Invesco Ltd. Decreases Position in DiamondRock Hospitality Company $DRH

Key Points

• Invesco Ltd. has reduced its stake in DiamondRock Hospitality by 23.6%, selling over 2 million shares, and now holds approximately 3.20% of the company valued at $51 million.
• Analysts have mixed ratings on DiamondRock Hospitality, with target prices ranging from $7.00 to $10.00, and a consensus rating of "Hold".
• DiamondRock Hospitality recently announced a dividend of $0.08 per share, reflecting a dividend payout ratio of 123.08%.

Invesco Ltd. lowered its stake in shares of DiamondRock Hospitality Company (NYSE:DRH - Free Report) by 23.6% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 6,607,444 shares of the real estate investment trust's stock after selling 2,044,095 shares during the quarter. Invesco Ltd. owned 3.20% of DiamondRock Hospitality worth $51,009,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Versant Capital Management Inc raised its position in shares of DiamondRock Hospitality by 156.3% during the 1st quarter. Versant Capital Management Inc now owns 3,699 shares of the real estate investment trust's stock valued at $29,000 after buying an additional 2,256 shares in the last quarter. GF Fund Management CO. LTD. bought a new position in shares of DiamondRock Hospitality during the 4th quarter valued at $34,000. State of Wyoming bought a new position in shares of DiamondRock Hospitality during the 4th quarter valued at $54,000. Caxton Associates LP bought a new position in shares of DiamondRock Hospitality during the 4th quarter valued at $92,000. Finally, Harbor Capital Advisors Inc. grew its holdings in DiamondRock Hospitality by 26.4% in the 1st quarter. Harbor Capital Advisors Inc. now owns 11,941 shares of the real estate investment trust's stock worth $92,000 after acquiring an additional 2,492 shares during the last quarter.

DiamondRock Hospitality Stock Up 0.6%

NYSE DRH traded up $0.0450 during trading hours on Thursday, reaching $8.0750. 959,859 shares of the company's stock traded hands, compared to its average volume of 2,652,478. DiamondRock Hospitality Company has a 52-week low of $6.18 and a 52-week high of $10.00. The firm has a market cap of $1.66 billion, a PE ratio of 31.09 and a beta of 1.41. The firm has a 50-day simple moving average of $7.85 and a 200 day simple moving average of $7.79. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.30 and a quick ratio of 1.30.

DiamondRock Hospitality (NYSE:DRH - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The real estate investment trust reported $0.35 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.33 by $0.02. DiamondRock Hospitality had a net margin of 6.04% and a return on equity of 4.23%. The company had revenue of $305.70 million during the quarter, compared to analysts' expectations of $303.70 million. During the same period last year, the company posted $0.34 EPS. DiamondRock Hospitality's revenue was down 1.2% on a year-over-year basis. DiamondRock Hospitality has set its FY 2025 guidance at 0.960-1.060 EPS. Sell-side analysts anticipate that DiamondRock Hospitality Company will post 0.96 EPS for the current fiscal year.

DiamondRock Hospitality Cuts Dividend

The firm also recently declared a dividend, which was paid on Friday, July 11th. Investors of record on Tuesday, July 1st were given a dividend of $0.08 per share. This represents a yield of 420.0%. The ex-dividend date of this dividend was Monday, June 30th. DiamondRock Hospitality's dividend payout ratio (DPR) is 123.08%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on DRH shares. Wells Fargo & Company raised shares of DiamondRock Hospitality from a "strong sell" rating to a "hold" rating and raised their price target for the stock from $7.75 to $8.25 in a report on Tuesday, July 1st. Truist Financial cut their price target 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. Stifel Nicolaus raised their price target on shares of DiamondRock Hospitality from $8.00 to $8.25 and gave the stock a "hold" rating in a report on Friday, May 2nd. Evercore ISI cut their price target on shares of DiamondRock Hospitality from $10.00 to $9.00 and set an "in-line" rating on the stock in a report on Monday, April 28th. Finally, Bank of America raised shares of DiamondRock Hospitality from an "underperform" rating to a "buy" rating and set a $9.50 price target on the stock in a report on Wednesday, April 30th. One investment analyst has rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, DiamondRock Hospitality currently has a consensus rating of "Hold" and a consensus target price of $8.50.

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.