Kathleen Merrill Sells 20,000 Shares of DiamondRock Hospitality (NYSE:DRH) Stock

DiamondRock Hospitality Company (NYSE:DRH) Director Kathleen Merrill sold 20,000 shares of DiamondRock Hospitality stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $11.88, for a total value of $237,600.00. Following the completion of the sale, the director owned 84,335 shares of the company’s stock, valued at $1,001,899.80. This trade represents a 19.17% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

DiamondRock Hospitality Stock Down 1.2%

Shares of NYSE:DRH opened at $11.87 on Thursday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.64 and a current ratio of 1.64. DiamondRock Hospitality Company has a 1 year low of $7.45 and a 1 year high of $12.12. The stock has a market capitalization of $2.43 billion, a P/E ratio of 47.48, a PEG ratio of 4.50 and a beta of 1.00. The stock has a 50-day simple moving average of $10.76 and a 200-day simple moving average of $9.88.

DiamondRock Hospitality Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 14th. Stockholders of record on Tuesday, June 30th will be issued a dividend of $0.09 per share. The ex-dividend date is Tuesday, June 30th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 3.0%. DiamondRock Hospitality’s payout ratio is presently 76.60%.

Hedge Funds Weigh In On DiamondRock Hospitality

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Hudson Bay Capital Management LP acquired a new position in DiamondRock Hospitality during the 3rd quarter worth approximately $9,098,000. Centersquare Investment Management LLC lifted its position in DiamondRock Hospitality by 6.0% during the 3rd quarter. Centersquare Investment Management LLC now owns 7,536,975 shares of the real estate investment trust’s stock worth $59,994,000 after acquiring an additional 427,467 shares in the last quarter. UBS Group AG raised its position in shares of DiamondRock Hospitality by 49.9% in the 4th quarter. UBS Group AG now owns 2,627,787 shares of the real estate investment trust’s stock valued at $23,545,000 after purchasing an additional 874,536 shares in the last quarter. SG Americas Securities LLC raised its position in shares of DiamondRock Hospitality by 881.7% in the 4th quarter. SG Americas Securities LLC now owns 2,024,790 shares of the real estate investment trust’s stock valued at $18,142,000 after purchasing an additional 1,818,527 shares in the last quarter. Finally, Lighthouse Investment Partners LLC raised its position in shares of DiamondRock Hospitality by 35.2% in the 3rd quarter. Lighthouse Investment Partners LLC now owns 825,000 shares of the real estate investment trust’s stock valued at $6,567,000 after purchasing an additional 215,000 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on DRH shares. Citigroup boosted their target price on DiamondRock Hospitality from $9.50 to $11.00 and gave the stock a “neutral” rating in a report on Wednesday, May 6th. Morgan Stanley boosted their target price on DiamondRock Hospitality from $9.50 to $9.60 and gave the stock an “equal weight” rating in a report on Tuesday, May 12th. Wells Fargo & Company boosted their target price on DiamondRock Hospitality from $11.00 to $12.00 and gave the stock an “equal weight” rating in a report on Monday, June 1st. Truist Financial boosted their target price on DiamondRock Hospitality from $11.00 to $12.00 and gave the stock a “buy” rating in a report on Tuesday, May 26th. Finally, LADENBURG THALM/SH SH started coverage on DiamondRock Hospitality in a report on Thursday, March 26th. They set a “buy” rating and a $12.00 target price for the company. Three equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, DiamondRock Hospitality has an average rating of “Hold” and a consensus target price of $11.43.

About DiamondRock Hospitality

DiamondRock Hospitality Company is a real estate investment trust (REIT) that acquires, owns and manages a diversified portfolio of upscale, full-service hotels in urban gateway markets across the United States. Established in 2004 and headquartered in Bethesda, Maryland, the company focuses on investing in high-quality lodging properties that cater to both business and leisure travelers. Its assets are positioned in key metropolitan areas, enabling DiamondRock to benefit from strong demand drivers such as corporate travel, group conventions and resort leisure stays.

The company’s portfolio includes full-service hotels offering a broad range of amenities, including guest rooms, on-site food and beverage outlets, meeting and event space, fitness centers and spa services.