Entropy Technologies LP Has $877,000 Stock Position in DiamondRock Hospitality Company $DRH

Entropy Technologies LP reduced its position in shares of DiamondRock Hospitality Company (NYSE:DRH) by 34.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 93,573 shares of the real estate investment trust’s stock after selling 48,722 shares during the period. Entropy Technologies LP’s holdings in DiamondRock Hospitality were worth $877,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of DRH. UBS Group AG boosted its holdings in DiamondRock Hospitality by 49.9% during the fourth quarter. UBS Group AG now owns 2,627,787 shares of the real estate investment trust’s stock valued at $23,545,000 after acquiring an additional 874,536 shares during the period. Louisiana State Employees Retirement System bought a new position in shares of DiamondRock Hospitality in the first quarter worth about $846,000. SG Americas Securities LLC increased its stake in shares of DiamondRock Hospitality by 106.1% in the first quarter. SG Americas Securities LLC now owns 4,172,671 shares of the real estate investment trust’s stock worth $39,098,000 after purchasing an additional 2,147,881 shares during the period. Principal Financial Group Inc. lifted its position in shares of DiamondRock Hospitality by 37.2% during the 1st quarter. Principal Financial Group Inc. now owns 1,334,731 shares of the real estate investment trust’s stock worth $12,506,000 after purchasing an additional 361,674 shares during the last quarter. Finally, Strs Ohio lifted its position in shares of DiamondRock Hospitality by 300.0% during the 1st quarter. Strs Ohio now owns 145,600 shares of the real estate investment trust’s stock worth $1,361,000 after purchasing an additional 109,200 shares during the last quarter.

DiamondRock Hospitality Stock Performance

Shares of NYSE DRH opened at $13.07 on Wednesday. The firm has a market capitalization of $2.67 billion, a price-to-earnings ratio of 52.28, a PEG ratio of 4.50 and a beta of 0.98. DiamondRock Hospitality Company has a one year low of $7.45 and a one year high of $13.08. The business has a fifty day simple moving average of $11.91 and a 200 day simple moving average of $10.54. The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 0.70.

DiamondRock Hospitality Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 14th. Shareholders of record on Tuesday, June 30th were issued a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend was Tuesday, June 30th. DiamondRock Hospitality’s payout ratio is 76.60%.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Morgan Stanley raised their target price on DiamondRock Hospitality from $9.60 to $10.00 and gave the company an “equal weight” rating in a report on Friday, July 17th. Wells Fargo & Company upped their price target on DiamondRock Hospitality from $12.00 to $13.00 and gave the stock an “equal weight” rating in a report on Thursday, July 23rd. LADENBURG THALM/SH SH increased their price objective on DiamondRock Hospitality from $13.00 to $14.00 and gave the company a “buy” rating in a research report on Thursday, June 18th. Truist Financial raised their price objective on shares of DiamondRock Hospitality from $11.00 to $12.00 and gave the stock a “buy” rating in a research note on Tuesday, May 26th. Finally, Citigroup boosted their target price on shares of DiamondRock Hospitality from $11.00 to $13.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 22nd. Four equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $12.12.

Insiders Place Their Bets

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

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.