shares of DiamondRock Hospitality from a “neutral” rating to a “buy” rating and set a $10.00 target price on the stock in a report on Monday, August 5th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $10.17.

DiamondRock Hospitality Profile

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.