Russell Investments Group Ltd. Has $5.49 Million Stock Position 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. lessened its holdings in shares of DiamondRock Hospitality Company (NYSE:DRH - Free Report) by 11.5% during the first quarter, according to the company in its most recent filing with the Securities & 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 about 0.34% of DiamondRock Hospitality worth $5,486,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC grew its position in shares of DiamondRock Hospitality by 54.6% during 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. acquired a new position in shares of DiamondRock Hospitality during the 1st quarter worth approximately $103,000. Envestnet Asset Management Inc. acquired a new position in shares of DiamondRock Hospitality during the 1st quarter worth approximately $395,000. Principal Financial Group Inc. grew its position in shares of DiamondRock Hospitality by 2.3% during 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 purchasing an additional 23,653 shares in the last quarter. Finally, Deutsche Bank AG grew its position in shares of DiamondRock Hospitality by 24.8% during the 4th quarter. Deutsche Bank AG now owns 275,483 shares of the real estate investment trust's stock worth $2,488,000 after purchasing an additional 54,794 shares in the last quarter.

DiamondRock Hospitality Price Performance

DiamondRock Hospitality stock traded up $0.24 during mid-day trading on Wednesday, reaching $8.61. The company had a trading volume of 2,684,213 shares, compared to its average volume of 2,779,597. DiamondRock Hospitality Company has a fifty-two week low of $6.18 and a fifty-two week high of $10.00. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.64. The company has a market cap of $1.76 billion, a P/E ratio of 33.10 and a beta of 1.41. The business has a fifty day simple moving average of $7.93 and a 200 day simple moving average of $7.78.

DiamondRock Hospitality (NYSE:DRH - Get Free Report) last issued its earnings results 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 net margin of 6.04% and a return on equity of 4.23%. The firm had revenue of $305.70 million for the quarter, compared to analyst estimates of $303.70 million. During the same quarter last year, the business posted $0.34 earnings per share. The company'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 research analysts predict that DiamondRock Hospitality Company will post 0.96 earnings per share for the current year.

Analyst Upgrades and Downgrades

DRH has been the topic of a number of recent analyst reports. Stifel Nicolaus lifted their price objective on shares of DiamondRock Hospitality from $8.00 to $8.25 and gave the company a "hold" rating in a research note on Friday, May 2nd. Bank of America upgraded shares of DiamondRock Hospitality from an "underperform" rating to a "buy" rating and set a $9.50 price objective for the company in a research report on Wednesday, April 30th. Wells Fargo & Company boosted their price objective on shares of DiamondRock Hospitality from $8.25 to $9.00 and gave the company an "equal weight" rating in a research report on Wednesday. Finally, Truist Financial lowered their price objective 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. One 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 has a consensus rating of "Hold" and an average price target 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.