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

Key Points

• Voya Investment Management LLC increased its stake in DiamondRock Hospitality by 5.8%, owning 665,423 shares valued at approximately $5.14 million.
• DiamondRock Hospitality recently announced a quarterly dividend of $0.08 per share, with a dividend yield of 3.8%, despite a payout ratio of 123.08%.
• Wall Street analysts rate DiamondRock Hospitality with an average rating of "Hold" and a consensus target price of $8.63.

Voya Investment Management LLC increased its stake in DiamondRock Hospitality Company (NYSE:DRH - Free Report) by 5.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 665,423 shares of the real estate investment trust's stock after purchasing an additional 36,361 shares during the period. Voya Investment Management LLC owned approximately 0.32% of DiamondRock Hospitality worth $5,137,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Versant Capital Management Inc grew its holdings in shares of DiamondRock Hospitality by 156.3% during the 1st quarter. Versant Capital Management Inc now owns 3,699 shares of the real estate investment trust's stock worth $29,000 after purchasing an additional 2,256 shares in the last quarter. GF Fund Management CO. LTD. bought a new position in DiamondRock Hospitality during the 4th quarter valued at $34,000. State of Wyoming purchased a new position in DiamondRock Hospitality in the fourth quarter valued at about $54,000. DRW Securities LLC bought a new stake in DiamondRock Hospitality during the 1st quarter valued at $84,000. Finally, United Services Automobile Association bought a new stake in shares of DiamondRock Hospitality during the 1st quarter valued at about $91,000.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Truist Financial decreased 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. Wells Fargo & Company increased 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. One analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, DiamondRock Hospitality has an average rating of "Hold" and an average price target of $8.63.

DiamondRock Hospitality Trading Down 0.4%

Shares of NYSE:DRH traded down $0.03 during trading on Friday, hitting $8.30. The company had a trading volume of 5,260,005 shares, compared to its average volume of 2,646,441. DiamondRock Hospitality Company has a one year low of $6.18 and a one year high of $10.00. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.30 and a quick ratio of 1.30. The stock has a market cap of $1.70 billion, a price-to-earnings ratio of 31.92 and a beta of 1.39. The company has a fifty day simple moving average of $8.12 and a two-hundred day simple moving average of $7.78.

DiamondRock Hospitality (NYSE:DRH - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The real estate investment trust reported $0.35 EPS 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 the consensus estimate of $303.70 million. DiamondRock Hospitality had a net margin of 6.04% and a return on equity of 4.23%. The firm's revenue was down 1.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.34 EPS. DiamondRock Hospitality has set its FY 2025 guidance at 0.960-1.060 EPS. As a group, equities analysts forecast that DiamondRock Hospitality Company will post 0.96 earnings per share for the current year.

DiamondRock Hospitality Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 14th. Stockholders of record on Tuesday, September 30th will be paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 3.9%. The ex-dividend date of this dividend is Tuesday, September 30th. DiamondRock Hospitality's dividend payout ratio (DPR) is currently 123.08%.

About DiamondRock Hospitality

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.