DiamondRock Hospitality Company $DRH Shares Sold by Great Lakes Advisors LLC

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 lessened its holdings in shares of DiamondRock Hospitality Company (NYSE:DRH - Free Report) by 19.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor 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 0.17% of DiamondRock Hospitality worth $2,640,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Dynamic Technology Lab Private Ltd acquired a new stake in shares of DiamondRock Hospitality in the first quarter valued at approximately $403,000. Nissay Asset Management Corp Japan ADV raised its holdings in shares of DiamondRock Hospitality by 10.6% during the 1st quarter. Nissay Asset Management Corp Japan ADV now owns 35,107 shares of the real estate investment trust's stock worth $271,000 after acquiring an additional 3,369 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of DiamondRock Hospitality by 5.1% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 123,672 shares of the real estate investment trust's stock valued at $955,000 after acquiring an additional 5,971 shares during the last quarter. AQR Capital Management LLC grew its holdings in shares of DiamondRock Hospitality by 223.2% in the first quarter. AQR Capital Management LLC now owns 65,376 shares of the real estate investment trust's stock valued at $505,000 after purchasing an additional 45,146 shares during the period. Finally, Alyeska Investment Group L.P. increased its position in DiamondRock Hospitality by 2.8% during the first quarter. Alyeska Investment Group L.P. now owns 8,812,253 shares of the real estate investment trust's stock worth $68,031,000 after purchasing an additional 236,176 shares during the last quarter.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on DRH shares. Truist Financial decreased their target price on shares of 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 increased their price objective on DiamondRock Hospitality from $8.25 to $9.00 and gave the stock an "equal weight" rating in a research report on Wednesday, August 27th. One investment analyst has rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $8.63.

DiamondRock Hospitality Trading Down 0.7%

Shares of NYSE:DRH traded down $0.06 during mid-day trading on Friday, reaching $8.35. 2,742,946 shares of the company were exchanged, compared to its average volume of 2,259,019. DiamondRock Hospitality Company has a 1 year low of $6.18 and a 1 year high of $10.00. 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's 50-day simple moving average is $8.10 and its 200 day simple moving average is $7.77. The firm has a market cap of $1.71 billion, a price-to-earnings ratio of 32.10 and a beta of 1.39.

DiamondRock Hospitality (NYSE:DRH - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The real estate investment trust reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.02. DiamondRock Hospitality had a return on equity of 4.23% and a net margin of 6.04%.The firm had revenue of $305.70 million for the quarter, compared to the consensus estimate of $303.70 million. During the same quarter in the previous year, the business earned $0.34 EPS. The company's quarterly revenue was down 1.2% compared to the same quarter last year. DiamondRock Hospitality has set its FY 2025 guidance at 0.960-1.060 EPS. Equities research analysts forecast that DiamondRock Hospitality Company will post 0.96 EPS for the current year.

DiamondRock Hospitality Announces Dividend

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%.

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.