Sumitomo Mitsui Trust Group Inc. Sells 1,087,623 Shares of DiamondRock Hospitality Company $DRH

Sumitomo Mitsui Trust Group Inc. lowered its position in DiamondRock Hospitality Company (NYSE:DRH) by 83.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 220,092 shares of the real estate investment trust’s stock after selling 1,087,623 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in DiamondRock Hospitality were worth $2,062,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. First Horizon Corp increased its holdings in DiamondRock Hospitality by 54.9% during the 4th quarter. First Horizon Corp now owns 3,214 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 1,139 shares in the last quarter. ProShare Advisors LLC boosted its stake in DiamondRock Hospitality by 3.1% in the fourth quarter. ProShare Advisors LLC now owns 40,041 shares of the real estate investment trust’s stock worth $359,000 after purchasing an additional 1,203 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in DiamondRock Hospitality by 32.5% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,990 shares of the real estate investment trust’s stock worth $54,000 after purchasing an additional 1,470 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of DiamondRock Hospitality by 77.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 3,436 shares of the real estate investment trust’s stock worth $31,000 after purchasing an additional 1,498 shares during the last quarter. Finally, Metis Global Partners LLC grew its holdings in shares of DiamondRock Hospitality by 3.6% during the fourth quarter. Metis Global Partners LLC now owns 48,193 shares of the real estate investment trust’s stock worth $432,000 after purchasing an additional 1,667 shares during the last quarter.

DiamondRock Hospitality Price Performance

DiamondRock Hospitality stock opened at $12.31 on Thursday. The business’s 50-day simple moving average is $11.51 and its 200 day simple moving average is $10.31. The stock has a market cap of $2.52 billion, a price-to-earnings ratio of 49.24, a P/E/G ratio of 4.50 and a beta of 0.98. DiamondRock Hospitality Company has a 12-month low of $7.45 and a 12-month high of $12.54. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 0.70.

DiamondRock Hospitality Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 14th. Stockholders of record on Tuesday, June 30th were paid a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend was Tuesday, June 30th. DiamondRock Hospitality’s dividend payout ratio (DPR) is 76.60%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on DRH shares. Morgan Stanley lifted their price target on DiamondRock Hospitality from $9.50 to $9.60 and gave the company an “equal weight” rating in a report on Tuesday, May 12th. LADENBURG THALM/SH SH raised their price objective on shares of DiamondRock Hospitality from $13.00 to $14.00 and gave the company a “buy” rating in a research report on Thursday, June 18th. Stifel Nicolaus set a $12.25 target price on shares of DiamondRock Hospitality in a research note on Thursday, June 4th. Barclays upped their target price on shares of DiamondRock Hospitality from $10.00 to $12.00 and gave the stock an “equal weight” rating in a research report on Monday, June 1st. Finally, Citigroup raised their price target on shares of DiamondRock Hospitality from $9.50 to $11.00 and gave the company a “neutral” rating in a report on Wednesday, May 6th. Three analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $11.65.

Insider Activity at DiamondRock Hospitality

In related news, Director Michael A. Hartmeier sold 20,000 shares of the stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $10.46, for a total value of $209,200.00. Following the transaction, the director directly owned 95,354 shares in the company, valued at $997,402.84. This represents a 17.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Kathleen Merrill sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $11.88, for a total transaction of $237,600.00. Following the completion of the transaction, the director directly owned 84,335 shares in the company, valued at approximately $1,001,899.80. The trade was a 19.17% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.90% of the stock is owned by insiders.

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.