Allspring Global Investments Holdings LLC Reduces Stock Holdings in DiamondRock Hospitality Company $DRH

Allspring Global Investments Holdings LLC decreased its stake in DiamondRock Hospitality Company (NYSE:DRH) by 5.9% in the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 86,061 shares of the real estate investment trust’s stock after selling 5,425 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in DiamondRock Hospitality were worth $677,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of DRH. Nuveen LLC purchased a new position in shares of DiamondRock Hospitality in the 1st quarter worth approximately $18,262,000. Deutsche Bank AG boosted its holdings in shares of DiamondRock Hospitality by 723.6% in the 1st quarter. Deutsche Bank AG now owns 2,268,828 shares of the real estate investment trust’s stock worth $17,515,000 after purchasing an additional 1,993,345 shares during the period. H 2 Credit Manager LP boosted its holdings in shares of DiamondRock Hospitality by 35.6% in the 1st quarter. H 2 Credit Manager LP now owns 5,075,150 shares of the real estate investment trust’s stock worth $39,180,000 after purchasing an additional 1,333,705 shares during the period. Cbre Investment Management Listed Real Assets LLC boosted its holdings in shares of DiamondRock Hospitality by 66.7% in the 1st quarter. Cbre Investment Management Listed Real Assets LLC now owns 2,748,875 shares of the real estate investment trust’s stock worth $21,221,000 after purchasing an additional 1,100,070 shares during the period. Finally, Dark Forest Capital Management LP boosted its holdings in DiamondRock Hospitality by 5,687.6% during the 1st quarter. Dark Forest Capital Management LP now owns 750,823 shares of the real estate investment trust’s stock valued at $5,796,000 after acquiring an additional 737,850 shares during the period.

Wall Street Analyst Weigh In

DRH has been the subject of a number of recent analyst reports. Wells Fargo & Company upgraded DiamondRock Hospitality to a “hold” rating in a report on Friday, October 3rd. Morgan Stanley dropped their price objective on DiamondRock Hospitality from $9.00 to $8.50 and set an “equal weight” rating for the company in a report on Wednesday. Finally, Weiss Ratings restated a “hold (c)” rating on shares of DiamondRock Hospitality in a report on Wednesday, October 8th. One analyst has rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $8.88.

DiamondRock Hospitality Trading Down 0.8%

DRH opened at $7.83 on Friday. The firm has a market cap of $1.60 billion, a price-to-earnings ratio of 30.10 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. The stock has a fifty day moving average price of $8.11 and a 200-day moving average price of $7.78.

DiamondRock Hospitality (NYSE:DRH) last released 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 firm had revenue of $305.70 million during the quarter, compared to analyst estimates of $303.70 million. DiamondRock Hospitality had a return on equity of 4.23% and a net margin of 6.04%.The business’s revenue for the quarter was down 1.2% compared to the same quarter last year. 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 anticipate that DiamondRock Hospitality Company will post 0.96 earnings per share for the current fiscal year.

DiamondRock Hospitality Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 14th. Stockholders of record on Tuesday, September 30th were given a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 4.1%. The ex-dividend date of this dividend was Tuesday, September 30th. DiamondRock Hospitality’s payout ratio is presently 123.08%.

DiamondRock Hospitality Company 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.