Goldman Sachs Group Inc. Has $7.90 Million Holdings in DiamondRock Hospitality Company $DRH

Key Points

• Goldman Sachs Group Inc. has reduced its stake in DiamondRock Hospitality Company by 27.9%, now owning approximately 1,023,434 shares valued at $7.9 million.
• DiamondRock Hospitality reported a net margin of 6.04% and EPS of $0.35 for the last quarter, exceeding estimates while experiencing a 1.2% revenue decline year-over-year.
• The company recently declared a quarterly dividend of $0.08 per share, indicating a 3.8% yield, despite a high dividend payout ratio of 123.08%.

Goldman Sachs Group Inc. lessened its position in DiamondRock Hospitality Company (NYSE:DRH - Free Report) by 27.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,023,434 shares of the real estate investment trust's stock after selling 395,981 shares during the quarter. Goldman Sachs Group Inc. owned approximately 0.50% of DiamondRock Hospitality worth $7,901,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Nuveen LLC purchased a new stake in DiamondRock Hospitality during the 1st quarter worth about $18,262,000. Deutsche Bank AG boosted its position in shares of DiamondRock Hospitality by 723.6% in 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 purchasing an additional 1,993,345 shares during the period. H 2 Credit Manager LP lifted its position in DiamondRock Hospitality by 35.6% during the 1st quarter. H 2 Credit Manager LP now owns 5,075,150 shares of the real estate investment trust's stock worth $39,180,000 after acquiring an additional 1,333,705 shares during the period. Cbre Investment Management Listed Real Assets LLC lifted its position in DiamondRock Hospitality by 66.7% during the 1st quarter. Cbre Investment Management Listed Real Assets LLC now owns 2,748,875 shares of the real estate investment trust's stock worth $21,221,000 after acquiring an additional 1,100,070 shares during the period. Finally, Sophron Capital Management L.P. acquired a new stake in DiamondRock Hospitality during the 4th quarter worth approximately $9,811,000.

Wall Street Analysts Forecast Growth

DRH has been the subject of a number of analyst reports. Wells Fargo & Company increased their target price on DiamondRock Hospitality from $8.25 to $9.00 and gave the stock 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 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 assigned a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $8.63.

DiamondRock Hospitality Price Performance

DRH traded down $0.11 during trading on Friday, reaching $8.23. The stock had a trading volume of 638,916 shares, compared to its average volume of 2,660,865. The firm has a market capitalization of $1.69 billion, a price-to-earnings ratio of 31.64 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 stock has a 50 day moving average of $8.12 and a two-hundred day moving average of $7.78. 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 announced its 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 company had revenue of $305.70 million for the quarter, compared to the consensus estimate of $303.70 million. DiamondRock Hospitality had a net margin of 6.04% and a return on equity of 4.23%. The company's revenue was down 1.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.34 EPS. DiamondRock Hospitality has set its FY 2025 guidance at 0.960-1.060 EPS. As a group, equities analysts anticipate that DiamondRock Hospitality Company will post 0.96 EPS for the current fiscal year.

DiamondRock Hospitality Announces Dividend

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

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.