SG Americas Securities LLC Acquires 2,147,881 Shares of DiamondRock Hospitality Company $DRH

SG Americas Securities LLC lifted its holdings in DiamondRock Hospitality Company (NYSE:DRH) by 106.1% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 4,172,671 shares of the real estate investment trust’s stock after acquiring an additional 2,147,881 shares during the quarter. SG Americas Securities LLC’s holdings in DiamondRock Hospitality were worth $39,098,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Allworth Financial LP grew its holdings in shares of DiamondRock Hospitality by 146.0% during the 4th quarter. Allworth Financial LP now owns 2,859 shares of the real estate investment trust’s stock valued at $26,000 after purchasing an additional 1,697 shares during the last quarter. First Horizon Corp lifted its stake in DiamondRock Hospitality by 54.9% in the fourth quarter. First Horizon Corp now owns 3,214 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 1,139 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in DiamondRock Hospitality by 77.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 3,436 shares of the real estate investment trust’s stock valued at $31,000 after buying an additional 1,498 shares during the period. Danske Bank A S purchased a new stake in DiamondRock Hospitality during the third quarter valued at about $33,000. Finally, Global Retirement Partners LLC grew its stake in shares of DiamondRock Hospitality by 12,114.7% during the fourth quarter. Global Retirement Partners LLC now owns 4,153 shares of the real estate investment trust’s stock valued at $37,000 after buying an additional 4,119 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Truist Financial boosted their target price on DiamondRock Hospitality from $11.00 to $12.00 and gave the company a “buy” rating in a research note on Tuesday, May 26th. Stifel Nicolaus set a $12.25 target price on shares of DiamondRock Hospitality in a report on Thursday, June 4th. Morgan Stanley lifted their target price on shares of DiamondRock Hospitality from $9.50 to $9.60 and gave the stock an “equal weight” rating in a research note on Tuesday, May 12th. LADENBURG THALM/SH SH upped their price target on shares of DiamondRock Hospitality from $13.00 to $14.00 and gave the company a “buy” rating in a report on Thursday, June 18th. Finally, Citigroup increased their price target on shares of DiamondRock Hospitality from $9.50 to $11.00 and gave the company a “neutral” rating in a research report on Wednesday, May 6th. Three 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, the stock has a consensus rating of “Hold” and a consensus target price of $11.65.

DiamondRock Hospitality Trading Up 0.4%

NYSE DRH opened at $12.30 on Wednesday. The firm has a market capitalization of $2.52 billion, a PE ratio of 49.20, a P/E/G ratio of 4.50 and a beta of 1.00. The stock’s 50 day moving average is $10.96 and its 200 day moving average is $9.98. DiamondRock Hospitality Company has a twelve month low of $7.45 and a twelve month high of $12.45. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 0.70.

DiamondRock Hospitality Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 14th. Investors of record on Tuesday, June 30th will be issued a $0.09 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $0.36 annualized dividend and a dividend yield of 2.9%. DiamondRock Hospitality’s payout ratio is presently 76.60%.

Insider Buying and Selling at DiamondRock Hospitality

In other DiamondRock Hospitality news, Director Kathleen Merrill sold 20,000 shares of the business’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $11.88, for a total transaction of $237,600.00. Following the completion of the sale, the director 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Michael A. Hartmeier sold 20,000 shares of the company’s stock in a transaction dated 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 owned 95,354 shares of the company’s stock, valued at approximately $997,402.84. The trade was a 17.34% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.90% of the company’s stock.

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.