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

Several other institutional investors have also recently added to or reduced their stakes in the company. Versant Capital Management Inc raised its stake in shares of 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 worth $29,000 after buying an additional 2,256 shares during the last quarter. GF Fund Management CO. LTD. bought a new position in DiamondRock Hospitality during the fourth quarter worth about $34,000. State of Wyoming bought a new stake in shares of DiamondRock Hospitality in the fourth quarter worth about $54,000. DRW Securities LLC bought a new position in shares of DiamondRock Hospitality during the 1st quarter valued at about $84,000. Finally, Harbor Capital Advisors Inc. grew its position in shares of DiamondRock Hospitality by 26.4% in 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 during the period.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Wells Fargo & Company raised their price objective on shares of DiamondRock Hospitality from $8.25 to $9.00 and gave the stock an "equal weight" rating in a report on Wednesday, August 27th. Truist Financial reduced their price objective on DiamondRock Hospitality from $10.00 to $9.00 and set a "hold" rating for the company in a research report on Friday, May 30th. One investment analyst has rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $8.63.

DiamondRock Hospitality Trading Down 0.4%

Shares of DRH stock traded down $0.04 on Tuesday, hitting $8.16. The company had a trading volume of 1,834,587 shares, compared to its average volume of 2,655,257. The stock's 50-day moving average is $8.10 and its two-hundred day moving average is $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 $1.67 billion, a P/E ratio of 31.37 and a beta of 1.39. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.30 and a current 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 EPS for the quarter, topping the consensus estimate of $0.33 by $0.02. DiamondRock Hospitality had a return on equity of 4.23% and a net margin of 6.04%.The business had revenue of $305.70 million during the quarter, compared to analysts' expectations of $303.70 million. During the same quarter last year, the firm posted $0.34 earnings per share. The firm's revenue was down 1.2% on a year-over-year basis. DiamondRock Hospitality has set its FY 2025 guidance at 0.960-1.060 EPS. On average, equities research analysts anticipate that DiamondRock Hospitality Company will post 0.96 earnings per share for the current fiscal year.

DiamondRock Hospitality Dividend Announcement

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