DiamondRock Hospitality Company $DRH Shares Sold by Rhumbline Advisers

Key Points

• Rhumbline Advisers reduced its stake in DiamondRock Hospitality by 4.9%, now owning 644,174 shares valued at approximately $4.97 million.
• DiamondRock Hospitality reported a quarterly EPS of $0.35, beating estimates, but experienced a revenue decline of 1.2% compared to the previous year.
• The company recently declared a quarterly dividend of $0.08 per share, yielding an annualized dividend of 3.8% with a high payout ratio of 123.08%.

Rhumbline Advisers trimmed its stake in shares of DiamondRock Hospitality Company (NYSE:DRH - Free Report) by 4.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 644,174 shares of the real estate investment trust's stock after selling 33,543 shares during the quarter. Rhumbline Advisers owned 0.31% of DiamondRock Hospitality worth $4,973,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Alyeska Investment Group L.P. lifted its holdings in shares of DiamondRock Hospitality by 2.8% in the 1st quarter. Alyeska Investment Group L.P. now owns 8,812,253 shares of the real estate investment trust's stock valued at $68,031,000 after purchasing an additional 236,176 shares during the last quarter. Centersquare Investment Management LLC increased its position in DiamondRock Hospitality by 12.9% in the 1st quarter. Centersquare Investment Management LLC now owns 5,967,761 shares of the real estate investment trust's stock valued at $46,071,000 after acquiring an additional 683,839 shares during the period. H 2 Credit Manager LP increased its position in DiamondRock Hospitality by 35.6% during the 1st 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 purchasing an additional 1,333,705 shares during the period. Northern Trust Corp increased its position in DiamondRock Hospitality by 0.8% during the 1st quarter. Northern Trust Corp now owns 3,278,297 shares of the real estate investment trust's stock worth $25,308,000 after purchasing an additional 27,319 shares during the period. Finally, Cbre Investment Management Listed Real Assets LLC increased its position in DiamondRock Hospitality by 66.7% during the 1st 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 purchasing an additional 1,100,070 shares during the period.

DiamondRock Hospitality Stock Down 0.7%

Shares of NYSE DRH opened at $8.35 on Friday. DiamondRock Hospitality Company has a 12-month low of $6.18 and a 12-month high of $10.00. The company has a market cap of $1.71 billion, a P/E ratio of 32.10 and a beta of 1.39. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.64. The stock has a fifty day moving average price of $8.10 and a 200 day moving average price of $7.77.

DiamondRock Hospitality (NYSE:DRH - Get Free Report) last announced its quarterly earnings results 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. The firm had revenue of $305.70 million during the quarter, compared to the consensus estimate of $303.70 million. DiamondRock Hospitality had a return on equity of 4.23% and a net margin of 6.04%.The firm's quarterly revenue was down 1.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.34 EPS. DiamondRock Hospitality has set its FY 2025 guidance at 0.960-1.060 EPS. Research analysts anticipate that DiamondRock Hospitality Company will post 0.96 EPS for the current fiscal year.

DiamondRock Hospitality Dividend Announcement

The business also recently declared 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 of this dividend is Tuesday, September 30th. This represents a $0.32 annualized dividend and a dividend yield of 3.8%. DiamondRock Hospitality's dividend payout ratio (DPR) is presently 123.08%.

Wall Street Analyst Weigh In

DRH has been the topic of a number of research reports. Wells Fargo & Company upped their price target on DiamondRock Hospitality from $8.25 to $9.00 and gave the stock an "equal weight" rating in a report on Wednesday, August 27th. Truist Financial reduced their price target on DiamondRock Hospitality from $10.00 to $9.00 and set a "hold" rating on the stock in a research note on Friday, May 30th. One equities research analyst has rated the stock with a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $8.63.

DiamondRock Hospitality Company 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.

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