DiamondRock Hospitality Company $DRH Shares Sold by Vanguard Group Inc.

Key Points

• Vanguard Group Inc. trimmed its stake in DiamondRock Hospitality by 1.2% in Q4, selling 390,350 shares and leaving it with 33,348,983 shares (about 16.37% of the company) valued at roughly $298.8 million.
• Analysts have been mixed but slightly more positive recently—three rate the stock a Buy and six a Hold—giving DiamondRock a consensus "Hold" rating and an average price target of $10.81 after several firms raised targets.
• DiamondRock announced a quarterly dividend of $0.09 (annualized $0.36), implying a yield of about 3.4%, with an ex-dividend and record date on June 30 and payment on July 14.

Vanguard Group Inc. lessened its holdings in shares of DiamondRock Hospitality Company (NYSE:DRH - Free Report) by 1.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 33,348,983 shares of the real estate investment trust's stock after selling 390,350 shares during the period. Vanguard Group Inc. owned approximately 16.37% of DiamondRock Hospitality worth $298,807,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. First Horizon Corp increased its position in shares of DiamondRock Hospitality by 54.9% in the fourth quarter. First Horizon Corp now owns 3,214 shares of the real estate investment trust's stock valued at $29,000 after buying an additional 1,139 shares in the last quarter. Danske Bank A S purchased a new position in shares of DiamondRock Hospitality in the third quarter valued at $33,000. Mirae Asset Global Investments Co. Ltd. increased its position in shares of DiamondRock Hospitality by 32.5% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,990 shares of the real estate investment trust's stock valued at $54,000 after buying an additional 1,470 shares in the last quarter. State of Wyoming purchased a new position in shares of DiamondRock Hospitality in the second quarter valued at $58,000. Finally, Smartleaf Asset Management LLC boosted its stake in shares of DiamondRock Hospitality by 33.8% during the second quarter. Smartleaf Asset Management LLC now owns 9,294 shares of the real estate investment trust's stock valued at $72,000 after acquiring an additional 2,349 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Morgan Stanley lifted their price objective on DiamondRock Hospitality from $9.00 to $9.50 and gave the stock an "equal weight" rating in a research report on Friday, April 10th. Wells Fargo & Company lifted their price objective on DiamondRock Hospitality from $10.00 to $11.00 and gave the stock an "equal weight" rating in a research report on Wednesday, April 22nd. Truist Financial upgraded DiamondRock Hospitality from a "hold" rating to a "buy" rating and lifted their price objective for the stock from $10.00 to $11.00 in a research report on Friday, January 9th. LADENBURG THALM/SH SH initiated coverage on DiamondRock Hospitality in a research report on Thursday, March 26th. They set a "buy" rating and a $12.00 price objective for the company. Finally, Citigroup raised their price target on DiamondRock Hospitality from $9.50 to $11.00 and gave the stock a "neutral" rating in a research note on Wednesday. Three research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $10.81.

DiamondRock Hospitality Stock Down 0.1%

Shares of NYSE:DRH opened at $10.66 on Friday. The stock's 50-day moving average price is $9.86 and its two-hundred day moving average price is $9.34. The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 0.70. DiamondRock Hospitality Company has a 12-month low of $7.31 and a 12-month high of $10.90. The firm has a market cap of $2.18 billion, a price-to-earnings ratio of 42.64, a PEG ratio of 4.50 and a beta of 0.99.

DiamondRock Hospitality (NYSE:DRH - Get Free Report) last released its quarterly earnings data on Thursday, February 26th. The real estate investment trust reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.03. The business had revenue of $274.53 million for the quarter, compared to analyst estimates of $273.18 million. DiamondRock Hospitality had a return on equity of 4.04% and a net margin of 5.69%.The company's revenue was down 1.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.24 EPS. DiamondRock Hospitality has set its FY 2026 guidance at 1.090-1.160 EPS. On average, research analysts forecast that DiamondRock Hospitality Company will post 0.96 EPS for the current year.

DiamondRock Hospitality Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 14th. Stockholders of record on Tuesday, June 30th will be paid a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 3.4%. The ex-dividend date of this dividend is Tuesday, June 30th. DiamondRock Hospitality's payout ratio is currently 76.60%.

Insider Buying and Selling at DiamondRock Hospitality

In other news, CAO Steve Spierto sold 4,000 shares of DiamondRock Hospitality stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $9.93, for a total value of $39,720.00. Following the transaction, the chief accounting officer directly owned 77,977 shares of the company's stock, valued at $774,311.61. The trade was a 4.88% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.90% of the stock is owned by corporate insiders.

DiamondRock Hospitality Profile

DiamondRock Hospitality Company is a real estate investment trust (REIT) that acquires, owns and manages a diversified portfolio of upscale, full-service hotels in urban gateway markets across the United States. Established in 2004 and headquartered in Bethesda, Maryland, the company focuses on investing in high-quality lodging properties that cater to both business and leisure travelers. Its assets are positioned in key metropolitan areas, enabling DiamondRock to benefit from strong demand drivers such as corporate travel, group conventions and resort leisure stays.

The company's portfolio includes full-service hotels offering a broad range of amenities, including guest rooms, on-site food and beverage outlets, meeting and event space, fitness centers and spa services.

Want to see what other hedge funds are holding DRH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for DiamondRock Hospitality Company (NYSE:DRH - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.