DiamondRock Hospitality Company $DRH Position Reduced by Invesco Ltd.

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

Several other institutional investors have also modified their holdings of DRH. Versant Capital Management Inc grew its position in shares of DiamondRock Hospitality by 156.3% during the first quarter. Versant Capital Management Inc now owns 3,699 shares of the real estate investment trust's stock worth $29,000 after acquiring an additional 2,256 shares during the last quarter. GF Fund Management CO. LTD. bought a new position in shares of DiamondRock Hospitality during the fourth quarter worth about $34,000. State of Wyoming bought a new position in shares of DiamondRock Hospitality during the fourth quarter worth about $54,000. Caxton Associates LP bought a new position in DiamondRock Hospitality in the 4th quarter valued at about $92,000. Finally, Harbor Capital Advisors Inc. grew its position 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 valued at $92,000 after buying an additional 2,492 shares in the last quarter.

DiamondRock Hospitality Price Performance

Shares of NYSE:DRH traded up $0.3750 during trading hours on Friday, hitting $8.4150. 570,013 shares of the company's stock traded hands, compared to its average volume of 2,645,077. DiamondRock Hospitality Company has a 52 week low of $6.18 and a 52 week high of $10.00. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.30 and a current ratio of 1.30. The company's fifty day simple moving average is $7.86 and its two-hundred day simple moving average is $7.78. The company has a market cap of $1.72 billion, a price-to-earnings ratio of 32.33 and a beta of 1.41.

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 for the quarter, beating the consensus estimate 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 analyst estimates of $303.70 million. During the same quarter last year, the firm posted $0.34 EPS. The business's revenue for the quarter was down 1.2% on a year-over-year basis. DiamondRock Hospitality has set its FY 2025 guidance at 0.960-1.060 EPS. As a group, equities analysts anticipate that DiamondRock Hospitality Company will post 0.96 EPS for the current fiscal year.

DiamondRock Hospitality Cuts Dividend

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

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on DRH shares. Evercore ISI decreased their target price on shares of DiamondRock Hospitality from $10.00 to $9.00 and set an "in-line" rating for the company in a research report on Monday, April 28th. Wells Fargo & Company upgraded shares of DiamondRock Hospitality from a "strong sell" rating to a "hold" rating and increased their target price for the company from $7.75 to $8.25 in a research report on Tuesday, July 1st. Bank of America upgraded shares of DiamondRock Hospitality from an "underperform" rating to a "buy" rating and set a $9.50 target price for the company in a research report on Wednesday, April 30th. Stifel Nicolaus increased their target price on shares of DiamondRock Hospitality from $8.00 to $8.25 and gave the company a "hold" rating in a research report on Friday, May 2nd. Finally, Truist Financial decreased their target price on shares of DiamondRock Hospitality from $10.00 to $9.00 and set a "hold" rating for the company in a research report 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.com, the stock 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.