Arrowstreet Capital Limited Partnership Has $10.10 Million Stock Position in DiamondRock Hospitality Company $DRH

Arrowstreet Capital Limited Partnership lifted its holdings in shares of DiamondRock Hospitality Company (NYSE:DRH) by 24.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,318,462 shares of the real estate investment trust’s stock after acquiring an additional 261,701 shares during the period. Arrowstreet Capital Limited Partnership owned approximately 0.64% of DiamondRock Hospitality worth $10,099,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Profund Advisors LLC acquired a new position in DiamondRock Hospitality during the 2nd quarter valued at about $79,000. DRW Securities LLC purchased a new stake in shares of DiamondRock Hospitality in the first quarter worth approximately $84,000. GAMMA Investing LLC lifted its holdings in shares of DiamondRock Hospitality by 372.6% in the second 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 purchased a new position in shares of DiamondRock Hospitality during the first quarter valued at approximately $91,000. Finally, Ethic Inc. bought a new stake in DiamondRock Hospitality during the second quarter worth $96,000.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on DRH shares. Evercore ISI raised their price objective on DiamondRock Hospitality from $9.00 to $10.00 and gave the company an “in-line” rating in a research note on Thursday, November 20th. Weiss Ratings reissued a “hold (c)” rating on shares of DiamondRock Hospitality in a research report on Wednesday, October 8th. Truist Financial boosted their price target on shares of DiamondRock Hospitality from $9.00 to $10.00 and gave the stock a “hold” rating in a report on Thursday, December 4th. Wells Fargo & Company increased their price objective on shares of DiamondRock Hospitality from $9.00 to $10.00 and gave the company an “equal weight” rating in a research note on Monday, December 1st. 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 research report on Wednesday, October 22nd. One equities research analyst has rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, DiamondRock Hospitality presently has a consensus rating of “Hold” and an average price target of $9.38.

DiamondRock Hospitality Stock Up 1.2%

DiamondRock Hospitality stock opened at $8.78 on Wednesday. The firm has a 50 day moving average price of $8.34 and a 200-day moving average price of $8.10. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 0.70. DiamondRock Hospitality Company has a twelve month low of $6.18 and a twelve month high of $9.85. The company has a market capitalization of $1.79 billion, a P/E ratio of 35.12, a P/E/G ratio of 4.50 and a beta of 1.04.

DiamondRock Hospitality (NYSE:DRH) last posted its quarterly earnings results on Thursday, November 6th. The real estate investment trust reported $0.29 EPS for the quarter, topping 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 company had revenue of $285.38 million for the quarter, compared to analysts’ expectations of $277.45 million. During the same quarter in the previous year, the firm posted $0.27 EPS. DiamondRock Hospitality’s revenue was up .1% on a year-over-year basis. DiamondRock Hospitality has set its FY 2025 guidance at 1.020-1.06 EPS. As a group, equities analysts predict that DiamondRock Hospitality Company will post 0.96 EPS for the current year.

DiamondRock Hospitality Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 14th. Stockholders of record on Wednesday, December 31st will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date of this dividend is Wednesday, December 31st. DiamondRock Hospitality’s dividend payout ratio is currently 128.00%.

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.