DiamondRock Hospitality Company $DRH Shares Purchased by Public Sector Pension Investment Board

Public Sector Pension Investment Board increased its stake in DiamondRock Hospitality Company (NYSE:DRH) by 34.3% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 944,700 shares of the real estate investment trust’s stock after acquiring an additional 241,376 shares during the period. Public Sector Pension Investment Board owned approximately 0.46% of DiamondRock Hospitality worth $7,520,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. JPMorgan Chase & Co. increased its holdings in shares of DiamondRock Hospitality by 106.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 5,412,002 shares of the real estate investment trust’s stock worth $41,456,000 after buying an additional 2,788,022 shares during the last quarter. Bank of America Corp DE raised its holdings in shares of DiamondRock Hospitality by 17.5% in the 2nd quarter. Bank of America Corp DE now owns 9,231,991 shares of the real estate investment trust’s stock worth $70,717,000 after purchasing an additional 1,377,897 shares during the period. Schroder Investment Management Group lifted its stake in shares of DiamondRock Hospitality by 59.8% in the 2nd quarter. Schroder Investment Management Group now owns 2,247,696 shares of the real estate investment trust’s stock valued at $17,217,000 after purchasing an additional 840,741 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new stake in shares of DiamondRock Hospitality during the 2nd quarter worth about $5,724,000. Finally, AQR Capital Management LLC increased its position in DiamondRock Hospitality by 1,006.3% during the 2nd quarter. AQR Capital Management LLC now owns 723,250 shares of the real estate investment trust’s stock worth $5,540,000 after purchasing an additional 657,874 shares in the last quarter.

DiamondRock Hospitality Stock Up 1.2%

DRH stock opened at $9.99 on Wednesday. The firm has a market cap of $2.03 billion, a price-to-earnings ratio of 39.96, a PEG ratio of 4.50 and a beta of 1.03. The firm has a fifty day moving average price of $9.34 and a two-hundred day moving average price of $8.64. DiamondRock Hospitality Company has a 1-year low of $6.18 and a 1-year high of $10.24. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.64 and a quick ratio of 1.64.

DiamondRock Hospitality Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 14th. Stockholders of record on Wednesday, December 31st were issued a $0.08 dividend. The ex-dividend date was Wednesday, December 31st. This represents a $0.32 annualized dividend and a dividend yield of 3.2%. DiamondRock Hospitality’s dividend payout ratio (DPR) is 128.00%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Morgan Stanley decreased their price objective on shares of DiamondRock Hospitality from $9.00 to $8.50 and set an “equal weight” rating for the company in a research note on Wednesday, October 22nd. Wells Fargo & Company boosted their price objective on DiamondRock Hospitality from $9.00 to $10.00 and gave the stock an “equal weight” rating in a research note on Monday, December 1st. Barclays began coverage on DiamondRock Hospitality in a research note on Tuesday, January 6th. They issued an “equal weight” rating and a $10.00 target price for the company. Truist Financial raised DiamondRock Hospitality from a “hold” rating to a “buy” rating and boosted their price target for the stock from $10.00 to $11.00 in a research report on Friday, January 9th. Finally, Deutsche Bank Aktiengesellschaft raised shares of DiamondRock Hospitality from a “hold” rating to a “buy” rating and increased their price objective for the company from $10.00 to $12.00 in a research report on Tuesday, January 13th. Three analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $9.91.

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.