Royal Bank of Canada Lowers Position in DiamondRock Hospitality Company $DRH

Royal Bank of Canada decreased its position in shares of DiamondRock Hospitality Company (NYSE:DRH) by 97.4% during the first quarter, Holdings Channel.com reports. The firm owned 5,220 shares of the real estate investment trust’s stock after selling 193,298 shares during the period. Royal Bank of Canada’s holdings in DiamondRock Hospitality were worth $49,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in DRH. ProShare Advisors LLC lifted its stake in shares of DiamondRock Hospitality by 3.1% in the 4th quarter. ProShare Advisors LLC now owns 40,041 shares of the real estate investment trust’s stock valued at $359,000 after purchasing an additional 1,203 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in DiamondRock Hospitality by 77.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 3,436 shares of the real estate investment trust’s stock worth $31,000 after buying an additional 1,498 shares in the last quarter. Gallacher Capital Management LLC grew its position in DiamondRock Hospitality by 5.8% during the first quarter. Gallacher Capital Management LLC now owns 27,509 shares of the real estate investment trust’s stock valued at $258,000 after buying an additional 1,504 shares during the period. Metis Global Partners LLC grew its position in DiamondRock Hospitality by 3.6% during the fourth quarter. Metis Global Partners LLC now owns 48,193 shares of the real estate investment trust’s stock valued at $432,000 after buying an additional 1,667 shares during the period. Finally, Allworth Financial LP increased its holdings in DiamondRock Hospitality by 146.0% in the fourth quarter. Allworth Financial LP now owns 2,859 shares of the real estate investment trust’s stock valued at $26,000 after buying an additional 1,697 shares in the last quarter.

DiamondRock Hospitality Stock Performance

NYSE:DRH opened at $12.29 on Thursday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.64 and a current ratio of 1.64. The company has a fifty day moving average of $12.49 and a two-hundred day moving average of $11.14. The stock has a market capitalization of $2.51 billion, a PE ratio of 49.16, a P/E/G ratio of 4.50 and a beta of 0.98. DiamondRock Hospitality Company has a fifty-two week low of $7.47 and a fifty-two week high of $13.79.

DiamondRock Hospitality (NYSE:DRH) last posted its quarterly earnings data on Thursday, July 30th. The real estate investment trust reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.22. The business had revenue of $318.29 million for the quarter, compared to the consensus estimate of $314.98 million. DiamondRock Hospitality had a net margin of 5.69% and a return on equity of 4.04%. The company’s revenue was up 4.1% compared to the same quarter last year. During the same period last year, the firm posted $0.35 earnings per share. DiamondRock Hospitality has set its FY 2026 guidance at 1.180-1.230 EPS. As a group, research analysts forecast that DiamondRock Hospitality Company will post 0.96 earnings per share for the current fiscal year.

DiamondRock Hospitality Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 14th. Investors of record on Wednesday, September 30th will be issued a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 3.6%. The ex-dividend date is Wednesday, September 30th. This is a positive change from DiamondRock Hospitality’s previous quarterly dividend of $0.09. DiamondRock Hospitality’s payout ratio is presently 60.27%.

Insider Buying and Selling

In other DiamondRock Hospitality news, Director Kathleen Merrill sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $11.88, for a total transaction of $237,600.00. Following the completion of the sale, the director directly owned 84,335 shares in the company, valued at approximately $1,001,899.80. The trade was a 19.17% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Bank of America upped their price objective on shares of DiamondRock Hospitality from $12.50 to $13.00 and gave the stock a “buy” rating in a research report on Monday, July 20th. Stifel Nicolaus raised their target price on DiamondRock Hospitality from $12.50 to $13.25 and gave the company a “hold” rating in a research report on Friday, July 31st. Wells Fargo & Company lifted their price target on DiamondRock Hospitality from $12.00 to $13.00 and gave the company an “equal weight” rating in a research note on Thursday, July 23rd. Truist Financial upped their price target on DiamondRock Hospitality from $11.00 to $12.00 and gave the stock a “buy” rating in a report on Tuesday, May 26th. Finally, Zacks Research upgraded DiamondRock Hospitality from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 19th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $12.53.

About DiamondRock Hospitality

DiamondRock Hospitality Company is a real estate investment trust (REIT) that acquires, owns and manages a diversified portfolio of upscale, full-service hotels in urban gateway markets across the United States. Established in 2004 and headquartered in Bethesda, Maryland, the company focuses on investing in high-quality lodging properties that cater to both business and leisure travelers. Its assets are positioned in key metropolitan areas, enabling DiamondRock to benefit from strong demand drivers such as corporate travel, group conventions and resort leisure stays.

The company’s portfolio includes full-service hotels offering a broad range of amenities, including guest rooms, on-site food and beverage outlets, meeting and event space, fitness centers and spa services.