DiamondRock Hospitality Company $DRH Shares Acquired by Martingale Asset Management L P

Key Points

• Martingale Asset Management increased its stake in DiamondRock Hospitality by 151.1%, acquiring an additional 130,451 shares during the first quarter, bringing their total holdings to 216,810 shares valued at approximately $1.67 million.
• DiamondRock Hospitality reported earnings of $0.35 EPS for the last quarter, exceeding expectations and indicating a quarterly revenue of $305.70 million, although down 1.2% year-over-year.
• The company recently announced a dividend payout of $0.08 per share, resulting in a high yield of 420.0%, but with a dividend payout ratio of 123.08%.

Martingale Asset Management L P raised its holdings in DiamondRock Hospitality Company (NYSE:DRH - Free Report) by 151.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 216,810 shares of the real estate investment trust's stock after purchasing an additional 130,451 shares during the period. Martingale Asset Management L P owned about 0.11% of DiamondRock Hospitality worth $1,674,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC grew its holdings in DiamondRock Hospitality by 54.6% in the first quarter. Allspring Global Investments Holdings LLC now owns 91,486 shares of the real estate investment trust's stock valued at $705,000 after purchasing an additional 32,298 shares during the period. Oppenheimer Asset Management Inc. purchased a new position in shares of DiamondRock Hospitality in the first quarter valued at approximately $103,000. Envestnet Asset Management Inc. purchased a new position in shares of DiamondRock Hospitality in the first quarter valued at approximately $395,000. Principal Financial Group Inc. lifted its position in shares of DiamondRock Hospitality by 2.3% in the first quarter. Principal Financial Group Inc. now owns 1,034,246 shares of the real estate investment trust's stock valued at $7,984,000 after acquiring an additional 23,653 shares in the last quarter. Finally, Deutsche Bank AG lifted its position in shares of DiamondRock Hospitality by 24.8% in the fourth quarter. Deutsche Bank AG now owns 275,483 shares of the real estate investment trust's stock valued at $2,488,000 after acquiring an additional 54,794 shares in the last quarter.

DiamondRock Hospitality Trading Down 1.0%

DiamondRock Hospitality stock traded down $0.09 during trading on Friday, reaching $8.50. 411,990 shares of the company were exchanged, compared to its average volume of 2,637,514. DiamondRock Hospitality Company has a 52-week low of $6.18 and a 52-week high of $10.00. The company has a market capitalization of $1.74 billion, a P/E ratio of 32.64 and a beta of 1.41. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.30 and a quick ratio of 1.30. The stock's 50 day simple moving average is $7.95 and its two-hundred day simple moving average is $7.78.

DiamondRock Hospitality (NYSE:DRH - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The real estate investment trust reported $0.35 EPS for the quarter, topping analysts' consensus estimates of $0.33 by $0.02. The firm had revenue of $305.70 million for the quarter, compared to the consensus estimate of $303.70 million. DiamondRock Hospitality had a return on equity of 4.23% and a net margin of 6.04%.The firm's revenue was down 1.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.34 earnings per share. DiamondRock Hospitality has set its FY 2025 guidance at 0.960-1.060 EPS. On average, equities research analysts expect that DiamondRock Hospitality Company will post 0.96 earnings per share for the current fiscal year.

DiamondRock Hospitality Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 14th. Investors of record on Tuesday, September 30th will be issued a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 3.8%. The ex-dividend date is Tuesday, September 30th. DiamondRock Hospitality's payout ratio is currently 123.08%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on DRH shares. Truist Financial decreased their target price on DiamondRock Hospitality from $10.00 to $9.00 and set a "hold" rating on the stock in a research report on Friday, May 30th. Wells Fargo & Company raised their target price on DiamondRock Hospitality from $8.25 to $9.00 and gave the company an "equal weight" rating in a research report on Wednesday. Finally, Stifel Nicolaus raised their target price on DiamondRock Hospitality from $8.00 to $8.25 and gave the company a "hold" rating in a research report on Friday, May 2nd. One investment analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target 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.