Healthcare of Ontario Pension Plan Trust Fund Grows Stake in DiamondRock Hospitality Company $DRH

Healthcare of Ontario Pension Plan Trust Fund increased its holdings in shares of DiamondRock Hospitality Company (NYSE:DRH) by 907.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,292,360 shares of the real estate investment trust’s stock after purchasing an additional 2,064,760 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in DiamondRock Hospitality were worth $20,540,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in DRH. AQR Capital Management LLC grew its holdings in DiamondRock Hospitality by 223.2% during the 1st quarter. AQR Capital Management LLC now owns 65,376 shares of the real estate investment trust’s stock valued at $505,000 after buying an additional 45,146 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in DiamondRock Hospitality by 5.1% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 123,672 shares of the real estate investment trust’s stock valued at $955,000 after buying an additional 5,971 shares in the last quarter. United Services Automobile Association purchased a new position in DiamondRock Hospitality during the 1st quarter valued at approximately $91,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in DiamondRock Hospitality by 3.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,327,841 shares of the real estate investment trust’s stock valued at $10,251,000 after buying an additional 48,558 shares in the last quarter. Finally, Creative Planning purchased a new position in DiamondRock Hospitality during the 2nd quarter valued at approximately $99,000.

Insider Activity

In other news, Director Michael A. Hartmeier sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $10.46, for a total value of $209,200.00. Following the completion of the sale, the director directly owned 95,354 shares of the company’s stock, valued at $997,402.84. This trade represents a 17.34% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.90% of the stock is owned by insiders.

DiamondRock Hospitality Price Performance

NYSE:DRH opened at $11.94 on Tuesday. The firm has a market capitalization of $2.44 billion, a price-to-earnings ratio of 47.76, a PEG ratio of 4.50 and a beta of 1.00. DiamondRock Hospitality Company has a 1 year low of $7.45 and a 1 year high of $12.03. The business has a 50 day simple moving average of $10.66 and a 200-day simple moving average of $9.84. 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 Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 14th. Stockholders of record on Tuesday, June 30th will be paid a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend is Tuesday, June 30th. DiamondRock Hospitality’s dividend payout ratio (DPR) is presently 76.60%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Truist Financial raised their price target on DiamondRock Hospitality from $11.00 to $12.00 and gave the company a “buy” rating in a report on Tuesday, May 26th. Stifel Nicolaus set a $12.25 price target on DiamondRock Hospitality in a report on Thursday, June 4th. Barclays raised their price target on DiamondRock Hospitality from $10.00 to $12.00 and gave the company an “equal weight” rating in a report on Monday, June 1st. LADENBURG THALM/SH SH began coverage on DiamondRock Hospitality in a research note on Thursday, March 26th. They issued a “buy” rating and a $12.00 price objective for the company. Finally, Citigroup raised their price objective on DiamondRock Hospitality from $9.50 to $11.00 and gave the company a “neutral” rating in a research note on Wednesday, May 6th. Three analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $11.43.

DiamondRock Hospitality Company Profile

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.