Dynamic Technology Lab Private Ltd Buys Shares of 52,194 DiamondRock Hospitality Company $DRH

Key Points

• Dynamic Technology Lab Private Ltd has acquired a stake of 52,194 shares in DiamondRock Hospitality Company, valued at approximately $403,000.
• Analyst ratings for DiamondRock Hospitality show a mix, with a target price increase from $8.25 to $9.00 by Wells Fargo, while Truist Financial cut their target from $10.00 to $9.00.
• The company declared a quarterly dividend of $0.08 per share, implying an annual yield of 3.8%.

Dynamic Technology Lab Private Ltd acquired a new stake in shares of DiamondRock Hospitality Company (NYSE:DRH - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 52,194 shares of the real estate investment trust's stock, valued at approximately $403,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Nissay Asset Management Corp Japan ADV raised its stake in DiamondRock Hospitality by 4.0% during the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 31,738 shares of the real estate investment trust's stock valued at $292,000 after buying an additional 1,216 shares in the last quarter. Illinois Municipal Retirement Fund raised its stake in DiamondRock Hospitality by 1.8% during the first quarter. Illinois Municipal Retirement Fund now owns 107,860 shares of the real estate investment trust's stock valued at $833,000 after buying an additional 1,873 shares in the last quarter. Wolverine Asset Management LLC raised its stake in DiamondRock Hospitality by 2.4% during the first quarter. Wolverine Asset Management LLC now owns 86,304 shares of the real estate investment trust's stock valued at $666,000 after buying an additional 2,016 shares in the last quarter. Versant Capital Management Inc raised its stake in DiamondRock Hospitality by 156.3% during 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 buying an additional 2,256 shares in the last quarter. Finally, Sei Investments Co. raised its stake in DiamondRock Hospitality by 0.6% during the first quarter. Sei Investments Co. now owns 360,243 shares of the real estate investment trust's stock valued at $2,781,000 after buying an additional 2,311 shares in the last quarter.

DiamondRock Hospitality Stock Up 0.4%

Shares of DRH traded up $0.04 during mid-day trading on Wednesday, reaching $8.25. The company's stock had a trading volume of 341,270 shares, compared to its average volume of 2,652,990. The business has a fifty day moving average of $8.11 and a 200 day moving average of $7.77. The company has a market cap of $1.69 billion, a price-to-earnings ratio of 31.75 and a beta of 1.39. DiamondRock Hospitality Company has a 1 year low of $6.18 and a 1 year high of $10.00. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.64.

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, beating analysts' consensus estimates of $0.33 by $0.02. DiamondRock Hospitality had a return on equity of 4.23% and a net margin of 6.04%.The company 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 company earned $0.34 earnings per share. The company's revenue for the quarter was down 1.2% on a year-over-year basis. DiamondRock Hospitality has set its FY 2025 guidance at 0.960-1.060 EPS. As a group, analysts forecast that DiamondRock Hospitality Company will post 0.96 earnings per share for the current fiscal year.

DiamondRock Hospitality Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 14th. Shareholders of record on Tuesday, September 30th will be issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 3.9%. The ex-dividend date is Tuesday, September 30th. DiamondRock Hospitality's dividend payout ratio (DPR) is 123.08%.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Wells Fargo & Company upped their price objective on DiamondRock Hospitality from $8.25 to $9.00 and gave the company an "equal weight" rating in a research note on Wednesday, August 27th. Truist Financial dropped their price target 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. One equities research analyst has rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, DiamondRock Hospitality currently has a consensus rating of "Hold" and a consensus price target of $8.63.

DiamondRock Hospitality 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.