Victory Capital Management Inc. Has $23.07 Million Stock Holdings in DiamondRock Hospitality (NYSE:DRH)

Victory Capital Management Inc. lifted its stake in DiamondRock Hospitality (NYSE:DRH) by 0.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,642,787 shares of the real estate investment trust’s stock after acquiring an additional 24,249 shares during the quarter. Victory Capital Management Inc. owned approximately 1.28% of DiamondRock Hospitality worth $23,072,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Natixis acquired a new position in shares of DiamondRock Hospitality in the first quarter worth $728,000. Russell Investments Group Ltd. increased its position in DiamondRock Hospitality by 19.9% during the first quarter. Russell Investments Group Ltd. now owns 562,844 shares of the real estate investment trust’s stock worth $5,409,000 after buying an additional 93,381 shares during the last quarter. MQS Management LLC acquired a new position in DiamondRock Hospitality during the second quarter worth $480,000. Millennium Management LLC acquired a new position in DiamondRock Hospitality during the second quarter worth $15,118,000. Finally, CANADA LIFE ASSURANCE Co increased its position in DiamondRock Hospitality by 5.2% during the first quarter. CANADA LIFE ASSURANCE Co now owns 439,584 shares of the real estate investment trust’s stock worth $4,216,000 after buying an additional 21,682 shares during the last quarter.

DiamondRock Hospitality Stock Up 0.2 %

DRH stock opened at $8.88 on Tuesday. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.73 and a quick ratio of 2.03. DiamondRock Hospitality has a 52-week low of $7.74 and a 52-week high of $9.99. The company has a 50-day moving average of $8.85 and a two-hundred day moving average of $8.54. The stock has a market capitalization of $1.84 billion, a price-to-earnings ratio of 31.70, a price-to-earnings-growth ratio of 5.16 and a beta of 1.60.

DiamondRock Hospitality Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Monday, September 30th were paid a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 1.35%. The ex-dividend date of this dividend was Monday, September 30th. DiamondRock Hospitality’s payout ratio is presently 42.86%.

Analysts Set New Price Targets

DRH has been the topic of several analyst reports. StockNews.com raised shares of DiamondRock Hospitality from a “sell” rating to a “hold” rating in a research report on Tuesday, November 12th. Compass Point raised shares of DiamondRock Hospitality from a “neutral” rating to a “buy” rating and set a $10.00 target price on the stock in a research report on Monday, August 5th. Evercore ISI downgraded shares of DiamondRock Hospitality from an “outperform” rating to an “inline” rating and set a $10.50 target price on the stock. in a research report on Friday. Truist Financial decreased their price target on shares of DiamondRock Hospitality from $11.00 to $10.00 and set a “hold” rating for the company in a report on Wednesday, September 4th. Finally, Wells Fargo & Company decreased their price target on shares of DiamondRock Hospitality from $9.50 to $9.00 and set an “equal weight” rating for the company in a report on Friday, September 13th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $10.17.

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 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.