American Century Companies Inc. Boosts Stake in DiamondRock Hospitality Company $DRH

American Century Companies Inc. increased its holdings in shares of DiamondRock Hospitality Company (NYSE:DRH) by 150.1% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 132,649 shares of the real estate investment trust’s stock after acquiring an additional 79,620 shares during the period. American Century Companies Inc. owned approximately 0.06% of DiamondRock Hospitality worth $1,024,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of DRH. Versant Capital Management Inc grew its holdings in DiamondRock Hospitality by 156.3% in the first 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. GF Fund Management CO. LTD. acquired a new position in shares of DiamondRock Hospitality during the 4th quarter worth approximately $34,000. State of Wyoming purchased a new position in shares of DiamondRock Hospitality during the 4th quarter valued at approximately $54,000. Caxton Associates LP acquired a new stake in DiamondRock Hospitality in the 4th quarter valued at $92,000. Finally, Harbor Capital Advisors Inc. increased its holdings in DiamondRock Hospitality by 26.4% in the 1st quarter. Harbor Capital Advisors Inc. now owns 11,941 shares of the real estate investment trust’s stock worth $92,000 after acquiring an additional 2,492 shares in the last quarter.

DiamondRock Hospitality Stock Up 0.6%

DRH stock opened at $8.48 on Thursday. 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 firm has a 50-day moving average of $8.01 and a two-hundred day moving average of $7.78. DiamondRock Hospitality Company has a 12 month low of $6.18 and a 12 month high of $10.00. The company has a market cap of $1.74 billion, a price-to-earnings ratio of 32.62 and a beta of 1.39.

DiamondRock Hospitality (NYSE:DRH) last issued its earnings results on Thursday, August 7th. The real estate investment trust reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.02. DiamondRock Hospitality had a return on equity of 4.23% and a net margin of 6.04%.The business had revenue of $305.70 million for the quarter, compared to analysts’ expectations of $303.70 million. During the same period in the previous year, the firm posted $0.34 EPS. The business’s revenue for the quarter was down 1.2% compared to the same quarter last year. DiamondRock Hospitality has set its FY 2025 guidance at 0.960-1.060 EPS. As a group, analysts forecast that DiamondRock Hospitality Company will post 0.96 earnings per share for the current fiscal year.

DiamondRock Hospitality Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 14th. Stockholders of record on Tuesday, September 30th will be issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 3.8%. The ex-dividend date is Tuesday, September 30th. DiamondRock Hospitality’s payout ratio is currently 123.08%.

Analyst Ratings Changes

DRH has been the topic of several recent analyst reports. 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 report on Wednesday, August 27th. Truist Financial lowered their price objective on DiamondRock Hospitality from $10.00 to $9.00 and set a “hold” rating on the stock in a report on Friday, May 30th. One investment analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus 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.