Vert Asset Management LLC Lowers Holdings in DiamondRock Hospitality Company $DRH

Vert Asset Management LLC cut its holdings in DiamondRock Hospitality Company (NYSE:DRH) by 3.9% during the second quarter, Holdings Channel reports. The firm owned 85,474 shares of the real estate investment trust’s stock after selling 3,456 shares during the quarter. Vert Asset Management LLC’s holdings in DiamondRock Hospitality were worth $655,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC lifted its holdings in DiamondRock Hospitality by 54.6% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 91,486 shares of the real estate investment trust’s stock worth $705,000 after purchasing an additional 32,298 shares in the last quarter. Cbre Investment Management Listed Real Assets LLC lifted its holdings in DiamondRock Hospitality by 66.7% in the 1st quarter. Cbre Investment Management Listed Real Assets LLC now owns 2,748,875 shares of the real estate investment trust’s stock worth $21,221,000 after purchasing an additional 1,100,070 shares in the last quarter. Oppenheimer Asset Management Inc. purchased a new position in DiamondRock Hospitality in the 1st quarter worth approximately $103,000. Envestnet Asset Management Inc. purchased a new stake in shares of DiamondRock Hospitality during the 1st quarter worth approximately $395,000. Finally, American Century Companies Inc. raised its holdings in shares of DiamondRock Hospitality by 150.1% during the 1st quarter. American Century Companies Inc. now owns 132,649 shares of the real estate investment trust’s stock worth $1,024,000 after acquiring an additional 79,620 shares in the last quarter.

Analyst Ratings Changes

Separately, Wells Fargo & Company upped their price objective on DiamondRock Hospitality from $8.25 to $9.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 27th. One analyst has rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $8.63.

DiamondRock Hospitality Stock Down 0.1%

Shares of DRH opened at $7.95 on Thursday. The stock has a market capitalization of $1.63 billion, a price-to-earnings ratio of 30.58 and a beta of 1.38. DiamondRock Hospitality Company has a 1 year low of $6.18 and a 1 year high of $10.00. The business’s 50 day simple moving average is $8.13 and its 200-day simple moving average is $7.78. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.30 and a quick ratio of 1.30.

DiamondRock Hospitality (NYSE:DRH) last issued its quarterly earnings data on Thursday, August 7th. The real estate investment trust reported $0.35 earnings per share (EPS) 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 business had revenue of $305.70 million for the quarter, compared to analysts’ expectations of $303.70 million. During the same period in the prior year, the firm earned $0.34 EPS. The company’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, equities analysts expect that DiamondRock Hospitality Company will post 0.96 earnings per share for the current fiscal year.

DiamondRock Hospitality Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 14th. Investors of record on Tuesday, September 30th will be issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 4.0%. The ex-dividend date is Tuesday, September 30th. DiamondRock Hospitality’s dividend payout ratio is presently 123.08%.

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.