Pzena Investment Management LLC Increases Holdings in DiamondRock Hospitality Company $DRH

Key Points

• Pzena Investment Management LLC increased its stake in DiamondRock Hospitality Company by 2.1%, owning approximately 4.26% of the company worth $67.3 million after acquiring 181,610 additional shares.
• DiamondRock Hospitality reported a quarterly earnings per share of $0.35, beating analyst expectations, with a revenue of $305.7 million, down 1.2% year-over-year.
• The company declared a quarterly dividend of $0.08, representing a 4.3% yield, with a dividend payout ratio of 123.08% as of the last filing.

Pzena Investment Management LLC lifted its position in shares of DiamondRock Hospitality Company (NYSE:DRH - Free Report) by 2.1% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,785,278 shares of the real estate investment trust's stock after buying an additional 181,610 shares during the period. Pzena Investment Management LLC owned about 4.26% of DiamondRock Hospitality worth $67,295,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. DRW Securities LLC purchased a new position in shares of DiamondRock Hospitality during the 1st quarter valued at about $84,000. GAMMA Investing LLC increased its stake in DiamondRock Hospitality by 372.6% in the 2nd quarter. GAMMA Investing LLC now owns 10,927 shares of the real estate investment trust's stock worth $84,000 after purchasing an additional 8,615 shares during the period. United Services Automobile Association purchased a new position in DiamondRock Hospitality in the 1st quarter worth approximately $91,000. Harbor Capital Advisors Inc. increased its stake in DiamondRock Hospitality by 26.4% in the 1st quarter. Harbor Capital Advisors Inc. now owns 11,941 shares of the real estate investment trust's stock worth $92,000 after purchasing an additional 2,492 shares during the period. Finally, Walleye Capital LLC purchased a new position in DiamondRock Hospitality in the 1st quarter worth approximately $97,000.

DiamondRock Hospitality Price Performance

Shares of DRH stock opened at $7.51 on Monday. The stock has a market cap of $1.54 billion, a price-to-earnings ratio of 28.89 and a beta of 1.38. The business's fifty day moving average is $8.11 and its 200 day moving average is $7.77. DiamondRock Hospitality Company has a twelve month low of $6.18 and a twelve month high of $10.00. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.64.

DiamondRock Hospitality (NYSE:DRH - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The real estate investment trust reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.02. The company had revenue of $305.70 million for 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 revenue for the quarter was down 1.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.34 earnings per share. DiamondRock Hospitality has set its FY 2025 guidance at 0.960-1.060 EPS. Research analysts expect that DiamondRock Hospitality Company will post 0.96 EPS for the current fiscal year.

DiamondRock Hospitality Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 14th. Investors of record on Tuesday, September 30th will be paid a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 4.3%. The ex-dividend date of this dividend is Tuesday, September 30th. DiamondRock Hospitality's dividend payout ratio is presently 123.08%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on DRH. Wells Fargo & Company raised DiamondRock Hospitality to a "hold" rating in a research note on Friday, October 3rd. Weiss Ratings reaffirmed a "hold (c)" rating on shares of DiamondRock Hospitality in a research note on Wednesday, October 8th. One analyst has rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, DiamondRock Hospitality currently has an average rating of "Hold" and an average target price of $8.63.

DiamondRock Hospitality Company 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.

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