DiamondRock Hospitality Company $DRH Shares Sold by AlphaQuest LLC

Key Points

• AlphaQuest LLC has reduced its stake in DiamondRock Hospitality Company by 52.8%, selling 46,146 shares in the first quarter, leaving them with 41,214 shares valued at approximately $318,000.
• DiamondRock Hospitality's stock is currently trading at $8.59, with a 12-month high of $10.00 and a low of $6.18, while the company reported an earnings per share of $0.35 for the last quarter, exceeding expectations.
• The company has announced a quarterly dividend of $0.08 per share, which translates to an annual yield of 3.7%, despite a high dividend payout ratio of 123.08%.

AlphaQuest LLC decreased its position in shares of DiamondRock Hospitality Company (NYSE:DRH - Free Report) by 52.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 41,214 shares of the real estate investment trust's stock after selling 46,146 shares during the quarter. AlphaQuest LLC's holdings in DiamondRock Hospitality were worth $318,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Martingale Asset Management L P raised its holdings in DiamondRock Hospitality by 151.1% during the first quarter. Martingale Asset Management L P now owns 216,810 shares of the real estate investment trust's stock worth $1,674,000 after purchasing an additional 130,451 shares in the last quarter. Hsbc Holdings PLC lifted its position in DiamondRock Hospitality by 121.5% during the first quarter. Hsbc Holdings PLC now owns 402,720 shares of the real estate investment trust's stock worth $3,104,000 after buying an additional 220,918 shares during the period. Northern Trust Corp boosted its position in shares of DiamondRock Hospitality by 0.8% in the first quarter. Northern Trust Corp now owns 3,278,297 shares of the real estate investment trust's stock worth $25,308,000 after acquiring an additional 27,319 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of DiamondRock Hospitality by 150.1% in the 1st quarter. American Century Companies Inc. now owns 132,649 shares of the real estate investment trust's stock worth $1,024,000 after purchasing an additional 79,620 shares during the period. Finally, Aberdeen Group plc lifted its holdings in shares of DiamondRock Hospitality by 9.2% during the 1st quarter. Aberdeen Group plc now owns 75,441 shares of the real estate investment trust's stock valued at $582,000 after acquiring an additional 6,370 shares in the last quarter.

DiamondRock Hospitality Price Performance

Shares of NYSE DRH traded up $0.06 during mid-day trading on Wednesday, reaching $8.49. The company's stock had a trading volume of 358,115 shares, compared to its average volume of 2,629,768. 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 firm has a market capitalization of $1.74 billion, a PE ratio of 32.64 and a beta of 1.39. DiamondRock Hospitality Company has a 52 week low of $6.18 and a 52 week high of $10.00. The stock has a fifty day moving average of $8.00 and a two-hundred day moving average of $7.77.

DiamondRock Hospitality (NYSE:DRH - Get Free Report) last announced its 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. The business had revenue of $305.70 million during the quarter, compared to the consensus estimate of $303.70 million. DiamondRock Hospitality had a net margin of 6.04% and a return on equity of 4.23%. The firm's revenue was down 1.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.34 earnings per share. DiamondRock Hospitality has set its FY 2025 guidance at 0.960-1.060 EPS. As a group, sell-side analysts anticipate that DiamondRock Hospitality Company will post 0.96 EPS for the current fiscal year.

DiamondRock Hospitality Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 14th. Investors of record on Tuesday, September 30th will be paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 3.8%. The ex-dividend date of this dividend is Tuesday, September 30th. DiamondRock Hospitality's dividend payout ratio is presently 123.08%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Truist Financial cut their price target on DiamondRock Hospitality from $10.00 to $9.00 and set a "hold" rating on the stock in a report on Friday, May 30th. Wells Fargo & Company raised their price objective on shares of DiamondRock Hospitality from $8.25 to $9.00 and gave the stock an "equal weight" rating in a report on Wednesday, August 27th. One analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, DiamondRock Hospitality has a consensus rating of "Hold" and a consensus target price of $8.63.

About DiamondRock Hospitality

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.