Alyeska Investment Group L.P. lessened its stake in DiamondRock Hospitality Company (NYSE:DRH - Free Report) by 23.2% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 6,210,713 shares of the real estate investment trust's stock after selling 1,875,966 shares during the quarter. Alyeska Investment Group L.P. owned 3.04% of DiamondRock Hospitality worth $75,646,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Louisiana State Employees Retirement System purchased a new position in DiamondRock Hospitality in the first quarter worth approximately $846,000. UBS Group AG increased its position in shares of DiamondRock Hospitality by 49.9% in the 4th quarter. UBS Group AG now owns 2,627,787 shares of the real estate investment trust's stock valued at $23,545,000 after purchasing an additional 874,536 shares during the last quarter. Bank of America Corp DE raised its holdings in shares of DiamondRock Hospitality by 7.2% in the 1st quarter. Bank of America Corp DE now owns 8,987,338 shares of the real estate investment trust's stock valued at $84,211,000 after purchasing an additional 606,962 shares in the last quarter. SG Americas Securities LLC raised its holdings in shares of DiamondRock Hospitality by 106.1% in the 1st quarter. SG Americas Securities LLC now owns 4,172,671 shares of the real estate investment trust's stock valued at $39,098,000 after purchasing an additional 2,147,881 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its position in shares of DiamondRock Hospitality by 37.2% during the 1st quarter. Principal Financial Group Inc. now owns 1,334,731 shares of the real estate investment trust's stock worth $12,506,000 after purchasing an additional 361,674 shares during the last quarter.
Wall Street Analyst Weigh In
A number of equities analysts recently commented on DRH shares. Zacks Research upgraded shares of DiamondRock Hospitality from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, August 19th. LADENBURG THALM/SH SH raised their price target on DiamondRock Hospitality from $13.00 to $14.00 and gave the company a "buy" rating in a research note on Thursday, June 18th. Truist Financial lifted their price target on DiamondRock Hospitality from $11.00 to $12.00 and gave the stock a "buy" rating in a report on Tuesday, May 26th. Morgan Stanley upped their price objective on DiamondRock Hospitality from $10.00 to $11.00 and gave the stock an "equal weight" rating in a research report on Tuesday, August 18th. Finally, Citigroup increased their price objective on DiamondRock Hospitality from $11.00 to $13.00 and gave the company a "neutral" rating in a report on Wednesday, July 22nd. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat, DiamondRock Hospitality currently has a consensus rating of "Moderate Buy" and an average target price of $12.53.
View Our Latest Research Report on DiamondRock Hospitality
Insider Buying and Selling at DiamondRock Hospitality
In related news, Director Kathleen Merrill sold 20,000 shares of the company's stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $11.88, for a total value of $237,600.00. Following the completion of the sale, the director directly owned 84,335 shares of the company's stock, valued at $1,001,899.80. This represents a 19.17% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.90% of the company's stock.
DiamondRock Hospitality Price Performance
Shares of NYSE:DRH opened at $12.70 on Friday. The company's fifty day moving average price is $12.49 and its 200 day moving average price is $11.08. DiamondRock Hospitality Company has a 12 month low of $7.47 and a 12 month high of $13.79. 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 firm has a market capitalization of $2.60 billion, a P/E ratio of 50.80, a P/E/G ratio of 4.50 and a beta of 0.98.
DiamondRock Hospitality (NYSE:DRH - Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The real estate investment trust reported $0.44 earnings per share for the quarter, beating analysts' consensus estimates of $0.22 by $0.22. DiamondRock Hospitality had a net margin of 5.69% and a return on equity of 4.04%. The firm had revenue of $318.29 million during the quarter, compared to analysts' expectations of $314.98 million. During the same period in the previous year, the company earned $0.35 earnings per share. DiamondRock Hospitality's quarterly revenue was up 4.1% compared to the same quarter last year. DiamondRock Hospitality has set its FY 2026 guidance at 1.180-1.230 EPS. As a group, sell-side analysts predict that DiamondRock Hospitality Company will post 0.96 earnings per share for the current fiscal year.
DiamondRock Hospitality Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 14th. Stockholders of record on Wednesday, September 30th will be issued a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 3.5%. The ex-dividend date of this dividend is Wednesday, September 30th. This is an increase from DiamondRock Hospitality's previous quarterly dividend of $0.09. DiamondRock Hospitality's dividend payout ratio (DPR) is presently 60.27%.
DiamondRock Hospitality Company Profile
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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.
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