The Manufacturers Life Insurance Company Buys New Stake in DiamondRock Hospitality Company $DRH

The Manufacturers Life Insurance Company bought a new position in DiamondRock Hospitality Company (NYSE:DRH) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 108,779 shares of the real estate investment trust’s stock, valued at approximately $1,325,000. The Manufacturers Life Insurance Company owned about 0.05% of DiamondRock Hospitality at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. BlackRock Inc. purchased a new position in DiamondRock Hospitality during the 2nd quarter valued at approximately $475,282,000. Cohen & Steers Inc. bought a new position in shares of DiamondRock Hospitality during the 4th quarter valued at approximately $59,231,000. Pzena Investment Management LLC bought a new position in shares of DiamondRock Hospitality during the 2nd quarter valued at approximately $34,464,000. SG Americas Securities LLC grew its holdings in shares of DiamondRock Hospitality by 106.1% in the first quarter. SG Americas Securities LLC now owns 4,172,671 shares of the real estate investment trust’s stock valued at $39,098,000 after purchasing an additional 2,147,881 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its position in DiamondRock Hospitality by 907.2% in the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,292,360 shares of the real estate investment trust’s stock worth $20,540,000 after purchasing an additional 2,064,760 shares during the last quarter.

DiamondRock Hospitality Price Performance

DRH stock opened at $12.08 on Friday. DiamondRock Hospitality Company has a 12 month low of $7.47 and a 12 month high of $13.79. The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 0.70. The company has a 50-day moving average price of $12.48 and a 200 day moving average price of $11.16. The stock has a market cap of $2.47 billion, a PE ratio of 48.32, a P/E/G ratio of 4.50 and a beta of 0.97.

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

DiamondRock Hospitality Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 14th. Stockholders of record on Wednesday, September 30th will be given a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 3.6%. The ex-dividend date of this dividend is Wednesday, September 30th. This is a boost from DiamondRock Hospitality’s previous quarterly dividend of $0.09. DiamondRock Hospitality’s dividend payout ratio is currently 60.27%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on DRH. Stifel Nicolaus upped their price target on shares of DiamondRock Hospitality from $12.50 to $13.25 and gave the company a “hold” rating in a research note on Friday, July 31st. Citigroup boosted their target price on shares of DiamondRock Hospitality from $11.00 to $13.00 and gave the stock a “neutral” rating in a report on Wednesday, July 22nd. LADENBURG THALM/SH SH upped their target price on shares of DiamondRock Hospitality from $13.00 to $14.00 and gave the company a “buy” rating in a research report on Thursday, June 18th. Wells Fargo & Company increased their price target on shares of DiamondRock Hospitality from $12.00 to $13.00 and gave the company an “equal weight” rating in a report on Thursday, July 23rd. Finally, Bank of America lifted their price target on DiamondRock Hospitality from $12.50 to $13.00 and gave the stock a “buy” rating in a research report on Monday, July 20th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, DiamondRock Hospitality currently has a consensus rating of “Moderate Buy” and an average price target of $12.53.

Insider Buying and Selling at DiamondRock Hospitality

In other news, Director Kathleen Merrill sold 20,000 shares of the stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $11.88, for a total transaction of $237,600.00. Following the transaction, the director directly owned 84,335 shares in the company, valued at approximately $1,001,899.80. This trade represents a 19.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.90% of the company’s stock.

DiamondRock Hospitality Profile

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.