DiamondRock Hospitality (NYSE:DRH) Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans lowered its holdings in DiamondRock Hospitality (NYSE:DRH) by 20.1% during the third quarter, Holdings Channel reports. The fund owned 380,418 shares of the real estate investment trust’s stock after selling 95,482 shares during the quarter. Thrivent Financial for Lutherans’ holdings in DiamondRock Hospitality were worth $3,321,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the business. Dimensional Fund Advisors LP grew its position in DiamondRock Hospitality by 4.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,102,363 shares of the real estate investment trust’s stock worth $26,214,000 after purchasing an additional 120,228 shares during the period. Victory Capital Management Inc. grew its holdings in DiamondRock Hospitality by 0.9% during the third quarter. Victory Capital Management Inc. now owns 2,642,787 shares of the real estate investment trust’s stock worth $23,072,000 after acquiring an additional 24,249 shares during the period. Bank of New York Mellon Corp grew its holdings in DiamondRock Hospitality by 1.2% during the second quarter. Bank of New York Mellon Corp now owns 2,081,031 shares of the real estate investment trust’s stock worth $17,585,000 after acquiring an additional 25,154 shares during the period. Millennium Management LLC purchased a new position in DiamondRock Hospitality during the second quarter valued at approximately $15,118,000. Finally, Dana Investment Advisors Inc. lifted its holdings in DiamondRock Hospitality by 8.7% in the second quarter. Dana Investment Advisors Inc. now owns 822,407 shares of the real estate investment trust’s stock valued at $6,949,000 after acquiring an additional 65,861 shares during the period.

DiamondRock Hospitality Stock Up 2.1 %

DRH stock opened at $9.35 on Tuesday. DiamondRock Hospitality has a 52 week low of $7.74 and a 52 week high of $9.99. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.66. The firm has a 50-day simple moving average of $8.92 and a 200-day simple moving average of $8.55. The stock has a market capitalization of $1.94 billion, a P/E ratio of 33.39, a P/E/G ratio of 5.56 and a beta of 1.60.

DiamondRock Hospitality Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Monday, September 30th were paid a dividend of $0.03 per share. The ex-dividend date was Monday, September 30th. This represents a $0.12 annualized dividend and a yield of 1.28%. DiamondRock Hospitality’s dividend payout ratio (DPR) is currently 42.86%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. StockNews.com raised shares of DiamondRock Hospitality from a “sell” rating to a “hold” rating in a report on Tuesday, November 12th. Stifel Nicolaus cut shares of DiamondRock Hospitality from a “buy” rating to a “hold” rating and cut their price objective for the company from $10.75 to $10.25 in a report on Friday. Truist Financial decreased their price objective on shares of DiamondRock Hospitality from $11.00 to $10.00 and set a “hold” rating for the company in a research report on Wednesday, September 4th. Wells Fargo & Company dropped their target price on DiamondRock Hospitality from $9.50 to $9.00 and set an “equal weight” rating on the stock in a research report on Friday, September 13th. Finally, Compass Point raised DiamondRock Hospitality from a “neutral” rating to a “buy” rating and set a $10.00 price target for the company in a report on Monday, August 5th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, DiamondRock Hospitality presently has a consensus rating of “Hold” and an average target price of $10.13.

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.