Resona Asset Management Co. Ltd. Has $692,000 Holdings in DiamondRock Hospitality Company $DRH

Resona Asset Management Co. Ltd. increased its position in shares of DiamondRock Hospitality Company (NYSE:DRH) by 10.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 90,437 shares of the real estate investment trust’s stock after purchasing an additional 8,220 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in DiamondRock Hospitality were worth $692,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of DRH. Versant Capital Management Inc raised its position in shares of DiamondRock Hospitality by 156.3% in the 1st quarter. Versant Capital Management Inc now owns 3,699 shares of the real estate investment trust’s stock valued at $29,000 after buying an additional 2,256 shares in the last quarter. GF Fund Management CO. LTD. acquired a new position in DiamondRock Hospitality during the fourth quarter valued at approximately $34,000. State of Wyoming bought a new stake in DiamondRock Hospitality during the fourth quarter worth $54,000. Caxton Associates LP bought a new stake in DiamondRock Hospitality during the fourth quarter worth $92,000. Finally, Harbor Capital Advisors Inc. boosted its holdings in shares of DiamondRock Hospitality by 26.4% in the 1st quarter. Harbor Capital Advisors Inc. now owns 11,941 shares of the real estate investment trust’s stock valued at $92,000 after purchasing an additional 2,492 shares in the last quarter.

Analyst Ratings Changes

Several analysts recently weighed in on DRH shares. Morgan Stanley reduced their price objective on DiamondRock Hospitality from $9.00 to $7.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 22nd. Wells Fargo & Company upgraded shares of DiamondRock Hospitality from a “strong sell” rating to a “hold” rating and raised their price target for the company from $7.75 to $8.25 in a research note on Tuesday, July 1st. Stifel Nicolaus increased their price objective on shares of DiamondRock Hospitality from $8.00 to $8.25 and gave the company a “hold” rating in a research note on Friday, May 2nd. Truist Financial cut their target price on shares of DiamondRock Hospitality from $10.00 to $9.00 and set a “hold” rating on the stock in a research report on Friday, May 30th. Finally, Bank of America upgraded shares of DiamondRock Hospitality from an “underperform” rating to a “buy” rating and set a $9.50 price target for the company in a report on Wednesday, April 30th. Six equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, DiamondRock Hospitality presently has a consensus rating of “Hold” and a consensus price target of $8.50.

DiamondRock Hospitality Stock Down 1.0%

NYSE:DRH opened at $7.89 on Monday. DiamondRock Hospitality Company has a one year low of $6.18 and a one year high of $10.00. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.30 and a quick ratio of 1.30. The company has a market cap of $1.62 billion, a PE ratio of 30.35 and a beta of 1.41. The firm’s 50 day simple moving average is $7.84 and its 200 day simple moving average is $7.79.

DiamondRock Hospitality (NYSE:DRH) last issued its quarterly earnings results on Thursday, August 7th. The real estate investment trust reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.02. DiamondRock Hospitality had a net margin of 6.04% and a return on equity of 4.23%. The company had revenue of $305.70 million for the quarter, compared to analyst estimates of $303.70 million. During the same quarter in the previous year, the business earned $0.34 earnings per share. DiamondRock Hospitality’s revenue was down 1.2% compared to the same quarter last year. On average, research analysts anticipate that DiamondRock Hospitality Company will post 0.96 earnings per share for the current year.

DiamondRock Hospitality Cuts Dividend

The business also recently disclosed a dividend, which was paid on Friday, July 11th. Stockholders of record on Tuesday, July 1st were given a dividend of $0.08 per share. This represents a dividend yield of 420.0%. The ex-dividend date was Monday, June 30th. DiamondRock Hospitality’s dividend payout ratio (DPR) is 123.08%.

DiamondRock Hospitality 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 leisure destinations and top gateway markets. The Company currently owns 36 premium quality hotels with over 9,700 rooms. The Company has strategically positioned its portfolio to be operated both under leading global brand families as well as independent boutique hotels in the lifestyle segment.