Commonwealth of Pennsylvania Public School Empls Retrmt SYS Sells 2,387 Shares of DiamondRock Hospitality (NYSE:DRH)

Posted by Defense World Staff on Aug 19th, 2023

Commonwealth of Pennsylvania Public School Empls Retrmt SYS decreased its position in shares of DiamondRock Hospitality (NYSE:DRH – Free Report) by 1.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 221,691 shares of the real estate investment trust’s stock after selling 2,387 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS owned 0.11% of DiamondRock Hospitality worth $1,802,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Y Intercept Hong Kong Ltd acquired a new position in shares of DiamondRock Hospitality in the 1st quarter valued at approximately $297,000. Wolverine Asset Management LLC increased its stake in DiamondRock Hospitality by 473.9% in the first quarter. Wolverine Asset Management LLC now owns 95,026 shares of the real estate investment trust’s stock valued at $773,000 after acquiring an additional 78,468 shares during the last quarter. New York Life Investment Management LLC raised its position in DiamondRock Hospitality by 8.8% during the first quarter. New York Life Investment Management LLC now owns 61,115 shares of the real estate investment trust’s stock valued at $497,000 after purchasing an additional 4,951 shares in the last quarter. Federated Hermes Inc. lifted its stake in DiamondRock Hospitality by 379.8% during the first quarter. Federated Hermes Inc. now owns 14,501 shares of the real estate investment trust’s stock worth $118,000 after purchasing an additional 11,479 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of DiamondRock Hospitality by 6.0% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 81,827 shares of the real estate investment trust’s stock valued at $665,000 after purchasing an additional 4,629 shares in the last quarter.

DiamondRock Hospitality Price Performance

Shares of DRH opened at $7.87 on Friday. The business has a 50-day simple moving average of $8.05 and a two-hundred day simple moving average of $8.27. DiamondRock Hospitality has a 12-month low of $7.14 and a 12-month high of $10.02. The stock has a market cap of $1.65 billion, a PE ratio of 20.17 and a beta of 1.64. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.72.

DiamondRock Hospitality Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 12th. Stockholders of record on Friday, June 30th were paid a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 1.53%. The ex-dividend date was Thursday, June 29th. DiamondRock Hospitality’s payout ratio is currently 30.77%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on DRH. StockNews.com assumed coverage on DiamondRock Hospitality in a report on Thursday. They set a “hold” rating for the company. Wells Fargo & Company increased their target price on shares of DiamondRock Hospitality from $9.00 to $10.00 in a report on Wednesday, July 12th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $9.90.

Check Out Our Latest Report on DiamondRock Hospitality

DiamondRock Hospitality Company Profile

(Free Report)

DiamondRock Hospitality Co is a real estate investment trust which focuses on lodging properties. It engages in the acquisition, ownership, asset management, and renovation of hotels and resorts. Its brands include Autograph Collection Hotels, Courtyard Marriott, Hilton Garden Inn, Hilton Hotels & Resorts, JW Marriott, and Kimpton Hotels & Restaurants.