Van Lanschot Kempen Investment Management N.V. Trims Stock Position in DiamondRock Hospitality Company $DRH

Key Points

• Van Lanschot Kempen Investment Management N.V. reduced its stake in DiamondRock Hospitality by 47.2%, selling 136,244 shares and now holding approximately 0.07% of the company worth $1,176,000.
• Analysts have varied opinions, with Evercore ISI lowering their price target from $10.00 to $9.00, while Bank of America upgraded the stock from "underperform" to "buy" with a price target of $9.50.
• DiamondRock Hospitality's stock currently holds a market capitalization of $1.66 billion, with recent earnings exceeding expectations at $0.35 per share.

Van Lanschot Kempen Investment Management N.V. reduced its position in shares of DiamondRock Hospitality Company (NYSE:DRH - Free Report) by 47.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 152,368 shares of the real estate investment trust's stock after selling 136,244 shares during the quarter. Van Lanschot Kempen Investment Management N.V. owned 0.07% of DiamondRock Hospitality worth $1,176,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. Nissay Asset Management Corp Japan ADV raised its position in shares of DiamondRock Hospitality by 4.0% during the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 31,738 shares of the real estate investment trust's stock worth $292,000 after purchasing an additional 1,216 shares during the last quarter. Ancora Advisors LLC raised its position in shares of DiamondRock Hospitality by 0.9% during the 4th quarter. Ancora Advisors LLC now owns 164,150 shares of the real estate investment trust's stock worth $1,482,000 after purchasing an additional 1,490 shares during the last quarter. Illinois Municipal Retirement Fund raised its position in shares of DiamondRock Hospitality by 1.8% during the 1st quarter. Illinois Municipal Retirement Fund now owns 107,860 shares of the real estate investment trust's stock worth $833,000 after purchasing an additional 1,873 shares during the last quarter. Wolverine Asset Management LLC raised its position in shares of DiamondRock Hospitality by 2.4% during the 1st quarter. Wolverine Asset Management LLC now owns 86,304 shares of the real estate investment trust's stock worth $666,000 after purchasing an additional 2,016 shares during the last quarter. Finally, 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 worth $29,000 after purchasing an additional 2,256 shares during the last quarter.

DiamondRock Hospitality Stock Performance

NYSE DRH traded down $0.1030 during trading on Monday, reaching $8.3570. The company's stock had a trading volume of 396,688 shares, compared to its average volume of 2,644,014. 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 firm has a market cap of $1.71 billion, a price-to-earnings ratio of 32.17 and a beta of 1.41. DiamondRock Hospitality Company has a twelve month low of $6.18 and a twelve month high of $10.00. The business's fifty day moving average price is $7.88 and its 200-day moving average price is $7.77.

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 EPS for the quarter, beating analysts' consensus estimates of $0.33 by $0.02. The company had revenue of $305.70 million for the quarter, compared to analyst estimates of $303.70 million. DiamondRock Hospitality had a net margin of 6.04% and a return on equity of 4.23%. DiamondRock Hospitality's quarterly revenue was down 1.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.34 earnings per share. 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 Cuts Dividend

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

Analyst Ratings Changes

A number of research firms have commented on DRH. Truist Financial cut their price objective on shares of DiamondRock Hospitality from $10.00 to $9.00 and set a "hold" rating for the company in a report on Friday, May 30th. Wells Fargo & Company upgraded shares of DiamondRock Hospitality from a "strong sell" rating to a "hold" rating and lifted their target price for the company from $7.75 to $8.25 in a report on Tuesday, July 1st. Stifel Nicolaus lifted their target price on shares of DiamondRock Hospitality from $8.00 to $8.25 and gave the company a "hold" rating in a report on Friday, May 2nd. Bank of America raised shares of DiamondRock Hospitality from an "underperform" rating to a "buy" rating and set a $9.50 price target for the company in a research report on Wednesday, April 30th. Finally, Evercore ISI decreased their price objective 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. One 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, DiamondRock Hospitality currently has a consensus rating of "Hold" and an average price target of $8.50.

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.