Wolverine Asset Management LLC Makes New $516,000 Investment in DiamondRock Hospitality (NYSE:DRH)

Wolverine Asset Management LLC purchased a new position in DiamondRock Hospitality (NYSE:DRH) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 54,949 shares of the real estate investment trust’s stock, valued at approximately $516,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. National Bank of Canada FI purchased a new stake in shares of DiamondRock Hospitality during the third quarter worth about $30,000. Evergreen Capital Management LLC purchased a new stake in shares of DiamondRock Hospitality during the third quarter worth about $90,000. Jump Financial LLC grew its position in shares of DiamondRock Hospitality by 80.8% during the third quarter. Jump Financial LLC now owns 20,500 shares of the real estate investment trust’s stock worth $165,000 after purchasing an additional 9,164 shares in the last quarter. Inspire Advisors LLC purchased a new stake in shares of DiamondRock Hospitality during the third quarter worth about $170,000. Finally, QRG Capital Management Inc. bought a new position in DiamondRock Hospitality during the third quarter valued at approximately $196,000.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. StockNews.com lowered DiamondRock Hospitality from a “hold” rating to a “sell” rating in a research note on Saturday, February 3rd. Wolfe Research assumed coverage on DiamondRock Hospitality in a research note on Wednesday, January 10th. They set an “outperform” rating and a $11.00 price target for the company. Truist Financial increased their price target on DiamondRock Hospitality from $10.00 to $11.00 and gave the company a “hold” rating in a research note on Thursday, March 14th. Finally, Stifel Nicolaus increased their price target on DiamondRock Hospitality from $10.00 to $10.50 and gave the company a “buy” rating in a research note on Friday, February 23rd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $10.30.

DiamondRock Hospitality Trading Down 0.3 %

DRH opened at $9.06 on Friday. The stock’s fifty day moving average is $9.36 and its two-hundred day moving average is $8.97. The company has a market capitalization of $1.91 billion, a P/E ratio of 25.15 and a beta of 1.60. DiamondRock Hospitality has a 52 week low of $7.33 and a 52 week high of $9.99. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 0.71.

DiamondRock Hospitality (NYSE:DRH) last released its quarterly earnings data on Friday, February 23rd. The real estate investment trust reported $0.04 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.14). The firm had revenue of $263.50 million for the quarter, compared to analysts’ expectations of $261.45 million. DiamondRock Hospitality had a return on equity of 5.29% and a net margin of 8.03%. The company’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.23 earnings per share. Analysts forecast that DiamondRock Hospitality will post 0.96 earnings per share for the current year.

DiamondRock Hospitality Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Friday, March 29th were issued a dividend of $0.03 per share. The ex-dividend date was Wednesday, March 27th. This represents a $0.12 annualized dividend and a yield of 1.33%. DiamondRock Hospitality’s payout ratio is currently 33.33%.

DiamondRock Hospitality Company 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.