Wolverine Asset Management LLC Has $786,000 Stock Position in DiamondRock Hospitality (NYSE:DRH)

Wolverine Asset Management LLC lowered its position in DiamondRock Hospitality (NYSE:DRH - Free Report) by 45.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 90,047 shares of the real estate investment trust's stock after selling 74,983 shares during the period. Wolverine Asset Management LLC's holdings in DiamondRock Hospitality were worth $786,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Centersquare Investment Management LLC increased its holdings in DiamondRock Hospitality by 40.3% during the 1st quarter. Centersquare Investment Management LLC now owns 6,303,698 shares of the real estate investment trust's stock valued at $56,103,000 after purchasing an additional 1,810,788 shares in the last quarter. Millennium Management LLC acquired a new stake in shares of DiamondRock Hospitality in the second quarter valued at $15,118,000. Thrivent Financial for Lutherans increased its stake in shares of DiamondRock Hospitality by 161.7% in the second quarter. Thrivent Financial for Lutherans now owns 475,900 shares of the real estate investment trust's stock valued at $4,021,000 after buying an additional 294,044 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of DiamondRock Hospitality in the second quarter valued at about $1,271,000. Finally, Dimensional Fund Advisors LP lifted its position in DiamondRock Hospitality by 4.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,102,363 shares of the real estate investment trust's stock worth $26,214,000 after buying an additional 120,228 shares in the last quarter.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Compass Point raised shares of DiamondRock Hospitality from a "neutral" rating to a "buy" rating and set a $10.00 target price for the company in a research note on Monday, August 5th. StockNews.com raised DiamondRock Hospitality from a "sell" rating to a "hold" rating in a report on Tuesday. Wells Fargo & Company decreased their price objective on DiamondRock Hospitality from $9.50 to $9.00 and set an "equal weight" rating on the stock in a research report on Friday, September 13th. Finally, Truist Financial dropped their target price on DiamondRock Hospitality from $11.00 to $10.00 and set a "hold" rating for the company in a research report on Wednesday, September 4th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, DiamondRock Hospitality presently has a consensus rating of "Moderate Buy" and an average target price of $10.10.

DiamondRock Hospitality Trading Up 1.0 %

DRH traded up $0.09 during trading on Wednesday, reaching $9.25. 1,462,105 shares of the company's stock were exchanged, compared to its average volume of 1,875,325. The company's fifty day moving average price is $8.81 and its 200-day moving average price is $8.54. The company has a debt-to-equity ratio of 0.66, a quick ratio of 2.03 and a current ratio of 1.73. The firm has a market capitalization of $1.92 billion, a PE ratio of 33.04, a P/E/G ratio of 5.33 and a beta of 1.60. DiamondRock Hospitality has a fifty-two week low of $7.74 and a fifty-two week high of $9.99.

DiamondRock Hospitality Dividend Announcement

The business 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. The ex-dividend date was Monday, September 30th. This represents a $0.12 dividend on an annualized basis and a yield of 1.30%. DiamondRock Hospitality's dividend payout ratio is presently 42.86%.

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.