Fisher Asset Management LLC Sells 57,616 Shares of DiamondRock Hospitality Company $DRH

Fisher Asset Management LLC decreased its stake in shares of DiamondRock Hospitality Company (NYSE:DRH) by 7.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 727,615 shares of the real estate investment trust’s stock after selling 57,616 shares during the period. Fisher Asset Management LLC’s holdings in DiamondRock Hospitality were worth $6,519,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Allworth Financial LP lifted its position 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 purchasing an additional 1,697 shares during the period. 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 period. EverSource Wealth Advisors LLC lifted its position 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 purchasing an additional 1,498 shares during the period. Danske Bank A S bought a new position in DiamondRock Hospitality during the third quarter valued at approximately $33,000. Finally, Global Retirement Partners LLC lifted its position 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 purchasing an additional 4,119 shares during the period.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on DRH shares. Stifel Nicolaus increased their price objective on shares of DiamondRock Hospitality from $11.00 to $11.25 and gave the company a “hold” rating in a research report on Monday, May 11th. LADENBURG THALM/SH SH started coverage on shares of DiamondRock Hospitality in a research report on Thursday, March 26th. They set a “buy” rating and a $12.00 price objective on the stock. Wells Fargo & Company increased their price objective on shares of DiamondRock Hospitality from $10.00 to $11.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 22nd. Citigroup increased their price objective on shares of DiamondRock Hospitality from $9.50 to $11.00 and gave the company a “neutral” rating in a research report on Wednesday, May 6th. Finally, Morgan Stanley increased their price target on shares of DiamondRock Hospitality from $9.50 to $9.60 and gave the stock an “equal weight” rating in a research report on Tuesday, May 12th. Three equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, DiamondRock Hospitality has a consensus rating of “Hold” and an average price target of $10.98.

Insider Activity at DiamondRock Hospitality

In other DiamondRock Hospitality news, CAO Steve Spierto sold 4,000 shares of the stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $9.93, for a total value of $39,720.00. Following the transaction, the chief accounting officer directly owned 77,977 shares in the company, valued at approximately $774,311.61. This trade represents a 4.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Michael A. Hartmeier sold 20,000 shares of the firm’s stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $10.46, for a total transaction of $209,200.00. Following the sale, the director owned 95,354 shares in the company, valued at $997,402.84. The trade was a 17.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.90% of the stock is currently owned by company insiders.

DiamondRock Hospitality Stock Up 0.2%

DRH opened at $11.17 on Friday. The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 0.70. DiamondRock Hospitality Company has a 1-year low of $7.39 and a 1-year high of $11.27. The company has a market capitalization of $2.28 billion, a PE ratio of 44.68, a PEG ratio of 4.50 and a beta of 0.99. The firm’s 50 day simple moving average is $10.16 and its two-hundred day simple moving average is $9.63.

DiamondRock Hospitality (NYSE:DRH) last released its quarterly earnings results on Thursday, February 26th. The real estate investment trust reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.03. DiamondRock Hospitality had a net margin of 5.69% and a return on equity of 4.04%. The business had revenue of $274.53 million for the quarter, compared to the consensus estimate of $273.18 million. During the same period last year, the firm earned $0.24 earnings per share. The company’s quarterly revenue was down 1.6% on a year-over-year basis. As a group, equities analysts forecast that DiamondRock Hospitality Company will post 0.96 EPS for the current year.

DiamondRock Hospitality Dividend Announcement

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 $0.09 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $0.36 annualized dividend and a yield of 3.2%. DiamondRock Hospitality’s dividend payout ratio (DPR) 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.