Vanguard Group Inc. Has $248.38 Million Stock Holdings in DiamondRock Hospitality Company $DRH

Key Points

• Vanguard Group Inc. has reduced its stake in DiamondRock Hospitality Company by 2.3%, now holding 32 million shares valued at approximately $248 million.
• Several hedge funds have altered their positions, with Centersquare Investment Management increasing its holdings by 12.9%, indicating mixed investor sentiment.
• Analysts' ratings are varied, with Bank of America upgrading the stock to a "buy" and setting a target price of $9.50, while others maintain a "hold" rating with an average target price of $8.50.

Vanguard Group Inc. lessened its position in DiamondRock Hospitality Company (NYSE:DRH - Free Report) by 2.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 32,173,954 shares of the real estate investment trust's stock after selling 746,451 shares during the quarter. Vanguard Group Inc. owned about 15.41% of DiamondRock Hospitality worth $248,383,000 at the end of the most recent quarter.

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

DiamondRock Hospitality Price Performance

Shares of NYSE:DRH traded up $0.4150 during midday trading on Friday, reaching $8.4550. 2,544,785 shares of the company's stock were exchanged, compared to its average volume of 2,782,171. 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 50 day simple moving average is $7.88 and its two-hundred day simple moving average is $7.78. DiamondRock Hospitality Company has a 12 month low of $6.18 and a 12 month high of $10.00. The firm has a market capitalization of $1.73 billion, a PE ratio of 32.52 and a beta of 1.41.

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

DiamondRock Hospitality Cuts Dividend

The business also recently announced 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 dividend yield of 420.0%. The ex-dividend date was Monday, June 30th. DiamondRock Hospitality's dividend payout ratio (DPR) is 123.08%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on DRH shares. Wells Fargo & Company raised shares of DiamondRock Hospitality from a "strong sell" rating to a "hold" rating and boosted their target price for the stock 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 price target on the stock in a research report on Wednesday, April 30th. 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 research report on Friday, May 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 note on Friday, May 2nd. Finally, Evercore ISI lowered their price target on DiamondRock Hospitality from $10.00 to $9.00 and set an "in-line" rating on the stock in a research note on Monday, April 28th. One analyst has rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average 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.