Hsbc Holdings PLC acquired a new stake in DiamondRock Hospitality Company (NYSE:DRH - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 696,687 shares of the real estate investment trust's stock, valued at approximately $8,490,000. Hsbc Holdings PLC owned approximately 0.34% of DiamondRock Hospitality at the end of the most recent reporting period.
A number of other hedge funds have also made changes to their positions in the stock. BlackRock Inc. bought a new stake in DiamondRock Hospitality during the second quarter worth approximately $475,282,000. Cohen & Steers Inc. bought a new position in DiamondRock Hospitality during the 4th quarter valued at $59,231,000. Pzena Investment Management LLC bought a new position in DiamondRock Hospitality during the 2nd quarter valued at $34,464,000. SG Americas Securities LLC increased its position in shares of 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 valued at $39,098,000 after purchasing an additional 2,147,881 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its position in shares of 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 during the period.
Insider Buying and Selling at DiamondRock Hospitality
In related 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 value of $237,600.00. Following the transaction, the director owned 84,335 shares of the company's stock, valued at approximately $1,001,899.80. This trade represents a 19.17% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.90% of the stock is owned by company insiders.
Analysts Set New Price Targets
Several analysts have recently weighed in on DRH shares. Wells Fargo & Company upped their price objective on DiamondRock Hospitality from $12.00 to $13.00 and gave the company an "equal weight" rating in a report on Thursday, July 23rd. Barclays lifted their target price on DiamondRock Hospitality from $12.00 to $14.00 and gave the stock an "equal weight" rating in a report on Thursday. Zacks Research upgraded shares of DiamondRock Hospitality from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, August 19th. LADENBURG THALM/SH SH upped their price target on shares of DiamondRock Hospitality from $13.00 to $14.00 and gave the company a "buy" rating in a report on Thursday, June 18th. Finally, Truist Financial raised their price objective on shares of DiamondRock Hospitality from $11.00 to $12.00 and gave the company a "buy" rating in a research report on Tuesday, May 26th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and seven have issued a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $12.53.
View Our Latest Report on DRH
DiamondRock Hospitality Price Performance
Shares of NYSE:DRH opened at $12.70 on Friday. DiamondRock Hospitality Company has a one year low of $7.47 and a one year high of $13.79. The stock has a fifty day moving average of $12.49 and a 200-day moving average of $11.08. The company has a market capitalization of $2.60 billion, a PE ratio of 50.80, a price-to-earnings-growth ratio of 4.50 and a beta of 0.98. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.64 and a current ratio of 1.64.
DiamondRock Hospitality (NYSE:DRH - Get Free Report) last released its quarterly earnings data 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. The business had revenue of $318.29 million during the quarter, compared to analyst estimates of $314.98 million. DiamondRock Hospitality had a return on equity of 4.04% and a net margin of 5.69%.The company's revenue was up 4.1% compared to the same quarter last year. During the same period last year, the company posted $0.35 EPS. DiamondRock Hospitality has set its FY 2026 guidance at 1.180-1.230 EPS. As a group, equities analysts anticipate that DiamondRock Hospitality Company will post 0.96 EPS for the current fiscal year.
DiamondRock Hospitality Increases Dividend
The business also recently declared 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 is a positive change from DiamondRock Hospitality's previous quarterly dividend of $0.09. The ex-dividend date is Wednesday, September 30th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 3.5%. DiamondRock Hospitality's dividend payout ratio is 60.27%.
DiamondRock Hospitality Profile
(
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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