DiamondRock Hospitality Company $DRH Shares Purchased by Public Sector Pension Investment Board

Key Points

• The Public Sector Pension Investment Board increased its stake in DiamondRock Hospitality Company by 27.3%, owning approximately 0.32% valued at $5.08 million as of its latest SEC filing.
• Wall Street analysts have varying ratings for DiamondRock, with the consensus rating at "Hold" and an average price target of $8.50.
• DiamondRock Hospitality reported quarterly earnings that surpassed expectations, posting a net revenue of $305.70 million and earnings per share of $0.35, while also experiencing a 1.2% decline in revenue year-over-year.

Public Sector Pension Investment Board increased its holdings in DiamondRock Hospitality Company (NYSE:DRH - Free Report) by 27.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 658,333 shares of the real estate investment trust's stock after buying an additional 141,168 shares during the period. Public Sector Pension Investment Board owned 0.32% of DiamondRock Hospitality worth $5,082,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of DRH. Bank of America Corp DE boosted its holdings in DiamondRock Hospitality by 78.8% in the 4th quarter. Bank of America Corp DE now owns 6,953,022 shares of the real estate investment trust's stock valued at $62,786,000 after purchasing an additional 3,064,117 shares during the period. Nuveen LLC purchased a new stake in shares of DiamondRock Hospitality during the 1st quarter valued at $18,262,000. Deutsche Bank AG raised its position in shares of DiamondRock Hospitality by 723.6% during the 1st quarter. Deutsche Bank AG now owns 2,268,828 shares of the real estate investment trust's stock valued at $17,515,000 after buying an additional 1,993,345 shares in the last quarter. Alyeska Investment Group L.P. grew its holdings in shares of DiamondRock Hospitality by 16.3% during the 4th quarter. Alyeska Investment Group L.P. now owns 8,576,077 shares of the real estate investment trust's stock valued at $77,442,000 after purchasing an additional 1,201,955 shares during the last quarter. Finally, Lasalle Investment Management Securities LLC bought a new position in shares of DiamondRock Hospitality during the 4th quarter valued at $9,982,000.

DiamondRock Hospitality Price Performance

NYSE DRH traded up $0.3550 on Friday, hitting $8.3950. The company had a trading volume of 444,175 shares, compared to its average volume of 2,644,670. DiamondRock Hospitality Company has a 12-month low of $6.18 and a 12-month high of $10.00. The company has a market capitalization of $1.72 billion, a PE ratio of 32.25 and a beta of 1.41. The company's fifty day moving average price is $7.86 and its 200-day moving average price is $7.78. 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 earnings results on Thursday, August 7th. The real estate investment trust reported $0.35 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.33 by $0.02. DiamondRock Hospitality had a net margin of 6.04% and a return on equity of 4.23%. The business had revenue of $305.70 million during the quarter, compared to analyst estimates of $303.70 million. During the same quarter in the prior year, the firm earned $0.34 earnings per share. The company's revenue for the quarter was down 1.2% compared to the same quarter last year. DiamondRock Hospitality has set its FY 2025 guidance at 0.960-1.060 EPS. As a group, analysts predict that DiamondRock Hospitality Company will post 0.96 earnings per share for the current year.

DiamondRock Hospitality Cuts Dividend

The company also recently announced a dividend, which was paid on Friday, July 11th. Investors of record on Tuesday, July 1st were issued a $0.08 dividend. The ex-dividend date of this dividend was Monday, June 30th. This represents a yield of 420.0%. DiamondRock Hospitality's dividend payout ratio (DPR) is 123.08%.

Analyst Upgrades and Downgrades

DRH has been the topic of several research reports. Truist Financial dropped their price objective on shares of DiamondRock Hospitality from $10.00 to $9.00 and set a "hold" rating on the stock in a research note on Friday, May 30th. Bank of America raised shares of DiamondRock Hospitality from an "underperform" rating to a "buy" rating and set a $9.50 target price for the company in a research note on Wednesday, April 30th. Stifel Nicolaus increased their price objective on shares of DiamondRock Hospitality from $8.00 to $8.25 and gave the company a "hold" rating in a research report on Friday, May 2nd. Wells Fargo & Company upgraded shares of DiamondRock Hospitality from a "strong sell" rating to a "hold" rating and raised their target price for the stock from $7.75 to $8.25 in a report on Tuesday, July 1st. Finally, Evercore ISI cut their target price on shares of 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. One research analyst has rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus 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.