Cbre Investment Management Listed Real Assets LLC Has $21.22 Million Stock Holdings in DiamondRock Hospitality Company $DRH

Key Points

• Cbre Investment Management Listed Real Assets LLC increased its stake in DiamondRock Hospitality by 66.7%, now owning 2.7 million shares valued at approximately $21.2 million.
• DiamondRock Hospitality reported better-than-expected earnings per share (EPS) of $0.35 for the last quarter, surpassing estimates of $0.33, although its revenue declined by 1.2% year-over-year.
• The company’s board recently announced a dividend of $0.08 per share, despite a high payout ratio of 123.08% and a dividend yield of 420.0%.

Cbre Investment Management Listed Real Assets LLC lifted its stake in DiamondRock Hospitality Company (NYSE:DRH - Free Report) by 66.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,748,875 shares of the real estate investment trust's stock after buying an additional 1,100,070 shares during the period. Cbre Investment Management Listed Real Assets LLC owned about 1.33% of DiamondRock Hospitality worth $21,221,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of DRH. Versant Capital Management Inc increased its holdings in 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 valued at $29,000 after purchasing an additional 2,256 shares in the last quarter. GF Fund Management CO. LTD. acquired a new stake in DiamondRock Hospitality during the 4th quarter valued at $34,000. State of Wyoming acquired a new stake in DiamondRock Hospitality during the 4th quarter valued at $54,000. Caxton Associates LP acquired a new stake in DiamondRock Hospitality during the 4th quarter valued at $92,000. Finally, Harbor Capital Advisors Inc. increased its holdings in DiamondRock Hospitality by 26.4% during 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 purchasing an additional 2,492 shares in the last quarter.

Analyst Ratings Changes

A number of research analysts have commented on DRH shares. Truist Financial decreased their price objective on DiamondRock Hospitality from $10.00 to $9.00 and set a "hold" rating on the stock in a research report on Friday, May 30th. Stifel Nicolaus increased their price objective on DiamondRock Hospitality from $8.00 to $8.25 and gave the company a "hold" rating in a research report on Friday, May 2nd. Evercore ISI decreased their price objective on DiamondRock Hospitality from $10.00 to $9.00 and set an "in-line" rating on the stock in a research report on Monday, April 28th. Bank of America upgraded 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. Finally, Wells Fargo & Company upgraded DiamondRock Hospitality from a "strong sell" rating to a "hold" rating and raised their price target for the stock from $7.75 to $8.25 in a research report on Tuesday, July 1st. One equities 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, the stock has a consensus rating of "Hold" and an average target price of $8.50.

DiamondRock Hospitality Stock Down 0.3%

Shares of DRH traded down $0.03 during midday trading on Tuesday, hitting $8.37. The stock had a trading volume of 2,981,333 shares, compared to its average volume of 2,754,218. The company has a 50 day simple moving average of $7.91 and a two-hundred day simple moving average of $7.77. DiamondRock Hospitality Company has a twelve month low of $6.18 and a twelve month high of $10.00. The firm has a market cap of $1.71 billion, a price-to-earnings ratio of 8.07 and a beta of 1.41. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.30 and a quick ratio of 1.30.

DiamondRock Hospitality (NYSE:DRH - Get Free Report) last released 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 for 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 company's revenue for the quarter was down 1.2% on a year-over-year basis. During the same quarter last year, the business posted $0.34 EPS. DiamondRock Hospitality has set its FY 2025 guidance at 0.960-1.060 EPS. On average, analysts anticipate that DiamondRock Hospitality Company will post 0.96 EPS for the current 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 $0.08 dividend. The ex-dividend date of this dividend was Monday, June 30th. This represents a dividend yield of 420.0%. DiamondRock Hospitality's payout ratio is currently 123.08%.

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.