QRG Capital Management Inc. Has $1.25 Million Position in DiamondRock Hospitality Company $DRH

QRG Capital Management Inc. increased its position in shares of DiamondRock Hospitality Company (NYSE:DRH) by 131.4% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 133,946 shares of the real estate investment trust’s stock after buying an additional 76,071 shares during the quarter. QRG Capital Management Inc. owned 0.07% of DiamondRock Hospitality worth $1,255,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of DRH. Allworth Financial LP boosted its position in DiamondRock Hospitality by 146.0% during the 4th quarter. Allworth Financial LP now owns 2,859 shares of the real estate investment trust’s stock worth $26,000 after acquiring an additional 1,697 shares during the last quarter. First Horizon Corp lifted its position in shares of DiamondRock Hospitality by 54.9% in the fourth quarter. First Horizon Corp now owns 3,214 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 1,139 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of DiamondRock Hospitality by 77.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 3,436 shares of the real estate investment trust’s stock worth $31,000 after purchasing an additional 1,498 shares in the last quarter. Danske Bank A S acquired a new position in DiamondRock Hospitality during the third quarter worth $33,000. Finally, Global Retirement Partners LLC boosted its holdings 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 worth $37,000 after purchasing an additional 4,119 shares during the last quarter.

Insider Transactions at DiamondRock Hospitality

In other news, Director Michael A. Hartmeier sold 20,000 shares of DiamondRock Hospitality stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $10.46, for a total transaction of $209,200.00. Following the completion of the transaction, the director directly owned 95,354 shares in the company, valued at approximately $997,402.84. The trade was a 17.34% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Kathleen Merrill sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $11.88, for a total value of $237,600.00. Following the transaction, the director directly owned 84,335 shares in the company, valued at $1,001,899.80. The trade was a 19.17% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on DRH. Wells Fargo & Company lifted their price target on shares of DiamondRock Hospitality from $11.00 to $12.00 and gave the company an “equal weight” rating in a research note on Monday, June 1st. Barclays increased their price objective on shares of DiamondRock Hospitality from $10.00 to $12.00 and gave the stock an “equal weight” rating in a research note on Monday, June 1st. Truist Financial raised their price objective on DiamondRock Hospitality from $11.00 to $12.00 and gave the company a “buy” rating in a report on Tuesday, May 26th. LADENBURG THALM/SH SH upped their target price on DiamondRock Hospitality from $13.00 to $14.00 and gave the stock a “buy” rating in a report on Thursday, June 18th. Finally, Morgan Stanley increased their price target on DiamondRock Hospitality from $9.50 to $9.60 and gave the company an “equal weight” rating in a research report on Tuesday, May 12th. Three analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $11.65.

DiamondRock Hospitality Stock Performance

Shares of DRH stock opened at $11.75 on Wednesday. The stock has a market cap of $2.40 billion, a P/E ratio of 47.00, a P/E/G ratio of 4.50 and a beta of 0.98. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.64 and a quick ratio of 1.64. The company has a fifty day moving average price of $11.32 and a two-hundred day moving average price of $10.20. DiamondRock Hospitality Company has a one year low of $7.45 and a one year high of $12.54.

DiamondRock Hospitality Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 14th. Investors of record on Tuesday, June 30th will be paid a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 3.1%. The ex-dividend date is Tuesday, June 30th. DiamondRock Hospitality’s dividend payout ratio (DPR) is 76.60%.

DiamondRock Hospitality Company Profile

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.