Russell Investments Group Ltd. Lowers Holdings in DiamondRock Hospitality Company $DRH

Key Points

• Russell Investments Group Ltd. reduced its holdings in DiamondRock Hospitality by 11.5%, now owning 710,665 shares valued at approximately $5.5 million.
• Several large investors have altered their positions in DiamondRock, with Allspring Global Investments Holdings LLC increasing its stake by 54.6%, while Oppenheimer Asset Management and Envestnet Asset Management have also entered with new stakes.
• Analysts from Stifel Nicolaus and Bank of America have recently adjusted their ratings, with the consensus target price now at $8.50 and one analyst rating the stock as a Buy.

Russell Investments Group Ltd. cut its holdings in DiamondRock Hospitality Company (NYSE:DRH - Free Report) by 11.5% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 710,665 shares of the real estate investment trust's stock after selling 92,151 shares during the period. Russell Investments Group Ltd. owned 0.34% of DiamondRock Hospitality worth $5,486,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC lifted its holdings in DiamondRock Hospitality by 54.6% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 91,486 shares of the real estate investment trust's stock worth $705,000 after purchasing an additional 32,298 shares in the last quarter. Oppenheimer Asset Management Inc. bought a new stake in DiamondRock Hospitality in the 1st quarter worth approximately $103,000. Envestnet Asset Management Inc. bought a new stake in DiamondRock Hospitality in the 1st quarter worth approximately $395,000. Principal Financial Group Inc. increased its stake in DiamondRock Hospitality by 2.3% in the 1st quarter. Principal Financial Group Inc. now owns 1,034,246 shares of the real estate investment trust's stock worth $7,984,000 after acquiring an additional 23,653 shares during the last quarter. Finally, Deutsche Bank AG increased its stake in DiamondRock Hospitality by 24.8% in the 4th quarter. Deutsche Bank AG now owns 275,483 shares of the real estate investment trust's stock worth $2,488,000 after acquiring an additional 54,794 shares during the last quarter.

Analyst Ratings Changes

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

DiamondRock Hospitality Stock Performance

NYSE DRH opened at $8.0450 on Friday. The company has a market cap of $1.65 billion, a P/E ratio of 30.94 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. The business's 50 day moving average price is $7.86 and its 200-day moving average price is $7.78. DiamondRock Hospitality Company has a fifty-two week low of $6.18 and a fifty-two week high of $10.00.

DiamondRock Hospitality (NYSE:DRH - Get Free Report) last released its earnings results on Thursday, August 7th. The real estate investment trust reported $0.35 earnings per share for the quarter, beating the consensus estimate 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 company's revenue for the quarter was down 1.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.34 EPS. DiamondRock Hospitality has set its FY 2025 guidance at 0.960-1.060 EPS. Sell-side analysts predict that DiamondRock Hospitality Company will post 0.96 earnings per share for the current year.

DiamondRock Hospitality Cuts Dividend

The business also recently announced a dividend, which was paid on Friday, July 11th. Stockholders of record on Tuesday, July 1st were given a dividend of $0.08 per share. The ex-dividend date of this dividend was Monday, June 30th. This represents a dividend yield of 420.0%. DiamondRock Hospitality's payout ratio is currently 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.

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