Resona Asset Management Co. Ltd. Trims Stake in DiamondRock Hospitality Company $DRH

Resona Asset Management Co. Ltd. lessened its stake in DiamondRock Hospitality Company (NYSE:DRH) by 7.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 83,288 shares of the real estate investment trust’s stock after selling 7,149 shares during the period. Resona Asset Management Co. Ltd.’s holdings in DiamondRock Hospitality were worth $647,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. DRW Securities LLC acquired a new position in shares of DiamondRock Hospitality in the 1st quarter valued at $84,000. GAMMA Investing LLC raised its position 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 worth $84,000 after acquiring an additional 8,615 shares during the period. United Services Automobile Association acquired a new position in shares of DiamondRock Hospitality in the first quarter worth about $91,000. Ethic Inc. purchased a new stake in shares of DiamondRock Hospitality during the 2nd quarter worth about $96,000. Finally, Walleye Capital LLC acquired a new stake in shares of DiamondRock Hospitality during the 1st quarter valued at about $97,000.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on DRH. Weiss Ratings reaffirmed a “hold (c)” rating on shares of DiamondRock Hospitality in a report on Wednesday, October 8th. 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 note on Wednesday, October 22nd. Finally, Wells Fargo & Company raised shares of DiamondRock Hospitality to a “hold” rating in a research note on Friday, October 3rd. One analyst has rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, DiamondRock Hospitality has a consensus rating of “Hold” and an average target price of $8.88.

DiamondRock Hospitality Price Performance

NYSE:DRH opened at $9.26 on Wednesday. The firm has a market cap of $1.89 billion, a P/E ratio of 37.04 and a beta of 1.38. The stock has a 50 day moving average of $8.09 and a two-hundred day moving average of $7.92. DiamondRock Hospitality Company has a 12 month low of $6.18 and a 12 month high of $10.00. The company has a current ratio of 1.64, a quick ratio of 1.30 and a debt-to-equity ratio of 0.70.

DiamondRock Hospitality (NYSE:DRH) last issued its quarterly earnings results on Thursday, November 6th. The real estate investment trust reported $0.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.25 by $0.04. DiamondRock Hospitality had a return on equity of 4.04% and a net margin of 5.69%.The firm had revenue of $285.38 million for the quarter, compared to analyst estimates of $277.45 million. During the same period in the previous year, the company posted $0.27 earnings per share. The business’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. On average, analysts expect that DiamondRock Hospitality Company will post 0.96 earnings per share for the current fiscal year.

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.