DiamondRock Hospitality (NYSE:DRH) Shares Sold by Nomura Asset Management Co. Ltd.

Nomura Asset Management Co. Ltd. reduced its position in DiamondRock Hospitality (NYSE:DRH) by 0.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 260,400 shares of the real estate investment trust’s stock after selling 1,300 shares during the period. Nomura Asset Management Co. Ltd. owned about 0.13% of DiamondRock Hospitality worth $2,273,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in DRH. Wellington Management Group LLP raised its position in shares of DiamondRock Hospitality by 15.6% in the third quarter. Wellington Management Group LLP now owns 4,925,093 shares of the real estate investment trust’s stock worth $42,996,000 after acquiring an additional 663,529 shares during the period. MQS Management LLC acquired a new position in DiamondRock Hospitality in the 2nd quarter worth about $480,000. Holocene Advisors LP purchased a new position in DiamondRock Hospitality during the third quarter worth approximately $568,000. Millennium Management LLC acquired a new stake in DiamondRock Hospitality in the second quarter valued at approximately $15,118,000. Finally, Systematic Financial Management LP increased its position in shares of DiamondRock Hospitality by 8.9% in the third quarter. Systematic Financial Management LP now owns 1,599,730 shares of the real estate investment trust’s stock valued at $13,966,000 after buying an additional 130,507 shares in the last quarter.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Stifel Nicolaus lowered DiamondRock Hospitality from a “buy” rating to a “hold” rating and decreased their target price for the company from $10.75 to $10.25 in a research report on Friday, November 22nd. Evercore ISI lowered shares of DiamondRock Hospitality from an “outperform” rating to an “inline” rating and set a $10.50 target price on the stock. in a research report on Friday, November 15th. Truist Financial reduced their price target on shares of DiamondRock Hospitality from $11.00 to $10.00 and set a “hold” rating for the company in a research report on Wednesday, September 4th. StockNews.com upgraded DiamondRock Hospitality from a “sell” rating to a “hold” rating in a report on Tuesday, November 12th. Finally, Wells Fargo & Company increased their target price on DiamondRock Hospitality from $10.00 to $10.50 and gave the company an “equal weight” rating in a report on Monday, December 9th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $10.38.

DiamondRock Hospitality Stock Down 0.4 %

Shares of NYSE DRH opened at $9.65 on Friday. The stock has a market cap of $2.00 billion, a PE ratio of 34.46, a P/E/G ratio of 5.65 and a beta of 1.60. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.66. DiamondRock Hospitality has a 12-month low of $7.74 and a 12-month high of $10.00. The company has a 50-day moving average of $9.11 and a 200 day moving average of $8.66.

DiamondRock Hospitality Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 14th. Stockholders of record on Tuesday, December 31st will be given a $0.32 dividend. The ex-dividend date is Tuesday, December 31st. This is a positive change from DiamondRock Hospitality’s previous quarterly dividend of $0.03. This represents a $1.28 dividend on an annualized basis and a dividend yield of 13.26%. DiamondRock Hospitality’s dividend payout ratio is 42.86%.

DiamondRock Hospitality Company 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.