DiamondRock Hospitality Company $DRH Shares Purchased by Hotchkis & Wiley Capital Management LLC

Key Points

• Hotchkis & Wiley Capital Management LLC increased its stake in DiamondRock Hospitality Company by 46.1%, owning approximately 1,136,920 shares valued at about $8.8 million.
• Analysts have recently adjusted their ratings and price targets for DiamondRock, with a consensus rating of "Hold" and an average target price of $8.50.
• DiamondRock Hospitality reported $0.35 EPS for the recent quarter, slightly exceeding estimates, though its revenue decreased 1.2% year-over-year.

Hotchkis & Wiley Capital Management LLC increased its stake in shares of DiamondRock Hospitality Company (NYSE:DRH - Free Report) by 46.1% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 1,136,920 shares of the real estate investment trust's stock after purchasing an additional 358,920 shares during the quarter. Hotchkis & Wiley Capital Management LLC owned 0.55% of DiamondRock Hospitality worth $8,777,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of DRH. Bank of America Corp DE increased its position in shares of DiamondRock Hospitality by 78.8% during the 4th quarter. Bank of America Corp DE now owns 6,953,022 shares of the real estate investment trust's stock valued at $62,786,000 after purchasing an additional 3,064,117 shares during the last quarter. Nuveen LLC bought a new position in shares of DiamondRock Hospitality during the 1st quarter valued at approximately $18,262,000. Deutsche Bank AG increased its position in shares of DiamondRock Hospitality by 723.6% during 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 last quarter. Alyeska Investment Group L.P. increased its position in shares of DiamondRock Hospitality by 16.3% during the 4th quarter. Alyeska Investment Group L.P. now owns 8,576,077 shares of the real estate investment trust's stock valued at $77,442,000 after purchasing an additional 1,201,955 shares during the last quarter. Finally, Cbre Investment Management Listed Real Assets LLC increased 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 valued at $21,221,000 after purchasing an additional 1,100,070 shares during the last quarter.

DiamondRock Hospitality Stock Down 0.1%

Shares of DRH stock traded down $0.01 during mid-day trading on Thursday, hitting $8.59. The stock had a trading volume of 1,884,436 shares, compared to its average volume of 2,651,589. DiamondRock Hospitality Company has a 12-month low of $6.18 and a 12-month high of $10.00. The firm has a market capitalization of $1.76 billion, a P/E ratio of 33.02 and a beta of 1.41. The firm's 50-day moving average is $7.93 and its two-hundred day moving average is $7.78. 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 (NYSE:DRH - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The real estate investment trust reported $0.35 earnings per share for the quarter, topping analysts' consensus estimates of $0.33 by $0.02. The firm had revenue of $305.70 million during the quarter, compared to analysts' expectations of $303.70 million. DiamondRock Hospitality had a return on equity of 4.23% and a net margin of 6.04%.The firm's quarterly revenue was down 1.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.34 EPS. DiamondRock Hospitality has set its FY 2025 guidance at 0.960-1.060 EPS. On average, analysts predict that DiamondRock Hospitality Company will post 0.96 earnings per share for the current fiscal year.

DiamondRock Hospitality Dividend Announcement

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

Analyst Upgrades and Downgrades

DRH has been the subject of a number of recent analyst reports. Wells Fargo & Company boosted their price objective on DiamondRock Hospitality from $8.25 to $9.00 and gave the company an "equal weight" rating in a report on Wednesday. Bank of America upgraded DiamondRock Hospitality from an "underperform" rating to a "buy" rating and set a $9.50 price objective for the company in a report on Wednesday, April 30th. Truist Financial dropped their price objective on DiamondRock Hospitality from $10.00 to $9.00 and set a "hold" rating for the company in a report on Friday, May 30th. Finally, Stifel Nicolaus boosted their price objective on DiamondRock Hospitality from $8.00 to $8.25 and gave the company a "hold" rating in a report on Friday, May 2nd. One research analyst has rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $8.63.

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.