Asset Management One Co. Ltd. Sells 27,097 Shares of DiamondRock Hospitality Company $DRH

Asset Management One Co. Ltd. decreased its position in DiamondRock Hospitality Company (NYSE:DRH) by 8.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 293,775 shares of the real estate investment trust’s stock after selling 27,097 shares during the quarter. Asset Management One Co. Ltd. owned approximately 0.14% of DiamondRock Hospitality worth $2,250,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in DRH. Oppenheimer Asset Management Inc. bought a new position in DiamondRock Hospitality in the first quarter worth $103,000. Diversified Trust Co raised its holdings in DiamondRock Hospitality by 8.3% in the first quarter. Diversified Trust Co now owns 36,033 shares of the real estate investment trust’s stock worth $278,000 after purchasing an additional 2,748 shares in the last quarter. Illinois Municipal Retirement Fund raised its holdings in DiamondRock Hospitality by 1.8% in the first quarter. Illinois Municipal Retirement Fund now owns 107,860 shares of the real estate investment trust’s stock worth $833,000 after purchasing an additional 1,873 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in DiamondRock Hospitality by 54.6% in the first quarter. Allspring Global Investments Holdings LLC now owns 91,486 shares of the real estate investment trust’s stock worth $705,000 after purchasing an additional 32,298 shares in the last quarter. Finally, Teacher Retirement System of Texas raised its holdings in DiamondRock Hospitality by 4.9% in the first quarter. Teacher Retirement System of Texas now owns 53,632 shares of the real estate investment trust’s stock worth $414,000 after purchasing an additional 2,525 shares in the last quarter.

DiamondRock Hospitality Trading Up 1.7%

DiamondRock Hospitality stock opened at $7.86 on Thursday. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.30 and a quick ratio of 1.30. DiamondRock Hospitality Company has a one year low of $6.18 and a one year high of $10.00. The stock has a market capitalization of $1.61 billion, a PE ratio of 30.21 and a beta of 1.38. The business’s fifty day moving average is $8.10 and its 200 day moving average is $7.82.

DiamondRock Hospitality (NYSE:DRH) last released its quarterly earnings data on Thursday, August 7th. The real estate investment trust reported $0.35 EPS for the quarter, beating 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 company had revenue of $305.70 million for the quarter, compared to analysts’ expectations of $303.70 million. During the same period last year, the firm posted $0.34 earnings per share. DiamondRock Hospitality’s revenue 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. On average, sell-side analysts predict that DiamondRock Hospitality Company will post 0.96 EPS for the current year.

DiamondRock Hospitality Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 14th. Investors of record on Tuesday, September 30th were given a dividend of $0.08 per share. The ex-dividend date of this dividend was Tuesday, September 30th. This represents a $0.32 annualized dividend and a dividend yield of 4.1%. DiamondRock Hospitality’s dividend payout ratio (DPR) is 123.08%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on DRH. Morgan Stanley cut their target price on DiamondRock Hospitality from $9.00 to $8.50 and set an “equal weight” rating on the stock in a research note on Wednesday, October 22nd. Wells Fargo & Company raised DiamondRock Hospitality to a “hold” rating in a research note on Friday, October 3rd. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of DiamondRock Hospitality in a research note on Wednesday, October 8th. One analyst has rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $8.88.

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.