DiamondRock Hospitality Company $DRH Position Cut by Fisher Asset Management LLC

Fisher Asset Management LLC decreased its position in shares of DiamondRock Hospitality Company (NYSE:DRH) by 47.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 903,568 shares of the real estate investment trust’s stock after selling 808,396 shares during the quarter. Fisher Asset Management LLC owned about 0.44% of DiamondRock Hospitality worth $6,921,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the company. Panagora Asset Management Inc. boosted its stake in DiamondRock Hospitality by 2.0% during the 2nd quarter. Panagora Asset Management Inc. now owns 143,155 shares of the real estate investment trust’s stock valued at $1,097,000 after purchasing an additional 2,858 shares during the period. Schroder Investment Management Group raised its holdings in shares of DiamondRock Hospitality by 59.8% during the second quarter. Schroder Investment Management Group now owns 2,247,696 shares of the real estate investment trust’s stock valued at $17,217,000 after buying an additional 840,741 shares during the last quarter. Norges Bank acquired a new position in shares of DiamondRock Hospitality during the second quarter worth approximately $1,403,000. Hsbc Holdings PLC boosted its position in shares of DiamondRock Hospitality by 3.0% during the second quarter. Hsbc Holdings PLC now owns 414,916 shares of the real estate investment trust’s stock worth $3,174,000 after buying an additional 12,196 shares during the period. Finally, State Board of Administration of Florida Retirement System grew its holdings in DiamondRock Hospitality by 14.2% in the 2nd quarter. State Board of Administration of Florida Retirement System now owns 339,172 shares of the real estate investment trust’s stock worth $2,598,000 after buying an additional 42,089 shares in the last quarter.

Analysts Set New Price Targets

DRH has been the topic of several recent analyst reports. Truist Financial lifted their target price on DiamondRock Hospitality from $9.00 to $10.00 and gave the company a “hold” rating in a research note on Thursday. Morgan Stanley lowered their price target on DiamondRock Hospitality from $9.00 to $8.50 and set an “equal weight” rating on the stock in a report on Wednesday, October 22nd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of DiamondRock Hospitality in a report on Wednesday, October 8th. Evercore ISI increased their target price on shares of DiamondRock Hospitality from $9.00 to $10.00 and gave the company an “in-line” rating in a research report on Thursday, November 20th. Finally, Wells Fargo & Company boosted their price target on shares of DiamondRock Hospitality from $9.00 to $10.00 and gave the stock an “equal weight” rating in a research report on Monday. One analyst has rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $9.38.

DiamondRock Hospitality Price Performance

DRH stock opened at $8.64 on Friday. DiamondRock Hospitality Company has a one year low of $6.18 and a one year high of $9.85. The firm has a 50-day moving average of $8.30 and a two-hundred day moving average of $8.07. The firm has a market capitalization of $1.76 billion, a PE ratio of 34.56, a P/E/G ratio of 4.50 and a beta of 1.04. The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 0.70.

DiamondRock Hospitality (NYSE:DRH) last released its quarterly earnings results on Thursday, November 6th. The real estate investment trust reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $277.45 million. During the same quarter in the previous year, the business earned $0.27 earnings per share. The firm’s revenue was up .1% compared to the same quarter last year. DiamondRock Hospitality has set its FY 2025 guidance at 1.020-1.06 EPS. On average, analysts forecast that DiamondRock Hospitality Company will post 0.96 earnings per share for the current year.

DiamondRock Hospitality Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 14th. Stockholders of record on Wednesday, December 31st will be issued a dividend of $0.08 per share. The ex-dividend date is Wednesday, December 31st. This represents a $0.32 dividend on an annualized basis and a dividend yield of 3.7%. DiamondRock Hospitality’s payout ratio is currently 128.00%.

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.