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 stock was sold at an average price of $11.88, for a total value of $237,600.00. Following the completion of the sale, the director owned 84,335 shares in the company, valued at approximately $1,001,899.80. This represents a 19.17% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

DiamondRock Hospitality Price Performance

Shares of DRH stock opened at $11.94 on Tuesday. The firm has a market cap of $2.44 billion, a P/E ratio of 47.76, a P/E/G ratio of 4.50 and a beta of 1.00. DiamondRock Hospitality Company has a fifty-two week low of $7.45 and a fifty-two week high of $12.03. The business’s 50 day moving average price is $10.66 and its 200-day moving average price is $9.84. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.64 and a current ratio of 1.64.

DiamondRock Hospitality Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 14th. Stockholders of record on Tuesday, June 30th will be given a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date is Tuesday, June 30th. DiamondRock Hospitality’s dividend payout ratio (DPR) is currently 76.60%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on DRH. Truist Financial raised 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. Barclays raised their target price on DiamondRock Hospitality from $10.00 to $12.00 and gave the company an “equal weight” rating in a research note on Monday, June 1st. Stifel Nicolaus set a $12.25 target price on DiamondRock Hospitality in a research note on Thursday, June 4th. LADENBURG THALM/SH SH began coverage on DiamondRock Hospitality in a research note on Thursday, March 26th. They issued a “buy” rating and a $12.00 target price for the company. Finally, Citigroup raised their target price on DiamondRock Hospitality from $9.50 to $11.00 and gave the company a “neutral” rating in a research note on Wednesday, May 6th. Three equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $11.43.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Allworth Financial LP raised its stake in DiamondRock Hospitality by 146.0% during the fourth quarter. Allworth Financial LP now owns 2,859 shares of the real estate investment trust’s stock valued at $26,000 after buying an additional 1,697 shares during the last quarter. First Horizon Corp raised its stake 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 buying an additional 1,139 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake 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 last quarter. Global Retirement Partners LLC raised its stake in 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. Finally, Danske Bank A S purchased a new position in DiamondRock Hospitality during the third quarter valued at $33,000.

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.