Great Lakes Advisors LLC purchased a new position in DiamondRock Hospitality Company (NYSE:DRH - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 267,516 shares of the real estate investment trust's stock, valued at approximately $3,258,000. Great Lakes Advisors LLC owned 0.13% of DiamondRock Hospitality at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. BlackRock Inc. bought a new position in DiamondRock Hospitality in the 2nd quarter worth about $475,282,000. Cohen & Steers Inc. bought a new position in DiamondRock Hospitality in the fourth quarter worth approximately $59,231,000. Pzena Investment Management LLC bought a new position in DiamondRock Hospitality in the second quarter worth approximately $34,464,000. SG Americas Securities LLC increased its holdings in DiamondRock Hospitality by 106.1% during the 1st quarter. SG Americas Securities LLC now owns 4,172,671 shares of the real estate investment trust's stock worth $39,098,000 after purchasing an additional 2,147,881 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund raised its position in DiamondRock Hospitality by 907.2% during the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,292,360 shares of the real estate investment trust's stock valued at $20,540,000 after purchasing an additional 2,064,760 shares in the last quarter.
Insider Transactions at DiamondRock Hospitality
In other DiamondRock Hospitality news, Director Kathleen Merrill sold 20,000 shares of DiamondRock Hospitality stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $11.88, for a total transaction of $237,600.00. Following the completion of the sale, the director owned 84,335 shares of the company's stock, valued at approximately $1,001,899.80. The trade was a 19.17% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.90% of the stock is owned by company insiders.
DiamondRock Hospitality Trading Up 0.4%
Shares of NYSE:DRH opened at $12.77 on Friday. The business's 50-day moving average is $12.41 and its 200 day moving average is $10.95. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.64 and a quick ratio of 1.64. DiamondRock Hospitality Company has a 1 year low of $7.47 and a 1 year high of $13.79. The firm has a market capitalization of $2.61 billion, a P/E ratio of 51.08, a P/E/G ratio of 4.50 and a beta of 0.98.
DiamondRock Hospitality (NYSE:DRH - Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The real estate investment trust reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.22. DiamondRock Hospitality had a return on equity of 4.04% and a net margin of 5.69%.The business had revenue of $318.29 million during the quarter, compared to the consensus estimate of $314.98 million. During the same quarter last year, the company earned $0.35 earnings per share. The company's quarterly revenue was up 4.1% on a year-over-year basis. DiamondRock Hospitality has set its FY 2026 guidance at 1.180-1.230 EPS. On average, research analysts predict that DiamondRock Hospitality Company will post 0.96 earnings per share for the current fiscal year.
DiamondRock Hospitality Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 14th. Investors of record on Wednesday, September 30th will be given a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 3.4%. The ex-dividend date of this dividend is Wednesday, September 30th. This is a positive change from DiamondRock Hospitality's previous quarterly dividend of $0.09. DiamondRock Hospitality's payout ratio is currently 60.27%.
Wall Street Analysts Forecast Growth
DRH has been the subject of several recent research reports. Stifel Nicolaus lifted their price objective on DiamondRock Hospitality from $12.50 to $13.25 and gave the company a "hold" rating in a report on Friday, July 31st. Truist Financial upped their price target on shares of DiamondRock Hospitality from $11.00 to $12.00 and gave the stock a "buy" rating in a research report on Tuesday, May 26th. Morgan Stanley lifted their price objective on shares of DiamondRock Hospitality from $10.00 to $11.00 and gave the company an "equal weight" rating in a report on Tuesday. Bank of America upped their target price on DiamondRock Hospitality from $12.50 to $13.00 and gave the stock a "buy" rating in a report on Monday, July 20th. Finally, Citigroup boosted their price target on DiamondRock Hospitality from $11.00 to $13.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 22nd. Four analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $12.32.
Get Our Latest Stock Analysis on DiamondRock Hospitality
About DiamondRock Hospitality
(
Free Report)
DiamondRock Hospitality Company is a real estate investment trust (REIT) that acquires, owns and manages a diversified portfolio of upscale, full-service hotels in urban gateway markets across the United States. Established in 2004 and headquartered in Bethesda, Maryland, the company focuses on investing in high-quality lodging properties that cater to both business and leisure travelers. Its assets are positioned in key metropolitan areas, enabling DiamondRock to benefit from strong demand drivers such as corporate travel, group conventions and resort leisure stays.
The company's portfolio includes full-service hotels offering a broad range of amenities, including guest rooms, on-site food and beverage outlets, meeting and event space, fitness centers and spa services.
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