DiamondRock Hospitality (NYSE:DRH) Director Kathleen Merrill Sells 20,000 Shares

DiamondRock Hospitality Company (NYSE:DRH) Director Kathleen Merrill sold 20,000 shares of DiamondRock Hospitality 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 transaction, the director directly owned 84,335 shares in the company, valued at $1,001,899.80. This represents a 19.17% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

DiamondRock Hospitality Price Performance

Shares of NYSE:DRH opened at $12.02 on Wednesday. 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 Company has a 1-year low of $7.45 and a 1-year high of $12.05. The company has a market capitalization of $2.46 billion, a P/E ratio of 48.08, a P/E/G ratio of 4.50 and a beta of 1.00. The firm’s 50 day simple moving average is $10.71 and its two-hundred day simple moving average is $9.86.

DiamondRock Hospitality Announces Dividend

The company also recently declared 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. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $0.36 annualized dividend and a yield of 3.0%. DiamondRock Hospitality’s payout ratio is currently 76.60%.

Institutional Investors Weigh In On DiamondRock Hospitality

Several large investors have recently bought and sold shares of the business. State Street Corp increased its position in DiamondRock Hospitality by 0.8% in the second quarter. State Street Corp now owns 12,587,578 shares of the real estate investment trust’s stock worth $97,400,000 after purchasing an additional 93,929 shares during the last quarter. Bank of America Corp DE increased its position in DiamondRock Hospitality by 17.5% in the second 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 last quarter. Alyeska Investment Group L.P. increased its position in DiamondRock Hospitality by 5.5% in the third quarter. Alyeska Investment Group L.P. now owns 9,152,343 shares of the real estate investment trust’s stock worth $72,853,000 after purchasing an additional 475,611 shares during the last quarter. Centersquare Investment Management LLC increased its position in DiamondRock Hospitality by 3.2% in the fourth quarter. Centersquare Investment Management LLC now owns 7,780,988 shares of the real estate investment trust’s stock worth $69,718,000 after purchasing an additional 244,013 shares during the last quarter. Finally, Cohen & Steers Inc. bought a new stake in DiamondRock Hospitality in the fourth quarter worth $59,231,000.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. Wells Fargo & Company lifted their price target on shares of DiamondRock Hospitality from $11.00 to $12.00 and gave the company an “equal weight” rating in a report on Monday, June 1st. LADENBURG THALM/SH SH started coverage on shares of DiamondRock Hospitality in a report on Thursday, March 26th. They set a “buy” rating and a $12.00 price target on the stock. Truist Financial lifted their price objective on shares of DiamondRock Hospitality from $11.00 to $12.00 and gave the company a “buy” rating in a research report on Tuesday, May 26th. Barclays lifted their price objective on shares of DiamondRock Hospitality from $10.00 to $12.00 and gave the company an “equal weight” rating in a research report on Monday, June 1st. Finally, Stifel Nicolaus set a $12.25 price objective on shares of DiamondRock Hospitality in a research report on Thursday, June 4th. Three research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, the company 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.