DiamondRock Hospitality Company $DRH Shares Sold by IFM Investors Pty Ltd

IFM Investors Pty Ltd cut its stake in shares of DiamondRock Hospitality Company (NYSE:DRH) by 12.8% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 41,544 shares of the real estate investment trust’s stock after selling 6,087 shares during the quarter. IFM Investors Pty Ltd’s holdings in DiamondRock Hospitality were worth $321,000 at the end of the most recent quarter.

Other institutional investors and hedge funds 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 worth $29,000 after purchasing an additional 2,256 shares during the period. GF Fund Management CO. LTD. purchased a new stake in shares of DiamondRock Hospitality in the 4th quarter worth about $34,000. State of Wyoming purchased a new stake in shares of DiamondRock Hospitality in the 4th quarter worth about $54,000. DRW Securities LLC purchased a new stake in shares of DiamondRock Hospitality in the 1st quarter worth about $84,000. Finally, United Services Automobile Association purchased a new stake in shares of DiamondRock Hospitality in the 1st quarter worth about $91,000.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Truist Financial decreased their price objective on shares of DiamondRock Hospitality from $10.00 to $9.00 and set a “hold” rating on the stock in a research report on Friday, May 30th. Wells Fargo & Company boosted their price objective on shares of DiamondRock Hospitality from $8.25 to $9.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 27th. One research analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $8.63.

DiamondRock Hospitality Price Performance

NYSE:DRH opened at $8.35 on Friday. The firm has a market cap of $1.71 billion, a price-to-earnings ratio of 32.10 and a beta of 1.39. 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 company’s 50-day moving average is $8.10 and its two-hundred day moving average is $7.77. DiamondRock Hospitality Company has a 12-month low of $6.18 and a 12-month high of $10.00.

DiamondRock Hospitality (NYSE:DRH) 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 analysts’ consensus estimates of $0.33 by $0.02. The company had revenue of $305.70 million for 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 firm’s quarterly revenue was down 1.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.34 EPS. DiamondRock Hospitality has set its FY 2025 guidance at 0.960-1.060 EPS. Research analysts expect that DiamondRock Hospitality Company will post 0.96 EPS for the current year.

DiamondRock Hospitality Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 14th. Shareholders of record on Tuesday, September 30th will be issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date is Tuesday, September 30th. DiamondRock Hospitality’s dividend payout ratio is 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.