Bank of New York Mellon Corp Acquires 16,620 Shares of DiamondRock Hospitality Company $DRH

Bank of New York Mellon Corp raised its holdings in shares of DiamondRock Hospitality Company (NYSE:DRH) by 0.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,882,185 shares of the real estate investment trust’s stock after purchasing an additional 16,620 shares during the quarter. Bank of New York Mellon Corp owned 0.91% of DiamondRock Hospitality worth $14,418,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in DRH. Alyeska Investment Group L.P. lifted its holdings in DiamondRock Hospitality by 2.8% during the 1st quarter. Alyeska Investment Group L.P. now owns 8,812,253 shares of the real estate investment trust’s stock valued at $68,031,000 after buying an additional 236,176 shares in the last quarter. Pzena Investment Management LLC raised its stake in shares of DiamondRock Hospitality by 2.1% during the second quarter. Pzena Investment Management LLC now owns 8,785,278 shares of the real estate investment trust’s stock valued at $67,295,000 after acquiring an additional 181,610 shares in the last quarter. Centersquare Investment Management LLC boosted its holdings in shares of DiamondRock Hospitality by 12.9% in the first quarter. Centersquare Investment Management LLC now owns 5,967,761 shares of the real estate investment trust’s stock valued at $46,071,000 after purchasing an additional 683,839 shares during the period. H 2 Credit Manager LP grew its stake in DiamondRock Hospitality by 35.6% in the first 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 in the last quarter. Finally, Northern Trust Corp increased its holdings in DiamondRock Hospitality by 0.8% during the 1st quarter. Northern Trust Corp now owns 3,278,297 shares of the real estate investment trust’s stock worth $25,308,000 after purchasing an additional 27,319 shares during the period.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Wells Fargo & Company upgraded DiamondRock Hospitality to a “hold” rating in a report on Friday, October 3rd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of DiamondRock Hospitality in a research note on Wednesday, October 8th. Finally, Morgan Stanley dropped their target price on shares of DiamondRock Hospitality from $9.00 to $8.50 and set an “equal weight” rating on the stock in a report on Wednesday, October 22nd. One investment analyst has rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $8.88.

DiamondRock Hospitality Price Performance

DRH opened at $8.72 on Tuesday. The firm has a market capitalization of $1.78 billion, a PE ratio of 34.90, a price-to-earnings-growth ratio of 4.43 and a beta of 1.38. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.64 and a quick ratio of 1.64. The business’s 50-day moving average is $8.12 and its two-hundred day moving average is $7.96. DiamondRock Hospitality Company has a 1 year low of $6.18 and a 1 year high of $10.00.

DiamondRock Hospitality (NYSE:DRH) last released its quarterly earnings results on Thursday, November 6th. The real estate investment trust reported $0.29 EPS for the quarter, beating the consensus estimate of $0.25 by $0.04. DiamondRock Hospitality had a net margin of 5.69% and a return on equity of 4.04%. The business had revenue of $285.38 million during the quarter, compared to analyst estimates of $277.45 million. During the same period in the prior year, the firm posted $0.27 earnings per share. The company’s quarterly revenue was up .1% on a year-over-year basis. DiamondRock Hospitality has set its FY 2025 guidance at 1.020-1.06 EPS. Research analysts anticipate that DiamondRock Hospitality Company will post 0.96 earnings per share for the current fiscal year.

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.