DiamondRock Hospitality (NYSE:DRH) Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. decreased its holdings in DiamondRock Hospitality (NYSE:DRH) by 0.9% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 232,917 shares of the real estate investment trust’s stock after selling 2,057 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in DiamondRock Hospitality were worth $2,033,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of DRH. Quarry LP lifted its stake in shares of DiamondRock Hospitality by 2,093.9% in the second quarter. Quarry LP now owns 3,949 shares of the real estate investment trust’s stock worth $33,000 after acquiring an additional 3,769 shares in the last quarter. Headlands Technologies LLC acquired a new position in shares of DiamondRock Hospitality in the second quarter worth about $42,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of DiamondRock Hospitality by 35.1% in 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 acquiring an additional 2,116 shares in the last quarter. Harbor Capital Advisors Inc. acquired a new position in shares of DiamondRock Hospitality in the third quarter worth about $74,000. Finally, Choreo LLC acquired a new stake in DiamondRock Hospitality during the second quarter valued at approximately $89,000.

Analyst Upgrades and Downgrades

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

DiamondRock Hospitality Stock Up 0.2 %

NYSE:DRH opened at $8.88 on Tuesday. The firm has a market capitalization of $1.84 billion, a PE ratio of 31.64, a price-to-earnings-growth ratio of 5.16 and a beta of 1.60. The stock has a 50 day moving average of $8.85 and a 200-day moving average of $8.54. DiamondRock Hospitality has a 52 week low of $7.74 and a 52 week high of $9.99. The company has a current ratio of 1.73, a quick ratio of 2.03 and a debt-to-equity ratio of 0.66.

DiamondRock Hospitality Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Monday, September 30th were issued a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 1.35%. The ex-dividend date was Monday, September 30th. DiamondRock Hospitality’s dividend payout ratio (DPR) is 42.86%.

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.