Key Points
- DiamondRock Hospitality director Kathleen Merrill sold 20,000 shares on June 12 at an average price of $11.88, for total proceeds of $237,600. After the sale, she still owned 84,335 shares, reducing her stake by 19.17%.
- The stock traded higher and remains near its 52-week high, opening at $12.02 and up 0.7% in the session. The company’s 52-week range is $7.45 to $12.05.
- DiamondRock announced a quarterly dividend of $0.09 per share, payable July 14 to shareholders of record on June 30. That works out to an annualized dividend of $0.36 and a yield of 3.0%.
DiamondRock Hospitality Company (NYSE:DRH - Get Free Report) Director Kathleen Merrill sold 20,000 shares of the business's stock in a transaction on Friday, June 12th. The stock was sold at an average price of $11.88, for a total transaction of $237,600.00. Following the completion of the sale, the director owned 84,335 shares in the company, valued at $1,001,899.80. This represents a 19.17% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.
DiamondRock Hospitality Stock Up 0.7%
NYSE DRH opened at $12.02 on Wednesday. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 0.70. The company has a fifty day moving average of $10.71 and a two-hundred day moving average of $9.86. The firm has a market capitalization of $2.46 billion, a price-to-earnings ratio of 48.08, a PEG ratio of 4.50 and a beta of 1.00. DiamondRock Hospitality Company has a 52 week low of $7.45 and a 52 week high of $12.05.
DiamondRock Hospitality Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 14th. Shareholders of record on Tuesday, June 30th will be paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend is Tuesday, June 30th. DiamondRock Hospitality's payout ratio is presently 76.60%.
Analyst Upgrades and Downgrades
Several research analysts have commented on the stock. Wells Fargo & Company lifted their price objective on shares of DiamondRock Hospitality from $11.00 to $12.00 and gave the stock an "equal weight" rating in a research note on Monday, June 1st. Stifel Nicolaus set a $12.25 price objective on shares of DiamondRock Hospitality in a research note on Thursday, June 4th. Citigroup lifted their price objective on shares of DiamondRock Hospitality from $9.50 to $11.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 6th. Truist Financial lifted their price objective on shares of DiamondRock Hospitality from $11.00 to $12.00 and gave the stock a "buy" rating in a research note on Tuesday, May 26th. Finally, LADENBURG THALM/SH SH assumed coverage on shares of DiamondRock Hospitality in a research note on Thursday, March 26th. They set a "buy" rating and a $12.00 price objective for the company. Three equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $11.43.
Read Our Latest Analysis on DRH
Institutional Trading of DiamondRock Hospitality
Large investors have recently made changes to their positions in the stock. Allworth Financial LP boosted its stake in shares of 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 boosted its stake in shares of 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 boosted its stake in shares of 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. Global Retirement Partners LLC boosted its stake in shares of 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. Finally, Danske Bank A S purchased a new stake in shares of DiamondRock Hospitality during the third quarter valued at $33,000.
DiamondRock Hospitality Company Profile
(
Get Free Report)
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.
Featured Stories
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
