Hsbc Holdings PLC Grows Stake in DiamondRock Hospitality Company $DRH

Hsbc Holdings PLC grew its stake in shares of DiamondRock Hospitality Company (NYSE:DRH) by 10.7% in the 4th quarter, Holdings Channel.com reports. The fund owned 542,940 shares of the real estate investment trust’s stock after acquiring an additional 52,392 shares during the period. Hsbc Holdings PLC’s holdings in DiamondRock Hospitality were worth $4,881,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the stock. AQR Capital Management LLC increased its stake 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 purchasing an additional 45,146 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of DiamondRock Hospitality by 5.1% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 123,672 shares of the real estate investment trust’s stock worth $955,000 after buying an additional 5,971 shares in the last quarter. United Services Automobile Association bought a new position in shares of DiamondRock Hospitality in the first quarter worth approximately $91,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of DiamondRock Hospitality by 3.8% during the first 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 during the last quarter. Finally, Creative Planning purchased a new stake in shares of DiamondRock Hospitality during the second quarter valued at approximately $99,000.

Insider Buying and Selling

In other news, Director Michael A. Hartmeier sold 20,000 shares of DiamondRock Hospitality stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $10.46, for a total transaction of $209,200.00. Following the transaction, the director owned 95,354 shares in the company, valued at $997,402.84. This trade represents a 17.34% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Kathleen Merrill sold 20,000 shares of the business’s stock in a transaction 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 sale, the director directly owned 84,335 shares of the company’s stock, valued at approximately $1,001,899.80. The trade was a 19.17% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.90% of the stock is currently owned by corporate insiders.

DiamondRock Hospitality Trading Up 1.7%

DiamondRock Hospitality stock opened at $11.85 on Friday. DiamondRock Hospitality Company has a 52-week low of $7.45 and a 52-week high of $12.54. The company has a market cap of $2.42 billion, a P/E ratio of 47.40, a P/E/G ratio of 4.50 and a beta of 0.98. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 0.70. The business has a 50-day simple moving average of $11.38 and a two-hundred day simple moving average of $10.23.

DiamondRock Hospitality Announces Dividend

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on DRH shares. LADENBURG THALM/SH SH raised their price target 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. Morgan Stanley upped their price objective on DiamondRock Hospitality from $9.50 to $9.60 and gave the company an “equal weight” rating in a research report on Tuesday, May 12th. Truist Financial lifted 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. Stifel Nicolaus set a $12.25 price target on DiamondRock Hospitality in a research note on Thursday, June 4th. Finally, Barclays boosted their price target on DiamondRock Hospitality from $10.00 to $12.00 and gave the stock an “equal weight” rating in a research note on Monday, June 1st. Three equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $11.65.

DiamondRock Hospitality 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.