First Trust Direct Indexing L.P. Sells 1,692 Shares of DiamondRock Hospitality (NYSE:DRH)

Posted by Defense World Staff on Sep 28th, 2023

First Trust Direct Indexing L.P. decreased its position in shares of DiamondRock Hospitality (NYSE:DRH – Free Report) by 10.3% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 14,807 shares of the real estate investment trust’s stock after selling 1,692 shares during the quarter. First Trust Direct Indexing L.P.’s holdings in DiamondRock Hospitality were worth $119,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Clear Street Markets LLC bought a new position in DiamondRock Hospitality during the fourth quarter worth about $54,000. Tower Research Capital LLC TRC boosted its holdings in DiamondRock Hospitality by 711.7% in the 1st quarter. Tower Research Capital LLC TRC now owns 7,119 shares of the real estate investment trust’s stock worth $58,000 after buying an additional 6,242 shares during the period. Advisor Partners II LLC purchased a new position in DiamondRock Hospitality in the 1st quarter valued at approximately $83,000. Mackenzie Financial Corp raised its holdings in DiamondRock Hospitality by 10.8% during the 1st quarter. Mackenzie Financial Corp now owns 13,036 shares of the real estate investment trust’s stock valued at $132,000 after acquiring an additional 1,272 shares during the period. Finally, PNC Financial Services Group Inc. lifted its position in shares of DiamondRock Hospitality by 9.4% during the first quarter. PNC Financial Services Group Inc. now owns 13,193 shares of the real estate investment trust’s stock worth $133,000 after acquiring an additional 1,130 shares in the last quarter.

DiamondRock Hospitality Stock Up 3.2 %

DRH stock opened at $7.98 on Thursday. The company’s 50 day moving average is $8.01 and its 200 day moving average is $8.03. The stock has a market cap of $1.67 billion, a price-to-earnings ratio of 20.46 and a beta of 1.65. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.72. DiamondRock Hospitality has a 1-year low of $7.14 and a 1-year high of $10.02.

DiamondRock Hospitality Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 12th. Stockholders of record on Friday, September 29th will be issued a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.50%. The ex-dividend date of this dividend is Thursday, September 28th. DiamondRock Hospitality’s payout ratio is 30.77%.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Wells Fargo & Company boosted their price objective on DiamondRock Hospitality from $9.00 to $10.00 in a research note on Wednesday, July 12th. Truist Financial lowered their price target on shares of DiamondRock Hospitality from $11.00 to $10.00 and set a “hold” rating on the stock in a report on Friday, September 15th. StockNews.com cut shares of DiamondRock Hospitality from a “hold” rating to a “sell” rating in a research note on Saturday, September 16th. Finally, Morgan Stanley lowered their target price on shares of DiamondRock Hospitality from $9.00 to $8.50 and set an “equal weight” rating on the stock in a research note on Friday, August 25th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, DiamondRock Hospitality currently has an average rating of “Hold” and a consensus price target of $9.75.

Get Our Latest Stock Report on DRH

About DiamondRock Hospitality

(Free Report)

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.