Nuveen LLC Invests $18.26 Million in DiamondRock Hospitality Company $DRH

Key Points

• Nuveen LLC acquired a significant stake in DiamondRock Hospitality, purchasing 2,365,483 shares valued at around $18.26 million, which accounts for about 1.15% of the company's total shares.
• DiamondRock Hospitality recently reported earnings of $0.35 EPS, exceeding analyst expectations, with quarterly revenues totaling $305.70 million, though this marked a 1.2% decrease year-over-year.
• The company has set its FY 2025 earnings guidance between $0.960 and $1.060 EPS, as analysts project a similar performance for the current year.

Nuveen LLC bought a new position in shares of DiamondRock Hospitality Company (NYSE:DRH - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,365,483 shares of the real estate investment trust's stock, valued at approximately $18,262,000. Nuveen LLC owned 1.15% of DiamondRock Hospitality at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. Nissay Asset Management Corp Japan ADV lifted its position in DiamondRock Hospitality by 4.0% during the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 31,738 shares of the real estate investment trust's stock worth $292,000 after buying an additional 1,216 shares during the period. Ancora Advisors LLC increased its stake in DiamondRock Hospitality by 0.9% during the fourth quarter. Ancora Advisors LLC now owns 164,150 shares of the real estate investment trust's stock worth $1,482,000 after acquiring an additional 1,490 shares during the last quarter. Illinois Municipal Retirement Fund increased its stake in DiamondRock Hospitality by 1.8% during the first quarter. Illinois Municipal Retirement Fund now owns 107,860 shares of the real estate investment trust's stock worth $833,000 after acquiring an additional 1,873 shares during the last quarter. Wolverine Asset Management LLC increased its stake in DiamondRock Hospitality by 2.4% during the first quarter. Wolverine Asset Management LLC now owns 86,304 shares of the real estate investment trust's stock worth $666,000 after acquiring an additional 2,016 shares during the last quarter. Finally, Versant Capital Management Inc increased its stake in DiamondRock Hospitality by 156.3% during the first quarter. Versant Capital Management Inc now owns 3,699 shares of the real estate investment trust's stock worth $29,000 after acquiring an additional 2,256 shares during the last quarter.

DiamondRock Hospitality Stock Up 5.2%

Shares of NYSE:DRH traded up $0.4150 during mid-day trading on Friday, hitting $8.4550. 2,544,785 shares of the company traded hands, compared to its average volume of 2,782,171. The firm has a market cap of $1.73 billion, a P/E ratio of 32.52 and a beta of 1.41. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.30 and a current ratio of 1.30. DiamondRock Hospitality Company has a 52-week low of $6.18 and a 52-week high of $10.00. The firm's 50 day simple moving average is $7.88 and its 200 day simple moving average is $7.78.

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, beating analysts' consensus estimates of $0.33 by $0.02. DiamondRock Hospitality had a return on equity of 4.23% and a net margin of 6.04%.The firm had revenue of $305.70 million during the quarter, compared to analyst estimates of $303.70 million. During the same quarter last year, the firm earned $0.34 EPS. DiamondRock Hospitality's quarterly revenue was down 1.2% on a year-over-year basis. DiamondRock Hospitality has set its FY 2025 guidance at 0.960-1.060 EPS. On average, equities analysts anticipate that DiamondRock Hospitality Company will post 0.96 EPS for the current year.

DiamondRock Hospitality Cuts Dividend

The firm also recently disclosed a dividend, which was paid on Friday, July 11th. Shareholders of record on Tuesday, July 1st were paid a dividend of $0.08 per share. This represents a yield of 420.0%. The ex-dividend date was Monday, June 30th. DiamondRock Hospitality's dividend payout ratio (DPR) is 123.08%.

Wall Street Analysts Forecast Growth

DRH has been the subject of several research analyst reports. Stifel Nicolaus upped their price target on DiamondRock Hospitality from $8.00 to $8.25 and gave the stock a "hold" rating in a research note on Friday, May 2nd. Evercore ISI dropped their price target on DiamondRock Hospitality from $10.00 to $9.00 and set an "in-line" rating for the company in a research note on Monday, April 28th. Truist Financial dropped their price target on DiamondRock Hospitality from $10.00 to $9.00 and set a "hold" rating for the company in a research note on Friday, May 30th. Wells Fargo & Company upgraded DiamondRock Hospitality from a "strong sell" rating to a "hold" rating and raised their target price for the company from $7.75 to $8.25 in a report on Tuesday, July 1st. Finally, Bank of America upgraded DiamondRock Hospitality from an "underperform" rating to a "buy" rating and set a $9.50 target price on the stock in a report on Wednesday, April 30th. One research analyst has rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $8.50.

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.