Engineers Gate Manager LP Has $2.14 Million Stock Holdings in DiamondRock Hospitality Company $DRH

Key Points

• Engineers Gate Manager LP more than doubled its DiamondRock Hospitality stake in the second quarter, increasing holdings by 123.5% to 175,670 shares valued at approximately $2.14 million.
• DiamondRock reported quarterly EPS of $0.44, exceeding the $0.22 consensus estimate, while revenue rose 4.1% year over year to $318.29 million.
• The company increased its quarterly dividend from $0.09 to $0.11 per share, implying a 3.6% annualized yield; analysts maintain a “Moderate Buy” consensus with an average price target of $12.82.

Engineers Gate Manager LP lifted its position in DiamondRock Hospitality Company (NYSE:DRH - Free Report) by 123.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 175,670 shares of the real estate investment trust's stock after buying an additional 97,070 shares during the quarter. Engineers Gate Manager LP owned about 0.09% of DiamondRock Hospitality worth $2,140,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of DRH. Squarepoint Ops LLC bought a new position in DiamondRock Hospitality in the 2nd quarter worth $846,000. Nykredit A S acquired a new stake in shares of DiamondRock Hospitality in the second quarter valued at about $81,000. Corient Private Wealth LP grew its position in shares of DiamondRock Hospitality by 335.2% in the second quarter. Corient Private Wealth LP now owns 58,889 shares of the real estate investment trust's stock valued at $717,000 after purchasing an additional 45,358 shares during the last quarter. HighTower Advisors LLC increased its stake in shares of DiamondRock Hospitality by 317.6% in the second quarter. HighTower Advisors LLC now owns 76,957 shares of the real estate investment trust's stock worth $937,000 after purchasing an additional 58,527 shares during the period. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of DiamondRock Hospitality in the second quarter worth about $3,429,000.

DiamondRock Hospitality Price Performance

NYSE:DRH opened at $12.39 on Wednesday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.64 and a current ratio of 1.64. The company has a 50-day moving average of $12.50 and a 200-day moving average of $11.28. DiamondRock Hospitality Company has a 52 week low of $7.47 and a 52 week high of $13.79. The company has a market capitalization of $2.54 billion, a price-to-earnings ratio of 49.56, a PEG ratio of 4.50 and a beta of 0.97.

DiamondRock Hospitality (NYSE:DRH - Get Free Report) last posted its quarterly earnings results on Thursday, July 30th. The real estate investment trust reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.22. The firm had revenue of $318.29 million during the quarter, compared to analyst estimates of $314.98 million. DiamondRock Hospitality had a net margin of 5.69% and a return on equity of 4.04%. The company's quarterly revenue was up 4.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.35 earnings per share. DiamondRock Hospitality has set its FY 2026 guidance at 1.180-1.230 EPS. As a group, equities research analysts anticipate that DiamondRock Hospitality Company will post 0.96 earnings per share for the current fiscal year.

DiamondRock Hospitality Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 14th. Stockholders of record on Wednesday, September 30th will be issued a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date of this dividend is Wednesday, September 30th. This is a boost from DiamondRock Hospitality's previous quarterly dividend of $0.09. DiamondRock Hospitality's payout ratio is currently 60.27%.

Analysts Set New Price Targets

Several analysts recently weighed in on DRH shares. Citigroup increased their target price on DiamondRock Hospitality from $11.00 to $13.00 and gave the company a "neutral" rating in a research note on Wednesday, July 22nd. Wells Fargo & Company lifted their price target on DiamondRock Hospitality from $12.00 to $13.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 23rd. Stifel Nicolaus upped their price target on DiamondRock Hospitality from $12.50 to $13.25 and gave the stock a "hold" rating in a report on Friday, July 31st. Barclays increased their price objective on DiamondRock Hospitality from $12.00 to $14.00 and gave the company an "equal weight" rating in a research report on Thursday, August 27th. Finally, Truist Financial raised their price objective on shares of DiamondRock Hospitality from $12.00 to $15.00 and gave the stock a "buy" rating in a research note on Thursday, September 10th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $12.82.

About DiamondRock Hospitality

DiamondRock Hospitality Company NYSE: DRH is a self-advised real estate investment trust that owns a portfolio of hotels and resorts in the United States. The company focuses on lodging properties in locations that appeal to business and leisure travelers, including gateway cities, destination resorts and other high-demand markets.

DiamondRock's properties operate under a combination of nationally recognized hotel brands and independent or company-developed concepts. Its portfolio includes full-service hotels, lifestyle properties and resort accommodations, with services such as guest rooms, restaurants, meeting and event facilities, recreational amenities and other hospitality offerings.

The company was formed in 2004 through a spin-off from Marriott International and is headquartered in Bethesda, Maryland.

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