Goldman Sachs Group Inc. Sells 395,981 Shares of 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. cut its stake in DiamondRock Hospitality Company (NYSE:DRH - Free Report) by 27.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,023,434 shares of the real estate investment trust's stock after selling 395,981 shares during the period. Goldman Sachs Group Inc. owned 0.50% of DiamondRock Hospitality worth $7,901,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in DRH. Voya Investment Management LLC boosted its holdings in shares of DiamondRock Hospitality by 5.8% during the 1st quarter. Voya Investment Management LLC now owns 665,423 shares of the real estate investment trust's stock worth $5,137,000 after buying an additional 36,361 shares in the last quarter. Inspire Investing LLC boosted its holdings in shares of DiamondRock Hospitality by 19.6% during the 1st quarter. Inspire Investing LLC now owns 52,946 shares of the real estate investment trust's stock worth $409,000 after buying an additional 8,690 shares in the last quarter. Strs Ohio bought a new position in shares of DiamondRock Hospitality during the 1st quarter worth approximately $304,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of DiamondRock Hospitality by 3.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,327,841 shares of the real estate investment trust's stock worth $10,251,000 after buying an additional 48,558 shares in the last quarter. Finally, United Services Automobile Association bought a new position in shares of DiamondRock Hospitality during the 1st quarter worth approximately $91,000.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on DRH shares. Wells Fargo & Company increased their price target on 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 lowered 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 analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $8.63.

DiamondRock Hospitality Stock Performance

Shares of DRH stock traded up $0.01 on Tuesday, hitting $8.20. 3,732,286 shares of the stock were exchanged, compared to its average volume of 2,425,241. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.64. The firm has a market capitalization of $1.68 billion, a PE ratio of 31.54 and a beta of 1.39. DiamondRock Hospitality Company has a one year low of $6.18 and a one year high of $10.00. The firm's 50 day moving average is $8.11 and its two-hundred day moving average is $7.77.

DiamondRock Hospitality (NYSE:DRH - Get Free Report) last issued 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 the consensus estimate of $303.70 million. During the same quarter last year, the company earned $0.34 EPS. The firm's revenue 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. Sell-side analysts expect that DiamondRock Hospitality Company will post 0.96 earnings per share for the current fiscal year.

DiamondRock Hospitality Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 14th. Stockholders of record on Tuesday, September 30th will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date is Tuesday, September 30th. 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.