DiamondRock Hospitality (NYSE:DRH) Shares Sold by Bank of Montreal Can

Bank of Montreal Can reduced its position in DiamondRock Hospitality (NYSE:DRH - Free Report) by 73.1% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 43,203 shares of the real estate investment trust's stock after selling 117,383 shares during the period. Bank of Montreal Can's holdings in DiamondRock Hospitality were worth $390,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Barclays PLC increased its position in shares of DiamondRock Hospitality by 37.6% in the third quarter. Barclays PLC now owns 368,616 shares of the real estate investment trust's stock worth $3,219,000 after acquiring an additional 100,805 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of DiamondRock Hospitality by 0.5% during the third quarter. Geode Capital Management LLC now owns 5,350,283 shares of the real estate investment trust's stock valued at $46,716,000 after purchasing an additional 28,391 shares in the last quarter. KBC Group NV increased its stake in DiamondRock Hospitality by 55.9% during the 4th quarter. KBC Group NV now owns 10,436 shares of the real estate investment trust's stock valued at $94,000 after buying an additional 3,744 shares during the period. Vert Asset Management LLC lifted its holdings in shares of DiamondRock Hospitality by 2.1% in the fourth quarter. Vert Asset Management LLC now owns 82,570 shares of the real estate investment trust's stock valued at $746,000 after buying an additional 1,729 shares during the period. Finally, abrdn plc lifted its stake in DiamondRock Hospitality by 53.5% during the fourth quarter. abrdn plc now owns 69,071 shares of the real estate investment trust's stock valued at $633,000 after purchasing an additional 24,070 shares during the last quarter.

DiamondRock Hospitality Trading Up 0.6 %

Shares of NYSE DRH opened at $7.00 on Wednesday. The company's 50 day simple moving average is $7.73 and its 200 day simple moving average is $8.58. The firm has a market capitalization of $1.46 billion, a P/E ratio of 25.00, a P/E/G ratio of 2.06 and a beta of 1.38. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.73 and a quick ratio of 1.73. DiamondRock Hospitality has a fifty-two week low of $6.19 and a fifty-two week high of $10.00.

DiamondRock Hospitality Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Friday, March 28th were issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 4.57%. This is a positive change from DiamondRock Hospitality's previous quarterly dividend of $0.03. The ex-dividend date was Friday, March 28th. DiamondRock Hospitality's dividend payout ratio (DPR) is presently 188.24%.

Analyst Upgrades and Downgrades

DRH has been the subject of a number of recent analyst reports. Wells Fargo & Company decreased their price objective on shares of DiamondRock Hospitality from $10.50 to $9.50 and set an "equal weight" rating for the company in a research note on Tuesday, February 18th. Stifel Nicolaus decreased their target price on DiamondRock Hospitality from $9.75 to $8.00 and set a "hold" rating on the stock in a research report on Wednesday, April 16th. Finally, Morgan Stanley lowered their price target on DiamondRock Hospitality from $9.00 to $7.00 and set an "equal weight" rating on the stock in a research report on Tuesday. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $9.17.

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.

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