Vert Asset Management LLC Reduces Stock Position in DiamondRock Hospitality Company $DRH

Vert Asset Management LLC reduced its position in shares of DiamondRock Hospitality Company (NYSE:DRH) by 3.9% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 85,474 shares of the real estate investment trust’s stock after selling 3,456 shares during the quarter. Vert Asset Management LLC’s holdings in DiamondRock Hospitality were worth $655,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Versant Capital Management Inc grew its stake 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 valued at $29,000 after purchasing an additional 2,256 shares during the period. DRW Securities LLC bought a new stake in shares of DiamondRock Hospitality during the 1st quarter valued at about $84,000. GAMMA Investing LLC grew its stake in shares of DiamondRock Hospitality by 372.6% during the 2nd quarter. GAMMA Investing LLC now owns 10,927 shares of the real estate investment trust’s stock valued at $84,000 after purchasing an additional 8,615 shares during the period. United Services Automobile Association bought a new stake in shares of DiamondRock Hospitality during the 1st quarter valued at about $91,000. Finally, Harbor Capital Advisors Inc. grew its stake in shares of DiamondRock Hospitality by 26.4% during the 1st quarter. Harbor Capital Advisors Inc. now owns 11,941 shares of the real estate investment trust’s stock valued at $92,000 after purchasing an additional 2,492 shares during the period.

DiamondRock Hospitality Trading Down 0.1%

Shares of NYSE:DRH opened at $7.95 on Thursday. The stock has a 50 day moving average of $8.13 and a 200 day moving average of $7.78. The company has a market cap of $1.63 billion, a PE ratio of 30.58 and a beta of 1.38. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.64. DiamondRock Hospitality Company has a 12-month low of $6.18 and a 12-month high of $10.00.

DiamondRock Hospitality (NYSE:DRH) last announced its quarterly earnings data on Thursday, August 7th. The real estate investment trust reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $0.02. The company had revenue of $305.70 million during 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 firm’s revenue was down 1.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.34 EPS. DiamondRock Hospitality has set its FY 2025 guidance at 0.960-1.060 EPS. As a group, equities research analysts expect that DiamondRock Hospitality Company will post 0.96 EPS for the current year.

DiamondRock Hospitality Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 14th. Investors of record on Tuesday, September 30th will be paid a dividend of $0.08 per share. The ex-dividend date is Tuesday, September 30th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 4.0%. DiamondRock Hospitality’s payout ratio is 123.08%.

Analysts Set New Price Targets

Separately, Wells Fargo & Company boosted their price target on DiamondRock Hospitality from $8.25 to $9.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 27th. One equities research analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, DiamondRock Hospitality presently has a consensus 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.