Great Lakes Advisors LLC Decreases Stock Holdings in DiamondRock Hospitality Company $DRH

Key Points

• Great Lakes Advisors LLC reduced its holdings in DiamondRock Hospitality Company by 19.2% during the 1st quarter, now owning approximately 0.17% of the company.
• DiamondRock Hospitality reported a net margin of 6.04% and a quarterly EPS of $0.35, exceeding estimates and reflecting a slight year-over-year revenue decline of 1.2%.
• The company announced a quarterly dividend of $0.08 per share, representing a 3.8% dividend yield, with a payout ratio of 123.08%.

Great Lakes Advisors LLC cut its stake in DiamondRock Hospitality Company (NYSE:DRH - Free Report) by 19.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 341,941 shares of the real estate investment trust's stock after selling 81,247 shares during the period. Great Lakes Advisors LLC owned about 0.17% of DiamondRock Hospitality worth $2,640,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in DRH. Nuveen LLC bought a new position in shares of DiamondRock Hospitality in the first quarter worth about $18,262,000. Deutsche Bank AG lifted its stake in DiamondRock Hospitality by 723.6% in the first quarter. Deutsche Bank AG now owns 2,268,828 shares of the real estate investment trust's stock worth $17,515,000 after acquiring an additional 1,993,345 shares during the period. H 2 Credit Manager LP lifted its stake in DiamondRock Hospitality by 35.6% in the first quarter. H 2 Credit Manager LP now owns 5,075,150 shares of the real estate investment trust's stock worth $39,180,000 after acquiring an additional 1,333,705 shares during the period. Cbre Investment Management Listed Real Assets LLC lifted its stake in DiamondRock Hospitality by 66.7% in the first quarter. Cbre Investment Management Listed Real Assets LLC now owns 2,748,875 shares of the real estate investment trust's stock worth $21,221,000 after acquiring an additional 1,100,070 shares during the period. Finally, Sophron Capital Management L.P. purchased a new stake in DiamondRock Hospitality in the fourth quarter worth about $9,811,000.

Analyst Ratings Changes

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

DiamondRock Hospitality Stock Performance

Shares of NYSE DRH traded down $0.04 during midday trading on Tuesday, reaching $8.16. 579,632 shares of the stock were exchanged, compared to its average volume of 2,647,272. The firm has a market cap of $1.67 billion, a price-to-earnings ratio of 31.37 and a beta of 1.39. DiamondRock Hospitality Company has a twelve month low of $6.18 and a twelve month high of $10.00. The firm has a 50-day simple moving average of $8.10 and a two-hundred day simple moving average of $7.77. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.64.

DiamondRock Hospitality (NYSE:DRH - Get Free Report) last issued its quarterly earnings data 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 for the quarter, compared to analysts' expectations of $303.70 million. DiamondRock Hospitality had a net margin of 6.04% and a return on equity of 4.23%. The business's revenue was down 1.2% on a year-over-year basis. During the same quarter last year, the company earned $0.34 EPS. DiamondRock Hospitality has set its FY 2025 guidance at 0.960-1.060 EPS. As a group, 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. Stockholders of record on Tuesday, September 30th will be given a dividend of $0.08 per share. The ex-dividend date is Tuesday, September 30th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 3.9%. DiamondRock Hospitality's dividend payout ratio (DPR) is 123.08%.

DiamondRock Hospitality 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.