DiamondRock Hospitality Company $DRH Shares Sold by Allianz Asset Management GmbH

Allianz Asset Management GmbH lessened its holdings in shares of DiamondRock Hospitality Company (NYSE:DRH) by 5.9% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 857,045 shares of the real estate investment trust’s stock after selling 53,830 shares during the quarter. Allianz Asset Management GmbH owned 0.42% of DiamondRock Hospitality worth $6,565,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. DRW Securities LLC acquired a new stake in DiamondRock Hospitality during the 1st quarter worth approximately $84,000. GAMMA Investing LLC grew its position in 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 acquiring an additional 8,615 shares in the last quarter. United Services Automobile Association acquired a new stake in DiamondRock Hospitality in the first quarter valued at approximately $91,000. Walleye Capital LLC acquired a new stake in DiamondRock Hospitality in the first quarter valued at approximately $97,000. Finally, Oppenheimer Asset Management Inc. acquired a new stake in DiamondRock Hospitality in the first quarter valued at approximately $103,000.

Analyst Ratings Changes

DRH has been the subject of several recent research reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of DiamondRock Hospitality in a research report on Wednesday, October 8th. Morgan Stanley lowered their price objective on shares of DiamondRock Hospitality from $9.00 to $8.50 and set an “equal weight” rating for the company in a research report on Wednesday. Finally, Wells Fargo & Company raised shares of DiamondRock Hospitality to a “hold” rating in a research report on Friday, October 3rd. One equities research analyst has rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $8.88.

DiamondRock Hospitality Stock Performance

DiamondRock Hospitality stock opened at $7.91 on Thursday. The stock has a market cap of $1.62 billion, a P/E ratio of 30.41 and a beta of 1.38. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.64. The stock has a 50 day moving average of $8.11 and a 200-day moving average of $7.77. DiamondRock Hospitality Company has a 52 week low of $6.18 and a 52 week high of $10.00.

DiamondRock Hospitality (NYSE:DRH) last released its earnings results on Thursday, August 7th. The real estate investment trust reported $0.35 EPS for the quarter, beating the consensus estimate of $0.33 by $0.02. The company had revenue of $305.70 million during the quarter, compared to analysts’ expectations of $303.70 million. DiamondRock Hospitality had a return on equity of 4.23% and a net margin of 6.04%.The business’s revenue was down 1.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.34 EPS. DiamondRock Hospitality has set its FY 2025 guidance at 0.960-1.060 EPS. On average, analysts expect that DiamondRock Hospitality Company will post 0.96 EPS for the current fiscal year.

DiamondRock Hospitality Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 14th. Investors of record on Tuesday, September 30th were paid a dividend of $0.08 per share. The ex-dividend date was Tuesday, September 30th. This represents a $0.32 annualized dividend and a yield of 4.0%. DiamondRock Hospitality’s dividend payout ratio (DPR) is 123.08%.

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.