State of New Jersey Common Pension Fund D Increases Position in DiamondRock Hospitality (NYSE:DRH)
State of New Jersey Common Pension Fund D grew its stake in DiamondRock Hospitality (NYSE:DRH – Get Rating) by 4.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 424,954 shares of the real estate investment trust’s stock after acquiring an additional 18,826 shares during the quarter. State of New Jersey Common Pension Fund D owned about 0.20% of DiamondRock Hospitality worth $3,191,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also made changes to their positions in the stock. New York State Teachers Retirement System increased its holdings in shares of DiamondRock Hospitality by 21.6% in the 3rd quarter. New York State Teachers Retirement System now owns 457,224 shares of the real estate investment trust’s stock valued at $3,434,000 after acquiring an additional 81,363 shares during the period. Allspring Global Investments Holdings LLC boosted its position in shares of DiamondRock Hospitality by 617.2% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 230,118 shares of the real estate investment trust’s stock worth $1,728,000 after purchasing an additional 198,033 shares in the last quarter. AE Wealth Management LLC acquired a new stake in shares of DiamondRock Hospitality in the 3rd quarter worth $506,000. Mizuho Securities USA LLC acquired a new stake in shares of DiamondRock Hospitality in the 3rd quarter worth $83,000. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its position in shares of DiamondRock Hospitality by 3.5% in the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 258,250 shares of the real estate investment trust’s stock worth $1,939,000 after purchasing an additional 8,769 shares in the last quarter.
Analysts Set New Price Targets
A number of analysts have recently weighed in on DRH shares. Evercore ISI raised DiamondRock Hospitality from an “in-line” rating to an “outperform” rating in a research report on Tuesday, October 18th. Compass Point lowered their price objective on DiamondRock Hospitality to $11.00 in a research report on Tuesday, November 15th. StockNews.com assumed coverage on DiamondRock Hospitality in a research report on Wednesday, October 12th. They set a “hold” rating for the company. Finally, Morgan Stanley assumed coverage on DiamondRock Hospitality in a research report on Monday, December 5th. They set an “equal weight” rating and a $10.00 price target for the company. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, DiamondRock Hospitality presently has a consensus rating of “Hold” and an average price target of $10.60.
DiamondRock Hospitality Stock Performance
Shares of DRH stock opened at $8.66 on Friday. The stock has a market cap of $1.83 billion, a PE ratio of 24.06 and a beta of 1.63. The business has a 50-day simple moving average of $8.67 and a 200-day simple moving average of $8.70. The company has a quick ratio of 3.29, a current ratio of 3.29 and a debt-to-equity ratio of 0.85. DiamondRock Hospitality has a 52-week low of $7.18 and a 52-week high of $11.15.
DiamondRock Hospitality Announces Dividend
The business also recently disclosed a None dividend, which was paid on Thursday, January 12th. Stockholders of record on Friday, December 30th were issued a $0.06 dividend. The ex-dividend date of this dividend was Thursday, December 29th. This represents a dividend yield of 1.3%. DiamondRock Hospitality’s dividend payout ratio (DPR) is presently 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 top gateway markets and destination resort locations. The Company owns 31 premium quality hotels with over 10,000 rooms. The Company has strategically positioned its hotels to be operated both under leading global brand families as well as unique boutique hotels in the lifestyle segment.
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