Healthcare of Ontario Pension Plan Trust Fund Trims Stock Position in DiamondRock Hospitality Company $DRH

Healthcare of Ontario Pension Plan Trust Fund trimmed its stake in DiamondRock Hospitality Company (NYSE:DRH) by 5.3% in the 1st quarter, HoldingsChannel reports. The firm owned 2,171,450 shares of the real estate investment trust’s stock after selling 120,910 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in DiamondRock Hospitality were worth $20,346,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Arrowstreet Capital Limited Partnership raised its stake in DiamondRock Hospitality by 4.0% in the first quarter. Arrowstreet Capital Limited Partnership now owns 2,412,052 shares of the real estate investment trust’s stock worth $22,601,000 after buying an additional 91,672 shares in the last quarter. Sei Investments Co. lifted its holdings in DiamondRock Hospitality by 43.5% in the first quarter. Sei Investments Co. now owns 192,171 shares of the real estate investment trust’s stock worth $1,801,000 after buying an additional 58,224 shares during the period. State of Wyoming boosted its position in DiamondRock Hospitality by 256.2% during the 1st quarter. State of Wyoming now owns 87,839 shares of the real estate investment trust’s stock valued at $823,000 after acquiring an additional 63,181 shares in the last quarter. Summit Global Investments bought a new stake in DiamondRock Hospitality during the 1st quarter valued at approximately $590,000. Finally, Dimensional Fund Advisors LP grew its holdings in shares of DiamondRock Hospitality by 1.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,972,171 shares of the real estate investment trust’s stock worth $27,850,000 after acquiring an additional 37,482 shares during the period.

Insider Activity at DiamondRock Hospitality

In related news, Director Michael A. Hartmeier sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $10.46, for a total value of $209,200.00. Following the sale, the director owned 95,354 shares in the company, valued at $997,402.84. This represents a 17.34% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Kathleen Merrill sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $11.88, for a total value of $237,600.00. Following the transaction, the director directly owned 84,335 shares of the company’s stock, valued at approximately $1,001,899.80. This trade represents a 19.17% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.90% of the company’s stock.

DiamondRock Hospitality Price Performance

Shares of DRH opened at $12.91 on Tuesday. The stock has a market cap of $2.64 billion, a PE ratio of 51.64, a price-to-earnings-growth ratio of 4.50 and a beta of 0.98. 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 Company has a fifty-two week low of $7.45 and a fifty-two week high of $13.05. The firm’s 50-day simple moving average is $11.86 and its two-hundred day simple moving average is $10.51.

DiamondRock Hospitality Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 14th. Stockholders of record on Tuesday, June 30th were given a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend was Tuesday, June 30th. DiamondRock Hospitality’s payout ratio is currently 76.60%.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Citigroup increased their target price on DiamondRock Hospitality from $11.00 to $13.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 22nd. LADENBURG THALM/SH SH lifted their price target on DiamondRock Hospitality from $13.00 to $14.00 and gave the company a “buy” rating in a research report on Thursday, June 18th. Wells Fargo & Company upped their price target on DiamondRock Hospitality from $12.00 to $13.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 23rd. Stifel Nicolaus set a $12.25 price objective on DiamondRock Hospitality in a report on Thursday, June 4th. Finally, Truist Financial raised their price objective on DiamondRock Hospitality from $11.00 to $12.00 and gave the company a “buy” rating in a research report on Tuesday, May 26th. Four equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $12.12.

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.