Graham Capital Management L.P. Purchases 102,213 Shares of DiamondRock Hospitality Company $DRH

Key Points

• Graham Capital Management L.P. increased its stake in DiamondRock Hospitality Company by 44.7%, owning approximately 330,965 shares, worth $2.55 million, as of the latest SEC filing.
• DiamondRock Hospitality announced a quarterly dividend of $0.08 per share, yielding 3.7%, with the ex-dividend date set for September 30th.
• Wall Street analysts give DiamondRock Hospitality an average rating of "Hold", with a target price of $8.63, although estimates of growth are mixed due to recent quarterly revenue declines.

Graham Capital Management L.P. raised its stake in DiamondRock Hospitality Company (NYSE:DRH - Free Report) by 44.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 330,965 shares of the real estate investment trust's stock after acquiring an additional 102,213 shares during the quarter. Graham Capital Management L.P. owned about 0.16% of DiamondRock Hospitality worth $2,555,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC grew its position in shares of DiamondRock Hospitality by 54.6% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 91,486 shares of the real estate investment trust's stock worth $705,000 after buying an additional 32,298 shares during the period. Cbre Investment Management Listed Real Assets LLC grew its position in shares of 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 buying an additional 1,100,070 shares during the period. Oppenheimer Asset Management Inc. acquired a new stake in shares of DiamondRock Hospitality during the 1st quarter worth approximately $103,000. Envestnet Asset Management Inc. acquired a new stake in shares of DiamondRock Hospitality during the 1st quarter worth approximately $395,000. Finally, Principal Financial Group Inc. grew its position in shares of DiamondRock Hospitality by 2.3% during the 1st quarter. Principal Financial Group Inc. now owns 1,034,246 shares of the real estate investment trust's stock worth $7,984,000 after buying an additional 23,653 shares during the period.

Analysts Set New Price Targets

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

DiamondRock Hospitality Stock Down 0.3%

NYSE:DRH traded down $0.03 on Friday, hitting $8.58. 2,212,023 shares of the company's stock were exchanged, compared to its average volume of 2,445,280. The firm has a 50-day moving average price of $8.05 and a 200-day moving average price of $7.77. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.30 and a quick ratio of 1.30. DiamondRock Hospitality Company has a 52 week low of $6.18 and a 52 week high of $10.00. The company has a market cap of $1.76 billion, a P/E ratio of 32.98 and a beta of 1.39.

DiamondRock Hospitality (NYSE:DRH - Get Free Report) last issued its quarterly 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 net margin of 6.04% and a return on equity of 4.23%. The firm had revenue of $305.70 million for the quarter, compared to analysts' expectations of $303.70 million. During the same period in the previous year, the firm posted $0.34 EPS. 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 expect that DiamondRock Hospitality Company will post 0.96 EPS for the current fiscal year.

DiamondRock Hospitality Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 14th. Stockholders of record on Tuesday, September 30th will be given a $0.08 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $0.32 annualized dividend and a dividend yield of 3.7%. DiamondRock Hospitality's dividend payout ratio is presently 123.08%.

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.