Y Intercept Hong Kong Ltd Sells 151,079 Shares of DiamondRock Hospitality Company $DRH

Y Intercept Hong Kong Ltd trimmed its stake in DiamondRock Hospitality Company (NYSE:DRH) by 59.4% during the 1st quarter, Holdings Channel reports. The firm owned 103,194 shares of the real estate investment trust’s stock after selling 151,079 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in DiamondRock Hospitality were worth $967,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of DRH. First Horizon Corp lifted its position in DiamondRock Hospitality by 54.9% during the fourth quarter. First Horizon Corp now owns 3,214 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 1,139 shares during the last quarter. ProShare Advisors LLC increased its holdings in shares of DiamondRock Hospitality by 3.1% in the 4th quarter. ProShare Advisors LLC now owns 40,041 shares of the real estate investment trust’s stock worth $359,000 after buying an additional 1,203 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in shares of DiamondRock Hospitality by 32.5% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,990 shares of the real estate investment trust’s stock valued at $54,000 after buying an additional 1,470 shares in the last quarter. EverSource Wealth Advisors LLC raised its position in shares of DiamondRock Hospitality by 77.3% during the 4th 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 in the last quarter. Finally, Metis Global Partners LLC lifted its holdings in shares of DiamondRock Hospitality by 3.6% during the 4th quarter. Metis Global Partners LLC now owns 48,193 shares of the real estate investment trust’s stock worth $432,000 after acquiring an additional 1,667 shares during the last quarter.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Truist Financial upped their target price on shares of DiamondRock Hospitality from $11.00 to $12.00 and gave the stock a “buy” rating in a research report on Tuesday, May 26th. Barclays raised their price target on DiamondRock Hospitality from $10.00 to $12.00 and gave the company an “equal weight” rating in a research report on Monday, June 1st. LADENBURG THALM/SH SH lifted their price target on DiamondRock Hospitality from $13.00 to $14.00 and gave the stock a “buy” rating in a research note on Thursday, June 18th. Morgan Stanley upped their price objective on DiamondRock Hospitality from $9.50 to $9.60 and gave the stock an “equal weight” rating in a report on Tuesday, May 12th. Finally, Stifel Nicolaus set a $12.25 price objective on DiamondRock Hospitality in a research report on Thursday, June 4th. Three investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat, DiamondRock Hospitality currently has an average rating of “Hold” and an average target price of $11.65.

Insider Activity

In other news, 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 approximately $997,402.84. This trade represents a 17.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kathleen Merrill sold 20,000 shares of DiamondRock Hospitality stock in a transaction dated Friday, June 12th. The stock was 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. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.90% of the company’s stock.

DiamondRock Hospitality Trading Up 0.3%

Shares of DiamondRock Hospitality stock traded up $0.03 during trading on Friday, reaching $11.88. The company’s stock had a trading volume of 1,320,099 shares, compared to its average volume of 2,320,596. 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 $2.43 billion, a price-to-earnings ratio of 47.52, a PEG ratio of 4.50 and a beta of 0.98. The firm’s 50-day moving average is $11.42 and its two-hundred day moving average is $10.24. 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 firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 14th. Shareholders of record on Tuesday, June 30th will be given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 3.0%. The ex-dividend date is Tuesday, June 30th. DiamondRock Hospitality’s dividend payout ratio is presently 76.60%.

About DiamondRock Hospitality

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.