Strs Ohio Makes New Investment in DiamondRock Hospitality Company $DRH

Key Points

• Strs Ohio has newly invested in DiamondRock Hospitality Company (NYSE:DRH) by acquiring 39,400 shares valued at approximately $304,000, as stated in their recent 13F filing.
• DiamondRock Hospitality reported $0.35 EPS exceeding analysts' expectations of $0.33, with revenues of approximately $305.70 million for the last quarter.
• The company declared a quarterly dividend of $0.08, translating to an annual yield of 3.9%, with a payout ratio currently at 123.08%.

Strs Ohio acquired a new stake in DiamondRock Hospitality Company (NYSE:DRH - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 39,400 shares of the real estate investment trust's stock, valued at approximately $304,000.

A number of other institutional investors also recently modified their holdings of the company. Nuveen Asset Management LLC grew its stake in shares of DiamondRock Hospitality by 78.9% in the fourth quarter. Nuveen Asset Management LLC now owns 1,188,293 shares of the real estate investment trust's stock worth $10,730,000 after purchasing an additional 523,903 shares during the last quarter. State of Wyoming bought a new stake in shares of DiamondRock Hospitality in the 4th quarter worth approximately $54,000. Two Sigma Advisers LP grew its position in shares of DiamondRock Hospitality by 214.4% in the 4th quarter. Two Sigma Advisers LP now owns 48,100 shares of the real estate investment trust's stock worth $434,000 after buying an additional 32,800 shares during the last quarter. Voloridge Investment Management LLC purchased a new position in shares of DiamondRock Hospitality during the fourth quarter valued at approximately $604,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of DiamondRock Hospitality by 3.5% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,279,283 shares of the real estate investment trust's stock valued at $11,552,000 after acquiring an additional 43,555 shares in the last quarter.

DiamondRock Hospitality Trading Up 0.1%

Shares of NYSE DRH opened at $8.15 on Wednesday. The stock has a market cap of $1.67 billion, a P/E ratio of 31.33 and a beta of 1.39. 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 1 year low of $6.18 and a 1 year high of $10.00. The firm has a 50-day moving average of $8.12 and a 200 day moving average of $7.77.

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 (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.02. The firm had revenue of $305.70 million during the quarter, compared to analyst estimates of $303.70 million. DiamondRock Hospitality had a net margin of 6.04% and a return on equity of 4.23%. The business's revenue was down 1.2% on a year-over-year basis. During the same period last year, the business earned $0.34 earnings per share. DiamondRock Hospitality has set its FY 2025 guidance at 0.960-1.060 EPS. As a group, sell-side 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. The ex-dividend date is Tuesday, September 30th. This represents a $0.32 dividend on an annualized basis and a yield of 3.9%. DiamondRock Hospitality's payout ratio is presently 123.08%.

Analysts Set New Price Targets

A number of brokerages have issued reports on DRH. 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, August 27th. Truist Financial cut their target price on shares of DiamondRock Hospitality from $10.00 to $9.00 and set a "hold" rating on the stock in a research note on Friday, May 30th. One investment analyst has rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $8.63.

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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