Charles Schwab Investment Management Inc. Acquires 103,209 Shares of DiamondRock Hospitality (NYSE:DRH)

Charles Schwab Investment Management Inc. grew its holdings in DiamondRock Hospitality (NYSE:DRH - Free Report) by 2.4% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,475,664 shares of the real estate investment trust's stock after buying an additional 103,209 shares during the quarter. Charles Schwab Investment Management Inc. owned 2.16% of DiamondRock Hospitality worth $39,073,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Quarry LP boosted its stake in shares of DiamondRock Hospitality by 2,093.9% in the 2nd quarter. Quarry LP now owns 3,949 shares of the real estate investment trust's stock valued at $33,000 after purchasing an additional 3,769 shares during the last quarter. Headlands Technologies LLC bought a new position in DiamondRock Hospitality during the 2nd quarter worth approximately $42,000. Mirae Asset Global Investments Co. Ltd. boosted its stake in DiamondRock Hospitality by 35.1% during the 3rd 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 during the last quarter. Harbor Capital Advisors Inc. bought a new position in DiamondRock Hospitality during the 3rd quarter worth approximately $74,000. Finally, Choreo LLC bought a new position in DiamondRock Hospitality during the 2nd quarter worth approximately $89,000.

DiamondRock Hospitality Stock Performance

DRH stock traded up $0.40 during midday trading on Tuesday, reaching $9.75. 10,614,500 shares of the company were exchanged, compared to its average volume of 1,806,947. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.73 and a quick ratio of 1.73. The business has a 50-day moving average price of $8.97 and a two-hundred day moving average price of $8.58. DiamondRock Hospitality has a one year low of $7.74 and a one year high of $10.00. The firm has a market capitalization of $2.02 billion, a price-to-earnings ratio of 34.79, a price-to-earnings-growth ratio of 5.44 and a beta of 1.60.

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 $0.03 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.23%. DiamondRock Hospitality's payout ratio is presently 42.86%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on DRH. Wells Fargo & Company cut 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. StockNews.com raised shares of DiamondRock Hospitality from a "sell" rating to a "hold" rating in a research note on Tuesday, November 12th. Compass Point raised shares of DiamondRock Hospitality from a "neutral" rating to a "buy" rating and set a $10.00 price target on the stock in a research note on Monday, August 5th. Stifel Nicolaus downgraded shares of DiamondRock Hospitality from a "buy" rating to a "hold" rating and lowered their price objective for the company from $10.75 to $10.25 in a report on Friday, November 22nd. Finally, Truist Financial lowered their price objective on shares of DiamondRock Hospitality from $11.00 to $10.00 and set a "hold" rating on the stock in a report on Wednesday, September 4th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $10.13.

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.