Nuveen LLC Makes New $18.26 Million Investment 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 acquired a new position in shares of DiamondRock Hospitality Company (NYSE:DRH - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 2,365,483 shares of the real estate investment trust's stock, valued at approximately $18,262,000. Nuveen LLC owned about 1.15% of DiamondRock Hospitality as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of DRH. Versant Capital Management Inc raised its position in shares of DiamondRock Hospitality by 156.3% in the first quarter. Versant Capital Management Inc now owns 3,699 shares of the real estate investment trust's stock valued at $29,000 after buying an additional 2,256 shares in the last quarter. GF Fund Management CO. LTD. acquired a new stake in shares of DiamondRock Hospitality in the fourth quarter valued at approximately $34,000. State of Wyoming acquired a new stake in shares of DiamondRock Hospitality in the fourth quarter valued at approximately $54,000. Caxton Associates LP acquired a new stake in shares of DiamondRock Hospitality in the fourth quarter valued at approximately $92,000. Finally, PharVision Advisers LLC acquired a new stake in shares of DiamondRock Hospitality in the fourth quarter valued at approximately $98,000.

Analyst Upgrades and Downgrades

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

DiamondRock Hospitality Price Performance

NYSE:DRH traded down $0.0750 during mid-day trading on Monday, reaching $8.3850. The stock had a trading volume of 1,992,121 shares, compared to its average volume of 2,783,998. The stock has a 50-day simple moving average of $7.89 and a two-hundred day simple moving average of $7.77. The stock has a market capitalization of $1.72 billion, a PE ratio of 32.25 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. DiamondRock Hospitality Company has a 12 month low of $6.18 and a 12 month high of $10.00.

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 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.33 by $0.02. The business had revenue of $305.70 million for the quarter, compared to analysts' expectations of $303.70 million. DiamondRock Hospitality had a net margin of 6.04% and a return on equity of 4.23%. The firm's quarterly revenue was down 1.2% compared to the same quarter last year. During the same period last year, the firm posted $0.34 earnings per share. 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 earnings per share for the current year.

DiamondRock Hospitality Cuts Dividend

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

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.