Ethic Inc. Makes New $96,000 Investment in DiamondRock Hospitality Company $DRH

Ethic Inc. purchased a new stake in shares of DiamondRock Hospitality Company (NYSE:DRH) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 12,395 shares of the real estate investment trust’s stock, valued at approximately $96,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of DRH. DRW Securities LLC purchased a new position in DiamondRock Hospitality during the first quarter valued at approximately $84,000. GAMMA Investing LLC grew its position in shares of DiamondRock Hospitality by 372.6% during the 2nd quarter. GAMMA Investing LLC now owns 10,927 shares of the real estate investment trust’s stock valued at $84,000 after purchasing an additional 8,615 shares in the last quarter. United Services Automobile Association bought a new position in shares of DiamondRock Hospitality in the first quarter worth $91,000. Walleye Capital LLC purchased a new stake in shares of DiamondRock Hospitality in the first quarter worth $97,000. Finally, Cerity Partners LLC purchased a new stake in shares of DiamondRock Hospitality in the first quarter worth $137,000.

Wall Street Analysts Forecast Growth

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

DiamondRock Hospitality Trading Down 0.2%

Shares of DRH opened at $7.85 on Friday. DiamondRock Hospitality Company has a fifty-two week low of $6.18 and a fifty-two week high of $10.00. The firm has a market cap of $1.61 billion, a price-to-earnings ratio of 30.17 and a beta of 1.38. The firm has a 50 day moving average price of $8.08 and a 200-day moving average price of $7.83. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.30 and a current ratio of 1.30.

DiamondRock Hospitality (NYSE:DRH) last released its earnings results 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. 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% compared to the same quarter last year. During the same quarter last year, the firm earned $0.34 EPS. DiamondRock Hospitality has set its FY 2025 guidance at 0.960-1.060 EPS. As a group, equities research analysts forecast that DiamondRock Hospitality Company will post 0.96 earnings per share for the current year.

DiamondRock Hospitality Dividend Announcement

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

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.