Pzena Investment Management LLC acquired a new stake in shares of DiamondRock Hospitality Company (NYSE:DRH – Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 2,829,560 shares of the real estate investment trust’s stock, valued at approximately $34,464,000.
Several other hedge funds have also made changes to their positions in DRH. BlackRock Inc. bought a new position in DiamondRock Hospitality during the second quarter valued at about $475,282,000. Deutsche Bank AG acquired a new stake in shares of DiamondRock Hospitality during the 2nd quarter worth approximately $19,036,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of DiamondRock Hospitality during the 2nd quarter worth approximately $2,153,000. Global Retirement Partners LLC acquired a new stake in shares of DiamondRock Hospitality during the 2nd quarter worth approximately $50,000. Finally, Bank of New York Mellon Corp bought a new stake in shares of DiamondRock Hospitality during the second quarter valued at approximately $19,809,000.
Analysts Set New Price Targets
A number of brokerages recently commented on DRH. Truist Financial upped their target price on DiamondRock Hospitality from $11.00 to $12.00 and gave the company a “buy” rating in a research note on Tuesday, May 26th. Morgan Stanley lifted their price target on shares of DiamondRock Hospitality from $9.60 to $10.00 and gave the stock an “equal weight” rating in a research note on Friday, July 17th. Stifel Nicolaus boosted their price target on shares of DiamondRock Hospitality from $12.50 to $13.25 and gave the company a “hold” rating in a report on Friday, July 31st. Citigroup increased their price objective on shares of DiamondRock Hospitality from $11.00 to $13.00 and gave the company a “neutral” rating in a research note on Wednesday, July 22nd. Finally, LADENBURG THALM/SH SH lifted their target price on shares of DiamondRock Hospitality from $13.00 to $14.00 and gave the company a “buy” rating in a research report on Thursday, June 18th. Four investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $12.22.
DiamondRock Hospitality Stock Performance
Shares of DRH opened at $12.36 on Tuesday. DiamondRock Hospitality Company has a 1 year low of $7.47 and a 1 year high of $13.79. The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 0.70. The stock has a 50 day simple moving average of $12.36 and a 200-day simple moving average of $10.87. The stock has a market cap of $2.53 billion, a PE ratio of 49.44, a PEG ratio of 4.50 and a beta of 0.98.
DiamondRock Hospitality (NYSE:DRH – Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The real estate investment trust reported $0.44 EPS for the quarter, beating the consensus estimate of $0.22 by $0.22. The business had revenue of $318.29 million for the quarter, compared to analyst estimates of $314.98 million. DiamondRock Hospitality had a return on equity of 4.04% and a net margin of 5.69%.DiamondRock Hospitality’s quarterly revenue was up 4.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.35 EPS. DiamondRock Hospitality has set its FY 2026 guidance at 1.180-1.230 EPS. On average, sell-side analysts predict that DiamondRock Hospitality Company will post 0.96 EPS for the current fiscal year.
DiamondRock Hospitality Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 14th. Shareholders of record on Wednesday, September 30th will be issued a dividend of $0.11 per share. The ex-dividend date of this dividend is Wednesday, September 30th. This is a boost from DiamondRock Hospitality’s previous quarterly dividend of $0.09. This represents a $0.44 dividend on an annualized basis and a dividend yield of 3.6%. DiamondRock Hospitality’s dividend payout ratio (DPR) is 60.27%.
Insider Activity
In other news, Director Kathleen Merrill sold 20,000 shares of the business’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $11.88, for a total value of $237,600.00. Following the sale, the director owned 84,335 shares in the company, valued at approximately $1,001,899.80. The trade was a 19.17% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.90% of the company’s stock.
About DiamondRock Hospitality
DiamondRock Hospitality Company is a real estate investment trust (REIT) that acquires, owns and manages a diversified portfolio of upscale, full-service hotels in urban gateway markets across the United States. Established in 2004 and headquartered in Bethesda, Maryland, the company focuses on investing in high-quality lodging properties that cater to both business and leisure travelers. Its assets are positioned in key metropolitan areas, enabling DiamondRock to benefit from strong demand drivers such as corporate travel, group conventions and resort leisure stays.
The company’s portfolio includes full-service hotels offering a broad range of amenities, including guest rooms, on-site food and beverage outlets, meeting and event space, fitness centers and spa services.
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