Segall Bryant & Hamill LLC Makes New Investment in DiamondRock Hospitality (NYSE:DRH)

Segall Bryant & Hamill LLC acquired a new position in DiamondRock Hospitality (NYSE:DRH) in the 3rd quarter, Holdings Channel reports. The firm acquired 30,185 shares of the real estate investment trust’s stock, valued at approximately $264,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. MQS Management LLC bought a new stake in DiamondRock Hospitality in the 2nd quarter worth approximately $480,000. Millennium Management LLC bought a new stake in DiamondRock Hospitality in the 2nd quarter worth approximately $15,118,000. CANADA LIFE ASSURANCE Co grew its position in DiamondRock Hospitality by 5.2% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 439,584 shares of the real estate investment trust’s stock worth $4,216,000 after purchasing an additional 21,682 shares during the period. Louisiana State Employees Retirement System grew its position in DiamondRock Hospitality by 1.8% in the 2nd quarter. Louisiana State Employees Retirement System now owns 105,700 shares of the real estate investment trust’s stock worth $893,000 after purchasing an additional 1,900 shares during the period. Finally, Thrivent Financial for Lutherans grew its position in DiamondRock Hospitality by 161.7% in the 2nd quarter. Thrivent Financial for Lutherans now owns 475,900 shares of the real estate investment trust’s stock worth $4,021,000 after purchasing an additional 294,044 shares during the period.

DiamondRock Hospitality Trading Up 0.2 %

NYSE:DRH opened at $9.16 on Monday. DiamondRock Hospitality has a 52 week low of $7.74 and a 52 week high of $9.99. The firm has a 50 day moving average of $8.92 and a 200 day moving average of $8.55. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.66. The stock has a market capitalization of $1.90 billion, a price-to-earnings ratio of 32.71, a PEG ratio of 5.54 and a beta of 1.60.

DiamondRock Hospitality Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Monday, September 30th were paid a dividend of $0.03 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.12 dividend on an annualized basis and a yield of 1.31%. DiamondRock Hospitality’s payout ratio is 42.86%.

Analysts Set New Price Targets

DRH has been the topic of several analyst reports. Wells Fargo & Company dropped their price target on shares of 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. Stifel Nicolaus cut shares of DiamondRock Hospitality from a “buy” rating to a “hold” rating and dropped their price target for the stock from $10.75 to $10.25 in a research note on Friday. Truist Financial dropped their price target on shares of DiamondRock Hospitality from $11.00 to $10.00 and set a “hold” rating on the stock in a research note on Wednesday, September 4th. StockNews.com upgraded shares of DiamondRock Hospitality from a “sell” rating to a “hold” rating in a research note on Tuesday, November 12th. Finally, Evercore ISI cut shares of DiamondRock Hospitality from an “outperform” rating to an “inline” rating and set a $10.50 price target on the stock. in a research note on Friday, November 15th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $10.13.

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.