Graham Capital Management L.P. Grows Position in DiamondRock Hospitality Company $DRH

Graham Capital Management L.P. boosted its stake in DiamondRock Hospitality Company (NYSE:DRH) by 44.7% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 330,965 shares of the real estate investment trust’s stock after buying an additional 102,213 shares during the quarter. Graham Capital Management L.P. owned approximately 0.16% of DiamondRock Hospitality worth $2,555,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Versant Capital Management Inc raised its position in DiamondRock Hospitality by 156.3% in the 1st quarter. Versant Capital Management Inc now owns 3,699 shares of the real estate investment trust’s stock valued at $29,000 after buying an additional 2,256 shares during the last quarter. GF Fund Management CO. LTD. purchased a new stake in DiamondRock Hospitality in the 4th quarter valued at $34,000. State of Wyoming purchased a new stake in shares of DiamondRock Hospitality during the 4th quarter valued at $54,000. DRW Securities LLC purchased a new stake in shares of DiamondRock Hospitality during the 1st quarter valued at $84,000. Finally, Caxton Associates LP purchased a new stake in shares of DiamondRock Hospitality during the 4th quarter valued at $92,000.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on DRH. Truist Financial decreased their target price on DiamondRock Hospitality from $10.00 to $9.00 and set a “hold” rating for the company in a research report on Friday, May 30th. Wells Fargo & Company raised their target price on DiamondRock Hospitality from $8.25 to $9.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 27th. One analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, DiamondRock Hospitality has an average rating of “Hold” and an average price target of $8.63.

DiamondRock Hospitality Trading Down 0.2%

Shares of DRH opened at $8.57 on Tuesday. The business has a 50-day moving average of $7.98 and a 200 day moving average of $7.77. 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 $1.76 billion, a P/E ratio of 32.94 and a beta of 1.39. 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 announced its quarterly earnings data on Thursday, August 7th. The real estate investment trust reported $0.35 earnings per share for the quarter, topping 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 during the quarter, compared to analyst estimates of $303.70 million. During the same quarter last year, the firm posted $0.34 EPS. The firm’s revenue for the quarter was down 1.2% on a year-over-year basis. DiamondRock Hospitality has set its FY 2025 guidance at 0.960-1.060 EPS. As a group, research analysts forecast that DiamondRock Hospitality Company will post 0.96 EPS for the current year.

DiamondRock Hospitality Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 14th. Investors of record on Tuesday, September 30th will be issued a $0.08 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $0.32 annualized dividend and a yield of 3.7%. DiamondRock Hospitality’s dividend payout ratio (DPR) is 123.08%.

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.