Sumitomo Mitsui Trust Holdings Inc. Sells 6,786 Shares of DiamondRock Hospitality (NYSE:DRH)

Sumitomo Mitsui Trust Holdings Inc. trimmed its holdings in DiamondRock Hospitality (NYSE:DRH) by 2.7% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 246,480 shares of the real estate investment trust’s stock after selling 6,786 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned 0.12% of DiamondRock Hospitality worth $2,314,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Swiss National Bank lifted its holdings in shares of DiamondRock Hospitality by 0.4% in the 3rd quarter. Swiss National Bank now owns 461,100 shares of the real estate investment trust’s stock worth $3,703,000 after acquiring an additional 1,800 shares during the last quarter. Diversified Trust Co lifted its holdings in shares of DiamondRock Hospitality by 4.2% in the 3rd quarter. Diversified Trust Co now owns 52,385 shares of the real estate investment trust’s stock worth $421,000 after acquiring an additional 2,108 shares during the last quarter. Daiwa Securities Group Inc. lifted its holdings in shares of DiamondRock Hospitality by 4.0% in the 3rd quarter. Daiwa Securities Group Inc. now owns 66,929 shares of the real estate investment trust’s stock worth $537,000 after acquiring an additional 2,547 shares during the last quarter. Nomura Asset Management Co. Ltd. lifted its holdings in shares of DiamondRock Hospitality by 1.3% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 247,836 shares of the real estate investment trust’s stock worth $1,990,000 after acquiring an additional 3,100 shares during the last quarter. Finally, National Bank of Canada FI bought a new stake in shares of DiamondRock Hospitality in the 3rd quarter worth approximately $30,000.

Analysts Set New Price Targets

DRH has been the subject of a number of recent research reports. Wolfe Research initiated coverage on shares of DiamondRock Hospitality in a report on Wednesday, January 10th. They issued an “outperform” rating and a $11.00 price objective for the company. Stifel Nicolaus upped their price target on shares of DiamondRock Hospitality from $10.00 to $10.50 and gave the company a “buy” rating in a report on Friday, February 23rd. StockNews.com lowered shares of DiamondRock Hospitality from a “hold” rating to a “sell” rating in a report on Saturday, February 3rd. Finally, Truist Financial upped their price target on shares of DiamondRock Hospitality from $10.00 to $11.00 and gave the company a “hold” rating in a report on Thursday, March 14th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $10.30.

DiamondRock Hospitality Stock Up 0.8 %

Shares of DiamondRock Hospitality stock opened at $9.23 on Thursday. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 0.71. The company’s fifty day simple moving average is $9.37 and its two-hundred day simple moving average is $8.96. The company has a market cap of $1.94 billion, a P/E ratio of 25.63 and a beta of 1.60. DiamondRock Hospitality has a 12-month low of $7.33 and a 12-month high of $9.99.

DiamondRock Hospitality (NYSE:DRH) last issued its quarterly earnings data on Friday, February 23rd. The real estate investment trust reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.14). The company had revenue of $263.50 million for the quarter, compared to analysts’ expectations of $261.45 million. DiamondRock Hospitality had a net margin of 8.03% and a return on equity of 5.29%. The firm’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.23 earnings per share. Research analysts anticipate that DiamondRock Hospitality will post 0.96 EPS for the current year.

DiamondRock Hospitality Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Friday, March 29th were given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 1.30%. The ex-dividend date of this dividend was Wednesday, March 27th. DiamondRock Hospitality’s payout ratio is currently 33.33%.

DiamondRock Hospitality Company Profile

DiamondRock Hospitality Company is a self-advised real estate investment trust (REIT) that is an owner of a leading portfolio of geographically diversified hotels concentrated in leisure destinations and top gateway markets. The Company currently owns 36 premium quality hotels with over 9,700 rooms. The Company has strategically positioned its portfolio to be operated both under leading global brand families as well as independent boutique hotels in the lifestyle segment.